United Airlines employees bought the majority of the company in 1994. It was literally an employee owned airline so they had every incentive to keep customers happy and find ways to boost shareholder returns. But the unions managed to wreck the company (again) and never delivered any better service to customers.
Excessive investment of one's pension fund in the airline itself makes for some very disgruntled employees working well past the average age of retirement. United managed to shift a lot of it's post 9/11 losses onto the employee pension fund as a result of the union buy-in to company ownership.
nradov|4 years ago
https://www.latimes.com/archives/la-xpm-1994-07-13-mn-15156-...
swiftcoder|4 years ago