SECOND SPECIAL NEWSREALThursday, Jan. 21, 1999
United Confirms Interest in Acquiring America West
United Wednesday night confirmed that it has expressed an interest in a possible acquisition of America West Airlines.
"Last night, our interest in America West was leaked to the news media," says Jerry Greenwald. "While we can confirm that we have expressed an interest to America West about a possible acquisition, we can't disclose any more information at this time for both legal and financial reasons.
"Because both United and America West are public companies, any speculation could adversely affect the stock or shareholders of both carriers. Confidentiality at this stage also is important to protect any competitive and strategic information that our rival carriers could use to counter our plans.
"In addition," Greenwald continues, "we, unfortunately, are prevented by law from communicating this kind of information to employees before public shareholders -- although we should have shared this information with employees last night when we released it publicly.
"I want to assure you that anything we are investigating will be in the best interests of our employees and our shareholders" Greenwald adds. "I understand you may have many concerns about these kinds of decisions, and we would have preferred to release this information when we had more details to provide you. We will give you more information when we can and will ensure that any choices we make will build a stronger, more successful United."