United Airlines Quietly Emerges from Bankruptcy

United Airlines quietly celebrated its departure from bankruptcy Wednesday, a leaner and more cost-efficient carrier after a painful restructuring that began in 2002 and lasted a record 1,150 days.

America´s number-two airline said it would officially exit Chapter 11 when it files documents in U.S. Bankruptcy Court by day´s end. But it was marking the event in low-key fashion throughout the day even before that formality, sending top executives to airports around the country to thank United employees and customers for their patience.

Passengers likely did not notice an immediate difference, since United never stopped flying even when multibillion-dollar losses forced it to seek protection from its creditors in federal bankruptcy court. But the Elk Grove Village, Ill.-based airline has made one change after another since early in its three-year overhaul.

It now has about 30 percent fewer employees (58,000), 20 percent fewer airplanes (460) and 20 percent lower operating costs (7.5 cents per seat per mile), excluding fuel, than it did when the bankruptcy began on December 9, 2002.

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.

Some things are up, too, including the number of international routes, on-time arrivals, the percentage of seats filled and the cost of on-board meals, no longer free to all.