United Airlines Announces Plans to Reduce Worldwide Schedule By 20 Percent

United Airlines (NYSE: UAL) announced today that it is reducing its worldwide schedule by 20 percent based on systemwide available seat miles. The reduction is in direct response to the current and anticipated adverse impact on air travel due to Tuesday's terrorist attack. A reduced schedule should minimize delays and customer inconvenience that may occur because of the new security procedures.

"We continue to focus on meeting the needs of the families of customers and employees who were victimized in these terrible events," said Jim Goodwin, chairman and chief executive officer of United parent UAL Corp.

"We also must face the economic reality of the impact on our industry and our company," commented Goodwin. "The United States' economy relies heavily on the stability of the air travel industry, and it's important that we continue to focus on actions to ensure the financial security of our company. For this reason, we feel it is important that the administration and congressional leadership continue to work collaboratively with the industry to seek solutions to achieve the ongoing viability of the industry."

Before Tuesday, United Airlines offered nearly 2,400 flights a day to 130 destinations in 27 countries and two U.S. territories. United will announce details of its plans as they become available.