The article below from NYTimes.com has been sent to you by psa188@xxxxxxxxx /--------- E-mail Sponsored by Fox Searchlight ------------\ I HEART HUCKABEES - OPENING IN SELECT CITIES OCTOBER 1 From David O. Russell, writer and director of THREE KINGS and FLIRTING WITH DISASTER comes an existential comedy starring Dustin Hoffman, Isabelle Hupert, Jude Law, Jason Schwartzman, Lily Tomlin, Mark Wahlberg and Naomi Watts. Watch the trailer now at: http://www.foxsearchlight.com/huckabees/index_nyt.html \----------------------------------------------------------/ United Airlines Sees More Job Losses September 16, 2004 By REUTERS Filed at 10:29 a.m. ET BRUSSELS (Reuters) - The head of UAL Corp.'s United Airlines on Thursday said the airline's restructuring plan would lead to a significant number of job losses, but it was not yet clear how many. ``There will be a significant number of staff reductions as part of a $655 million cost-cutting program the company is currently working on,'' Chief Executive Glenn Tilton said at an industry event in Brussels. He said, however, it was to early to say how many jobs would be lost and declined to confirm reports of 6,000 job cuts. This would equal about 10 percent of the airline's workforce. Tilton also said it would be another 90 days before the airline decides whether to terminate its union pension plan. The Bush administration last month expressed concern that United might scrap its underfunded employee pension plans, which would shift the burden of paying benefits to the government. United has missed a $72 million payment on its employee retirement accounts and suspended two due this fall totaling nearly $500 million to give it more financial flexibility as it tries to lure investors for post-bankruptcy financing. There is concern that a move by United to scrap its pensions could prompt other struggling airlines to do the same with their underfunded accounts. That may bankrupt the Pension Benefit Guaranty Corp and trigger a taxpayer bailout much like the one approved by Congress for the savings and loan industry more than a decade ago. Asked whether United would consider investment by private equity firms, Tilton said the airline would first seek financing from its bankers. ``We'll see whether or not we need to extend ... financing beyond the credit markets and the debt markets,'' he said. Tilton also said he wanted US Airways Group Inc to survive its bankruptcy proceeding so the two airlines could continue their code-sharing agreement. ``First prize for United is that US Airways takes full advantage of the opportunity they have in revisiting their restructuring and they emerge as a competitive and robust contributor to our code-share agreement,'' he said. United has been in bankruptcy since December 2002. US Airways filed for its second bankruptcy in two years earlier this month. http://www.nytimes.com/reuters/business/business-airlines-united-jobs.html?ex=1096362330&ei=1&en=c2c353d792cde4cc --------------------------------- Get Home Delivery of The New York Times Newspaper. Imagine reading The New York Times any time & anywhere you like! Leisurely catch up on events & expand your horizons. Enjoy now for 50% off Home Delivery! Click here: http://homedelivery.nytimes.com/HDS/SubscriptionT1.do?mode=SubscriptionT1&ExternalMediaCode=W24AF HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2004 The New York Times Company