UAL Corp. pulls the plug on startup bizav venture Avolar
Little more than a week after halting efforts to find outside investors for a majority share in its Avolar business aviation venture, United Airlines paren

Little more than a week after halting efforts to find outside investors for a majority share in its Avolar business aviation venture, United Airlines parent UAL Corp. pulled the plug entirely on March 22 and announced it is closing down the Chicago-based subsidiary.

“Since my arrival in October, we have explored every possible option that would have enabled UAL to benefit from its original investment in this subsidiary,” said United CEO Jack Creighton. “Unfortunately, none of them proved financially viable in the current airline operating environment created by the downturn in the economy and exacerbated by the September 11 terrorist attacks.”