United Airlines finally left bankruptcy Wednesday, a leaner and more cost-efficient carrier after a painful restructuring that began in 2002 and lasted a record 1,150 days. Labor costs are down by more than $3 billion annually after two steep pay cuts and the elimination of defined-benefit pensions. Dozens of daily domestic flights have been eliminated.
See "United Finally Flying Out of Bankruptcy", Associated Press, The New York Times, January 31, 2006