=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SFGate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2004/09/17/f= inancial0847EDT0020.DTL --------------------------------------------------------------------- Friday, September 17, 2004 (AP) Bankruptcy filing says United needs to cut $500 million more in costs (09-17) 09:35 PDT CHICAGO (AP) -- United Airlines, in a bankruptcy court filing in advance of a status hearing Friday, has revealed it needs to cut $500 million more in costs than previously stated. The disclosure, filed Thursday, was not mentioned during a previously scheduled hearing Friday morning before U.S. Bankruptcy Judge Eugene Wedoff. "In light of sharp increases in fuel prices and the persisting weakness = in yields, there is no hiding from the unpleasant reality that, to secure exit financing not guaranteed by the (Air Transportation Stabilization Board), the company believes that it will require hundreds of millions of dollars in additional cost reductions -- indeed, in the neighborhood of $500 million," the filing said. United has not decided where the additional money will be found, spokesm= an Jeff Green said. The cuts would come on top of $600 million in cost savings that the company announced two weeks ago. The job cuts and outsourcing in maintenance and airport operations would save closer to $655 million, chief executive Glenn Tilton told an aviation group Thursday. A union representative said he was not aware of the additional cuts, or = if they would affect workers. United has about 62,000 employees, down from more than 100,000 three years ago. "We haven't been advised of any new cost-cutting programs by United Airlines," said Joseph Tiberi, a spokesman for the International Association of Machinists and Aerospace Workers. In its filing, United also outlined ways in which it planned to keep in closer touch with its unions. The carrier said it is willing to work with its unions to "stress test" its belief that employees' pension plans would need to be terminated. United angered its employees when, desperate to conserve cash, it stopped contributions to its pension plans and then said in August that the funds likely will be terminated as it seeks to attract financing. ---------------------------------------------------------------------- Copyright 2004 AP