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UAL Economic Recovery Plan
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Ualexpress
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In case anyone questions the ineptitude of this management here is an editorial written by a UAL pilot. Why anyone thinks that the employees of UAL should help fund this management team (excluding Creighton) is beyond me. Finding a new management team is the only answer at UAL, a process which has already begun.
Where is the Accountability???
During the ESOP, UAL was making money and expanding. We were the number one airline in the world. We had two year Captains and so many aircraft bids that unfilled. UAL had billions of dollars in the bank. In 1999, everything changed. Our management stopped focusing on United Airlines and started spending the money accumulated during the ESOP.
Dark clouds appeared on the horizon. We had videos sent to our homes from Jim Goodwin saying that UAL wanted to be an "employee airline." Did anything really change? Remember the "bonus" program UAL devised? Station managers received bonuses when flights departed on time. How is that for team effort? Everyone else is breaking their back and working as a team to get the flight out on time, and one person receives a bonus? Where was the motivation for everyone else involved?
Throughout 1999, promises were made but were soon broken. Management promised us an "on time, industry-leading contract on-time." Well April 2000 came and went and no contract as promised. It took management six months to finally agree to give us that contract. We soon found there was much bitterness from their side that came with it. We learned very quickly that the company would not honor parts of our new contract. The Aggressive Pickup is still not programmed correctly in accordance with our contract.
The airline industry is very cyclical. There are boom times and down times. My grandparents lived through the depression. What did they always tell me? "Save your money for a rainy day." That's right, save your money for the tough times ahead. Did our management follow that thinking? It appears they just spent money because they had it.
Fast forward to today. Look how the events of one day changed everything. UAL is now losing money everyday. We have union leaders telling us that UAL will run out of cash. How did UAL get into this financial situation? Where is the money for the "rainy days?" Where did the money go?
Over the past three years, we watched our management make pretty bad financial decisions. Many of these investments our management pursued ended up with no return for UAL as a corporation. No wonder our stock is so low.
These business ventures include:
1. Stock buyback program
2. Dividends on Common shares
3. Attempted US Air acquisition
4. Purchase of Internet companies
5. Avolar
Let's look at these one at a time:
1. Stock buyback - Back in 1999, UAL started buying back stock as high as $90/share. Over $800 million was spent to buy back stock to boost shareholder value and increase the stock price. Since then the stock has just fallen lower and lower - Rate of Return for UAL - Zero.
2. Dividends - In 2000, UAL decided to pay dividends to make the stock more attractive. If this theory was true, why aren't Utility stocks that yield from 10 to 20% in dividends just soaring through the roof? Don't believe me? Look at Torch Energy (TRU). Pays 14% yield with a pretty flat price average. Just like the stock buybacks, the stock price kept falling lower - Rate of Return for UAL - Zero.
3. US Air acquisition - In May 2000, UAL announced that they were going to purchase US Air. According to UAL's newsletter Our Times, Over 100 teams made up of UAL employees were set up to "ease the transition." Of those 100 teams, not one member was an UAL crewmember. The acquisition was cancelled last fall. The Wall Street Journal estimated UAL spent over $500 million in the failed venture. Rate of Return for UAL - Zero.
4. Internet Companies - In the late 1990's at the peak of the internet boom, UAL purchased millions of shares in internet companies at their price peaks. One company was www.Priceline.com at $30/share. According to the recent 10-K filing, UAL took a $38 million impairment loss in 2000. Another purchase was www.mypoints.com. Over $250 million were spent on some of these companies. Rate of Return for UAL - Still to be determined.
5. Avolar - In April 2001, UAL announced the start of its own business jet venture. We all knew it would fail because it required good management. One week after 9/11, UAL wired millions to France for more aircraft. Less than a year after its inception with over $100 million spent, the plug was pulled on Avolar and more money went down the drain. Rate of Return for UAL - Zero.
Is there a pattern to these bad investments? I conservatively estimate the total UAL spent well over a $2 billion with little or nothing gained in return. Did any of the above decisions make UAL a stronger company? The answer is NO. What was our return for these investments as a corporation for each of these items I listed above? The answer - Nothing. In other words, UAL is not a stronger company, but much weaker due to upper management's misguided actions.
I know the BOD votes on these major purchases. However, upper management supplies the information and research to the members. Even though these investments failed, they still received their bonuses. My question to management is: Why wasn't anyone accountable for the failure of these investments? Was anyone disciplined, demoted, or fired for these poor decisions? UAL's cash was burning a hole in management's pockets and they couldn't spend it fast enough. As an employee I want an answer of why they chose to squander away money gained during the ESOP off of our wages. I want to know why they are not held accountable for failed business decisions.
We have also been told that UAL cannot borrow money from banks. With UAL's track record, can you blame the banks? Can you imagine how strong our Balance Sheet would be today compared with other airlines if we had not squandered away billions of dollars? Now when UAL attempts to borrow money, we have to pay a higher interest rate because of our "junk bond" status. Is that how any of you invest your B Fund? Would you want any of them to run your B Fund?
As pilots and employees we are held accountable for our actions. I know as a Captain and employee at UAL, I am held accountable. If I miscalculate fuel and have to divert, I have to answer to someone. If I miss a trip, again, I have to answer to someone. Have you once heard anyone from upper management accept responsibility for their actions? With the example they set, we shouldn't be disciplined at all for our mistakes. What incentive is there for senior management to avoid these ill advised schemes in the future?
Some day UAL will be profitable again. Our future is looking better with increased flying this summer. I like what I have read about Mr. Creighton. Unlike Mr. Goodwin, Mr. Creighton appears to be listening and speaking to the employees. He has stated he will hold his upper management to a higher criterion, however, most of these people who made those poor decisions have been reassigned with new titles.
How are we supposed to trust them in the future? Our futures are on the line and we have pilots furloughed. Our management should be held accountable when investments go sour. Does this encourage good leadership from the top from the examples above?
We need to learn from our past and hold people accountable for their decisions. When promises are made, do we believe that they will be fulfilled? What other projects will they waste money on while UAL becomes weaker in the airline market? History does tend to repeat itself. It's time we held management accountable for their actions.
Where is the Accountability???
During the ESOP, UAL was making money and expanding. We were the number one airline in the world. We had two year Captains and so many aircraft bids that unfilled. UAL had billions of dollars in the bank. In 1999, everything changed. Our management stopped focusing on United Airlines and started spending the money accumulated during the ESOP.
Dark clouds appeared on the horizon. We had videos sent to our homes from Jim Goodwin saying that UAL wanted to be an "employee airline." Did anything really change? Remember the "bonus" program UAL devised? Station managers received bonuses when flights departed on time. How is that for team effort? Everyone else is breaking their back and working as a team to get the flight out on time, and one person receives a bonus? Where was the motivation for everyone else involved?
Throughout 1999, promises were made but were soon broken. Management promised us an "on time, industry-leading contract on-time." Well April 2000 came and went and no contract as promised. It took management six months to finally agree to give us that contract. We soon found there was much bitterness from their side that came with it. We learned very quickly that the company would not honor parts of our new contract. The Aggressive Pickup is still not programmed correctly in accordance with our contract.
The airline industry is very cyclical. There are boom times and down times. My grandparents lived through the depression. What did they always tell me? "Save your money for a rainy day." That's right, save your money for the tough times ahead. Did our management follow that thinking? It appears they just spent money because they had it.
Fast forward to today. Look how the events of one day changed everything. UAL is now losing money everyday. We have union leaders telling us that UAL will run out of cash. How did UAL get into this financial situation? Where is the money for the "rainy days?" Where did the money go?
Over the past three years, we watched our management make pretty bad financial decisions. Many of these investments our management pursued ended up with no return for UAL as a corporation. No wonder our stock is so low.
These business ventures include:
1. Stock buyback program
2. Dividends on Common shares
3. Attempted US Air acquisition
4. Purchase of Internet companies
5. Avolar
Let's look at these one at a time:
1. Stock buyback - Back in 1999, UAL started buying back stock as high as $90/share. Over $800 million was spent to buy back stock to boost shareholder value and increase the stock price. Since then the stock has just fallen lower and lower - Rate of Return for UAL - Zero.
2. Dividends - In 2000, UAL decided to pay dividends to make the stock more attractive. If this theory was true, why aren't Utility stocks that yield from 10 to 20% in dividends just soaring through the roof? Don't believe me? Look at Torch Energy (TRU). Pays 14% yield with a pretty flat price average. Just like the stock buybacks, the stock price kept falling lower - Rate of Return for UAL - Zero.
3. US Air acquisition - In May 2000, UAL announced that they were going to purchase US Air. According to UAL's newsletter Our Times, Over 100 teams made up of UAL employees were set up to "ease the transition." Of those 100 teams, not one member was an UAL crewmember. The acquisition was cancelled last fall. The Wall Street Journal estimated UAL spent over $500 million in the failed venture. Rate of Return for UAL - Zero.
4. Internet Companies - In the late 1990's at the peak of the internet boom, UAL purchased millions of shares in internet companies at their price peaks. One company was www.Priceline.com at $30/share. According to the recent 10-K filing, UAL took a $38 million impairment loss in 2000. Another purchase was www.mypoints.com. Over $250 million were spent on some of these companies. Rate of Return for UAL - Still to be determined.
5. Avolar - In April 2001, UAL announced the start of its own business jet venture. We all knew it would fail because it required good management. One week after 9/11, UAL wired millions to France for more aircraft. Less than a year after its inception with over $100 million spent, the plug was pulled on Avolar and more money went down the drain. Rate of Return for UAL - Zero.
Is there a pattern to these bad investments? I conservatively estimate the total UAL spent well over a $2 billion with little or nothing gained in return. Did any of the above decisions make UAL a stronger company? The answer is NO. What was our return for these investments as a corporation for each of these items I listed above? The answer - Nothing. In other words, UAL is not a stronger company, but much weaker due to upper management's misguided actions.
I know the BOD votes on these major purchases. However, upper management supplies the information and research to the members. Even though these investments failed, they still received their bonuses. My question to management is: Why wasn't anyone accountable for the failure of these investments? Was anyone disciplined, demoted, or fired for these poor decisions? UAL's cash was burning a hole in management's pockets and they couldn't spend it fast enough. As an employee I want an answer of why they chose to squander away money gained during the ESOP off of our wages. I want to know why they are not held accountable for failed business decisions.
We have also been told that UAL cannot borrow money from banks. With UAL's track record, can you blame the banks? Can you imagine how strong our Balance Sheet would be today compared with other airlines if we had not squandered away billions of dollars? Now when UAL attempts to borrow money, we have to pay a higher interest rate because of our "junk bond" status. Is that how any of you invest your B Fund? Would you want any of them to run your B Fund?
As pilots and employees we are held accountable for our actions. I know as a Captain and employee at UAL, I am held accountable. If I miscalculate fuel and have to divert, I have to answer to someone. If I miss a trip, again, I have to answer to someone. Have you once heard anyone from upper management accept responsibility for their actions? With the example they set, we shouldn't be disciplined at all for our mistakes. What incentive is there for senior management to avoid these ill advised schemes in the future?
Some day UAL will be profitable again. Our future is looking better with increased flying this summer. I like what I have read about Mr. Creighton. Unlike Mr. Goodwin, Mr. Creighton appears to be listening and speaking to the employees. He has stated he will hold his upper management to a higher criterion, however, most of these people who made those poor decisions have been reassigned with new titles.
How are we supposed to trust them in the future? Our futures are on the line and we have pilots furloughed. Our management should be held accountable when investments go sour. Does this encourage good leadership from the top from the examples above?
We need to learn from our past and hold people accountable for their decisions. When promises are made, do we believe that they will be fulfilled? What other projects will they waste money on while UAL becomes weaker in the airline market? History does tend to repeat itself. It's time we held management accountable for their actions.
publisher
Well-known member
- Joined
- Nov 27, 2001
- Posts
- 592
Good post
Good post UALExpress as well as the rest of you. WAFU39, I assure you, I come from enough experience to get it just fine. There is no question that I have spend a good deal of time running businesses.
I cannot nor would I defend the record of UAL management of the last few years. Some decisions were mistakes, but others were only mistakes in the light of what happened.
Management makes their decisions trying to look forward and there have been a number of decisions that were made to look foolish in light of the economy sinking worse than thought exacerbated by the terrorist actions.
Avolar, as example, may or may not have been a reasonable investment. It was killed by the terrorists and we will never know how that would have worked out.
USAirways, power play that was questionable from start.
To bring them out of this malaise, I certainly understand that growing revenue is a major part of things. What I also know is that businesses are cutting substantial travel from their current and future budgets. That is not good for United.
I used to say that there would be a large collective sucking of air the first time Southwest airlines made a low pass over Hartsfield. Well the buzzards are circling Chicago as we speak.
You ask why should you help management. Well you are not helping them, you are helping yourself. You have acost structure here of leading labor contracts that are in an airline no longer the leader. The low cost guys are the leaders now.
You can ignore the pleadings of management if you want, the guy killed in the fallout will be you not them. Whoever you have running the place is who you got. If you put on the handcuffs, it will only help them make poor decisions because their flexibilty is gone.
My favorite quick management quote was from an American Airlines pilot some years ago. He said that Crandall was a real censored. Fortunately for him Crandall was there censored.
I really just wanted to point out that if the negotiations take a long time because everyone wants to reinvent the contracts, you are going to wake up on signing day to see your market long gone.
Good post UALExpress as well as the rest of you. WAFU39, I assure you, I come from enough experience to get it just fine. There is no question that I have spend a good deal of time running businesses.
I cannot nor would I defend the record of UAL management of the last few years. Some decisions were mistakes, but others were only mistakes in the light of what happened.
Management makes their decisions trying to look forward and there have been a number of decisions that were made to look foolish in light of the economy sinking worse than thought exacerbated by the terrorist actions.
Avolar, as example, may or may not have been a reasonable investment. It was killed by the terrorists and we will never know how that would have worked out.
USAirways, power play that was questionable from start.
To bring them out of this malaise, I certainly understand that growing revenue is a major part of things. What I also know is that businesses are cutting substantial travel from their current and future budgets. That is not good for United.
I used to say that there would be a large collective sucking of air the first time Southwest airlines made a low pass over Hartsfield. Well the buzzards are circling Chicago as we speak.
You ask why should you help management. Well you are not helping them, you are helping yourself. You have acost structure here of leading labor contracts that are in an airline no longer the leader. The low cost guys are the leaders now.
You can ignore the pleadings of management if you want, the guy killed in the fallout will be you not them. Whoever you have running the place is who you got. If you put on the handcuffs, it will only help them make poor decisions because their flexibilty is gone.
My favorite quick management quote was from an American Airlines pilot some years ago. He said that Crandall was a real censored. Fortunately for him Crandall was there censored.
I really just wanted to point out that if the negotiations take a long time because everyone wants to reinvent the contracts, you are going to wake up on signing day to see your market long gone.
Hartsfield? Are we talking about O'Hare? Or do you mean Midway?
No matter, you bring up, albeit unintentionally, a great point. Delta has UAL+1%. Pattern bargaining works both directions. UAL is demanding concessions and the entire industry is watching b/c American will get whatever UAL gets, and DAL will follow the same path. UAL management is like a bunch of three year old children with lobotomies. It would be insane given their track record to ever give them money, you might as well flush it straight down the toilet.
What U30-2 allows is a solid business plan which will grow the airline. In return, the employee groups make a directed investment that insures that this management doesn't continue on it's merry way in the creation of it's Death Star Express Alliance "Virtual Airline" while protecting the pattern bargaining process and the work rules hard-won over the past seventy years.
Hopefully the new CEO will come with that mandate to fully clean the Do-dahs and Studdert's house and restore United to what it should be.
No matter, you bring up, albeit unintentionally, a great point. Delta has UAL+1%. Pattern bargaining works both directions. UAL is demanding concessions and the entire industry is watching b/c American will get whatever UAL gets, and DAL will follow the same path. UAL management is like a bunch of three year old children with lobotomies. It would be insane given their track record to ever give them money, you might as well flush it straight down the toilet.
What U30-2 allows is a solid business plan which will grow the airline. In return, the employee groups make a directed investment that insures that this management doesn't continue on it's merry way in the creation of it's Death Star Express Alliance "Virtual Airline" while protecting the pattern bargaining process and the work rules hard-won over the past seventy years.
Hopefully the new CEO will come with that mandate to fully clean the Do-dahs and Studdert's house and restore United to what it should be.
Ualexpress
Well-known member
- Joined
- Feb 13, 2002
- Posts
- 118
<<I would hope any concessions UAL pilots negotiate would include a snabback or experation date.>>
From what I have seen on this board and from what I have heard from my dad and brother (both UAL pilots) most pilots won't even consider concessions until:
1. All the executives below Creighton are sumarily shown the door, and
2. All shareholders in the company (all employee, management, and creditors) participate in a Recovery Plan.
2. There is a snapback date to the original pay and work rules when economic conditions improve.
If the above does not happen, then forget it.
From what I have seen on this board and from what I have heard from my dad and brother (both UAL pilots) most pilots won't even consider concessions until:
1. All the executives below Creighton are sumarily shown the door, and
2. All shareholders in the company (all employee, management, and creditors) participate in a Recovery Plan.
2. There is a snapback date to the original pay and work rules when economic conditions improve.
If the above does not happen, then forget it.
publisher
Well-known member
- Joined
- Nov 27, 2001
- Posts
- 592
HvyjetFO
Well-known member
- Joined
- Feb 7, 2002
- Posts
- 52
<<With that attitude, we will see the demise of UAL. This justs reflects that some don't get it.
Restore United to what it used to be, I don't think so.
Too many people wanting to make a point, not enough realizing they are part of the problem not the soulution.>>
Publisher,
While everyone is entitled to their own oppinion, your quote from above reflects your lack of knowledge on the subject matter, and the industry. You have lost all credibility that I gave you the doubt of having in the first place.
I could go into detail as to why I don't particularly favor concessions, but I am not inclined to do so with you as it is as useless as explaining nuclear physics to a third grader.
My oppinion is that you are the one that doesn't get it, so stop telling me what I should or should not do with my money.
Hvy
Restore United to what it used to be, I don't think so.
Too many people wanting to make a point, not enough realizing they are part of the problem not the soulution.>>
Publisher,
While everyone is entitled to their own oppinion, your quote from above reflects your lack of knowledge on the subject matter, and the industry. You have lost all credibility that I gave you the doubt of having in the first place.
I could go into detail as to why I don't particularly favor concessions, but I am not inclined to do so with you as it is as useless as explaining nuclear physics to a third grader.
My oppinion is that you are the one that doesn't get it, so stop telling me what I should or should not do with my money.
Hvy
publisher
Well-known member
- Joined
- Nov 27, 2001
- Posts
- 592
Geez
Geez, I did not know it was your money. Maybe the shareholders money, maybe the passengers money, but your money, I don't think so.
I also want to make it clear that I am not talking pilots only, I think everyone there is going to have to realize that between them and USAirways, you are not the carriers that you used to be and the opportunity of you going forward with the contracts you have will harm the company and lead to lost marketshare. The cost of your infrastructure will leave United weakened and suseptible to attack by the stronger niche players like Southwest.
The cost of labor to UAL was being questioned long before September 11th on a number of fronts. There will be new management and there will be concessions.
Geez, I did not know it was your money. Maybe the shareholders money, maybe the passengers money, but your money, I don't think so.
I also want to make it clear that I am not talking pilots only, I think everyone there is going to have to realize that between them and USAirways, you are not the carriers that you used to be and the opportunity of you going forward with the contracts you have will harm the company and lead to lost marketshare. The cost of your infrastructure will leave United weakened and suseptible to attack by the stronger niche players like Southwest.
The cost of labor to UAL was being questioned long before September 11th on a number of fronts. There will be new management and there will be concessions.
Ualexpress
Well-known member
- Joined
- Feb 13, 2002
- Posts
- 118
<<Too many people wanting to make a point, not enough realizing they are part of the problem not the soulution.>>
Exactly publisher, that has been the attitude of the management of UAL. Just like when the CFO who upon the United pilots recieving their new contract said "Congratulations on your new contract boys, good luck in keeping it. WTF over! Nice employee relation building. They just don't get it. This management needs to go. What part of that do you not understand. You do not have the experience within this industry to know what the heck you are speaking of. I think you need to spend a few years at an airline being bent over time and time again. Until then I hold no respect for anything you have to say. Your opinions obviuosly slant way twords the management side of things and refuse to see things the way employees do. The employees of United have tried to see things the way management does (i.e. taking huge pay cuts for ESOP) and have watched while that money was flushed down the toilet. Why would they want to do that again given their track record.
One more piece of advice. Read Flying the Line Volume I and II as well as Rapid Descent and Hard Landings. Gauranteed eye opener my friend.
Exactly publisher, that has been the attitude of the management of UAL. Just like when the CFO who upon the United pilots recieving their new contract said "Congratulations on your new contract boys, good luck in keeping it. WTF over! Nice employee relation building. They just don't get it. This management needs to go. What part of that do you not understand. You do not have the experience within this industry to know what the heck you are speaking of. I think you need to spend a few years at an airline being bent over time and time again. Until then I hold no respect for anything you have to say. Your opinions obviuosly slant way twords the management side of things and refuse to see things the way employees do. The employees of United have tried to see things the way management does (i.e. taking huge pay cuts for ESOP) and have watched while that money was flushed down the toilet. Why would they want to do that again given their track record.
One more piece of advice. Read Flying the Line Volume I and II as well as Rapid Descent and Hard Landings. Gauranteed eye opener my friend.
furloughed
Well-known member
- Joined
- Dec 2, 2001
- Posts
- 74
publisher,
with all due respect, you seem to think concessions are the end all be all that will save United. Continental wallowed in mediocracy for over a decade with deep employee concessions. Nothing changed for Continental Until someone came in that actually knew how to run an airline. Eastern went under even though the employees took concessions. Same with Pan AM. Why? Eastern was driven into the ground by Frank Lorenzo and Pan Am management failed to adjust to a deregulated world.
Like the previous poster said, read Flying the Line I and II. Interesting read and good history lesson for those not familiar with union/management relations in the airline industry.
with all due respect, you seem to think concessions are the end all be all that will save United. Continental wallowed in mediocracy for over a decade with deep employee concessions. Nothing changed for Continental Until someone came in that actually knew how to run an airline. Eastern went under even though the employees took concessions. Same with Pan AM. Why? Eastern was driven into the ground by Frank Lorenzo and Pan Am management failed to adjust to a deregulated world.
Like the previous poster said, read Flying the Line I and II. Interesting read and good history lesson for those not familiar with union/management relations in the airline industry.
HvyjetFO
Well-known member
- Joined
- Feb 7, 2002
- Posts
- 52
Re: Geez
Do you have any idea what you are talking about whatsoever? If management comes to my pilot group and asks for X amount of a paycut, is this not my money and that of my fellow pilots to give back? Is it not MY contractually negotiated wages that are being threatened? How is this shareholder and passenger money?
Labor costs are not the problem. A revenue shortfall is the problem. Two entirely different entities, but it's easier to blame how much pilots make rather than to generate revenue in a short timeframe.
Hvy
publisher said:
Do you have any idea what you are talking about whatsoever? If management comes to my pilot group and asks for X amount of a paycut, is this not my money and that of my fellow pilots to give back? Is it not MY contractually negotiated wages that are being threatened? How is this shareholder and passenger money?
Labor costs are not the problem. A revenue shortfall is the problem. Two entirely different entities, but it's easier to blame how much pilots make rather than to generate revenue in a short timeframe.
Hvy
furloughed
Well-known member
- Joined
- Dec 2, 2001
- Posts
- 74
<<I think everyone there is going to have to realize that between them and USAirways, you are not the carriers that you used to be>>
I think its safe to say no airline is the carrier it used to be after Sept 11th with the exception of SWA.
Now for some good news.
United Airlines Moves Up Dramatically in DOT Performance Rankings
- Carrier 3rd in On-Time Arrivals and Baggage Service -
CHICAGO, May 6 /PRNewswire-FirstCall/ -- United Airlines (NYSE: UAL - news) soared over much of the competition and finished in third place in three key operational categories -- on-time arrivals, fewest cancellations and baggage service -- ranked by the U.S. Department of Transportation. The Government's statistics for March were announced earlier today.
Compared to 2001, United moved up from sixth place to third in on-time arrivals and from ninth place to third in terms of percentage of flights completed. The company's mishandled bag rate per 1,000 customers was also near the top of the industry, bumping United up from eighth place last year to third.
I think its safe to say no airline is the carrier it used to be after Sept 11th with the exception of SWA.
Now for some good news.
United Airlines Moves Up Dramatically in DOT Performance Rankings
- Carrier 3rd in On-Time Arrivals and Baggage Service -
CHICAGO, May 6 /PRNewswire-FirstCall/ -- United Airlines (NYSE: UAL - news) soared over much of the competition and finished in third place in three key operational categories -- on-time arrivals, fewest cancellations and baggage service -- ranked by the U.S. Department of Transportation. The Government's statistics for March were announced earlier today.
Compared to 2001, United moved up from sixth place to third in on-time arrivals and from ninth place to third in terms of percentage of flights completed. The company's mishandled bag rate per 1,000 customers was also near the top of the industry, bumping United up from eighth place last year to third.
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