No good news from United yesterday:
–United posted a $225 million loss for November (excluding one-time gains). The article has more detail, but none of it is good.
–An independent analysis of United’s business plan to emerge from bankruptcy found that even if the plan succeeded the airline may still ultimately fail. Not what you want to hear.
–And finally, the head of United’s machinists union said that the same plan is unfeasible, as it assumes the termination of union pension plans, a move that he said the unions would not make voluntarily.
In sum, a miserable day for an airline that is struggling more than everybody thought a couple of months ago.