Mr. Tilton, an oil executive at Texaco was almost certain to land the job. He faces a tough task of helping United Airlines through financial exertions and cost cutting measures and union relations.
The pilots union said a US$ 1 500 000 000 wage concession package was unacceptable. UAL needs to cut costs by US$ 2 500 000 000 to avoid bankcruptcy. UAL employees own 55% of the group.
Mr. Tilton will replace interim CEO Jack Creighton and is no stranger to hard times serving as interim chairmen at Dynergy Corp.
More information at the Financial Times website
Information above and information from my above post's first paragraph was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink. The second paragraph in my above post is referring to the fact that someone else could have posted this news by the time full information has been rephrased by myself and is in no way meant to be offensive.
Anyone can fly, only the best Soar.