UAL Wants Out Of Bankruptcy In Fall | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.13.24

Airborne-NextGen-05.14.24

Airborne-Unlimited-05.15.24 Airborne-AffordableFlyers-05.16.24

Airborne-Unlimited-05.17.24

Tue, Jun 08, 2004

UAL Wants Out Of Bankruptcy In Fall

Says Exit Depends On ATSB Funds

United Airlines has asked a federal judge for more time -- three months more, to be specific -- so it can finalize and present its financial reorganization plan to stockholders.

Originally, United said it would emerge from Chapter 11 bankruptcy over the summer. But the airline is still looking for about $1 billion from the Air Transportation Stabilization Board. That's money that House Aviation Subcommittee Chairman John Mica (R-FL) says probably won't be forthcoming.

In its Friday filing with the Chicago federal court, United said, "a projected exit (from Chapter 11) during the fall is a more realistic possibility, although the exact timetable will not crystallize until the ATSB reaches a decision."

UAL, the world's second-biggest airline behind American, filed for bankruptcy in December 2002, predicting at the time it would need about 18 months to get its financial act back together. But so far, Washington has refused to part with the ATSB money United says it needs to regain its feet.

FMI: www.ual.com

Advertisement

More News

Classic Aero-TV: Remembering Bob Hoover

From 2023 (YouTube Version): Legacy of a Titan Robert (Bob) Anderson Hoover was a fighter pilot, test pilot, flight instructor, and air show superstar. More so, Bob Hoover was an i>[...]

ANN FAQ: Follow Us On Instagram!

Get The Latest in Aviation News NOW on Instagram Are you on Instagram yet? It's been around for a few years, quietly picking up traction mostly thanks to everybody's new obsession >[...]

ANN's Daily Aero-Linx (05.15.24)

Aero Linx: B-52H Stratofortress The B-52H Stratofortress is a long-range, heavy bomber that can perform a variety of missions. The bomber is capable of flying at high subsonic spee>[...]

ANN's Daily Aero-Term (05.15.24):Altimeter Setting

Altimeter Setting The barometric pressure reading used to adjust a pressure altimeter for variations in existing atmospheric pressure or to the standard altimeter setting (29.92).>[...]

Aero-News: Quote of the Day (05.16.24)

"Knowing that we play an active part in bettering people's lives is extremely rewarding. My team and I are very thankful for the opportunity to be here and to help in any way we ca>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC