al airline.The end of World War II brought a brief period of euphoria to the war-weary people of the United States. Rationing was over, business and industry were back to a peacetime mode, and the nation was feeling the feverish excitement of the boom times economists had predicted.But while the forecasters were correct in their predictions, none came close to foretelling the suddenness and intensity with which the boom would thrust itself upon the nation, particularly upon the air transport industry. Airline fares had been reduced 10 percent since 1941, making it cheaper in many cases to travel by air than by rail.United's fortunes changed in 1970 when the company posted a loss of $47 million just two years after making record profits. The company ran through a string of sixpresidents between 1970 and 1989 and changed its name twice as it fluctuated between further diversification and a return to its core airline business. Adding to the turbulencewas United's purchase of Pan Am's Pacific Division and the deregulation of U.S. airlines.As the 20th century drew to a close, United redefined itself. Now operating in a deregulated environment, the company inaugurated service to Europe and South America and expanded its number of Pacific Rim destinations. United also adopted a new livery and logo befitting a global airline. Most important, United established its Employee Stock Ownership Plan, creating the world's largest majority employee-owned company in the world.As it flies into the new millennium, United continues to lead commercial aviation. Shuttle by United, launched in 1994, competes successfully against a new wave of low-cost carriers. Star Alliance, a global partnership formed in 1997 by United and four international carriers, continues to grow and expand United's reach. A company priority is customer satisfaction and living up to its new slogan: "Rising."...
