UAL Corporation (Nasdaq: UAUA) recently applauded a bilateral agreement between Japan and the United States that would ease restrictions that currently exist on air transportation between the U.S. and Japan, and would further enhance the company's Pacific network. An agreement will benefit customers, employees, investors and strengthen United's Asia network.
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"We congratulate the U.S. and Japanese delegates for reaching this historic agreement as we have long advocated for Open Skies with Japan because it will benefit our customers, our employees and our investors as we strengthen our Pacific network," said Glenn Tilton, UAL president, chairman and CEO. "We have the right partners and look forward to forming a joint venture across the Pacific with our longtime partner All Nippon Airways and Continental, which joined the Star Alliance in October, providing our customers with access to more destinations and convenient schedules." ANA is Japan's second largest airline, with hubs in Tokyo, Narita, Kansai and Osaka. It has been a member of the Star Alliance since 1999. United expects to file an application with the Department of Transportation for anti-trust immunity across the Pacific with Continental and ANA shortly. Earlier this year, the Department of Transportation awarded anti-trust immunity to United, Continental, Lufthansa and Air Canada for its joint venture across the Atlantic. An immunized alliance would substantially expand the global reach of the carriers' networks, providing customers access to larger inventories of seats and cargo capacity, serving more destinations, offering a greater selection of routings, and providing consumers a wider range of competitive fare and service options. Last week United announced it was purchasing 50 next-generation widebody aircraft, including 25 Airbus A350 and 25 Boeing 787 Dreamliners, both of which would be used to serve United's Pacific network. United Airlines, a wholly-owned subsidiary of UAL Corporation (Nasdaq:UAUA), operates approximately 3,300* flights a day on United and United Express to more than 200 U.S. domestic and international destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago and Washington, D.C. With key global air rights in the Asia-Pacific region, Europe and Latin America, United is one of the largest international carriers based in the United States. United also is a founding member of Star Alliance, which provides connections for our customers to 1,071 destinations in 171 countries worldwide. United's 47,000 employees reside in every U.S. state and in many countries around the world.
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