United Airlines ready for some uniting

CHICAGO, Sept. 26 (UPI) -- Chicago's United Airlines is apparently interested in getting united with another corporation, the Chicago Tribune reported Tuesday.

The head of United's parent company, UAL Corp., told an industry group Monday that his company needs to aggressively pursue "structural change, which enables us to become strong, global competitors."

Such comments by Glenn Tilton reinforce industry buzz arising from unconfirmed reports that United has hired Wall Street investment bank Goldman Sachs Group Inc. to vet potential buyers, takeover targets or merger partners.

Ray Neidl of Calyon Securities said in a note to investors Monday that United brass is indicating "it would want to remain in control if United participated in a merger."

Another scenario would be Tilton leaving, with a platinum parachute.

If Tilton wants to leave, then United would likely become a takeover candidate and a deal "could be the Glenn Tilton retirement program," said Robert Mann, an airline consultant.