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...and will certainly be unpopular with many, but is probably the only way to save UAL:

Do a "Continental" and declare bankruptcy.

Like all the other long-time majors, too much of UAL is still configured "pre-deregulation" in term of asset financing and union contracts.

As for all the suggestions re fiscal incentives for employee performance? Forget them. They are prohibited by union contracts. You have to treat all employees the same, no matter how unruly or incompetent.
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