According to the terms of a $25 billion rescue fund created earlier this year under the CARES Act, airlines are prohibited from cutting jobs or cutting workers` wages before September 30. United received $5 billion through the program. Pilots have specific training requirements that make it more difficult and time-consuming to bring them back, which has given the pilots` union greater influence in negotiating an employment savings contract. The airline`s representatives said Monday that the deal would reduce involuntary job cuts to less than 12,000 if Congress does not provide more assistance to airlines before Thursday`s deadline expires. In July, the company sent redundancy alerts to 36,000 employees. United Airlines pilots have voted in favor of a deal that will avoid about 2,850 Furloughs, which were due to come into effect this week, and another 1,000 early next year. The live webcast will be available on United`s website at ir.united.com in the Investor Relations section. The company will archive the video webcast on the site within 24 hours of the presentation, and the webcast will be available for a limited time. Last month, we announced with the International Brotherhood of Teamsters an agreement on a leading contract for technicians and related employees. That is why we were disappointed today to hear the IBT say that its negotiating committee had voted against the fundamental transformation of the language of the agreement into an interim agreement. Our agreement in principle with the IBT is still in place and we remain in the conciliation negotiations. The agreement reached earlier this month by union negotiators provides for a new chance for pilots over 50 pre-retirements.
About 94% of United pilots took part in the ratification vote. United Airlines and United Express fly an average of nearly 5,000 flights a day to 352 airports on six continents. In 2014, United and United Express flew nearly two million flights with 138 million customers. United is proud to have the largest network in the world, including continental U.S. platforms in Chicago, Denver, Houston, Los Angeles, New York/Newark, D.C. United operates more than 700 major aircraft, and this year the airline plans to deliver 34 new Boeings, including the 787-9 and 737-900. United also welcomes 49 new Embraer E175 aircraft from United Express. The airline is a founding member of Star Alliance, which serves more than 28 member airlines in 192 countries.
Approximately 84,000 United employees live in all U.S. states and countries around the world. For more information, visit united.com, follow @United on Twitter or log on to Facebook. United Continental Holdings, Inc.`s common stock is traded on the NYSE under the symbol UAL. (WASHINGTON) – On Tuesday, February 5, the International Brotherhood of Teamsters and United Airlines will jointly ask the National Mediation Board (NMB) to negotiate an agreement on maintenance controllers working in the company.