United Asks For More Time | 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-06.10.24

Airborne-NextGen-06.11.24

 Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.14.24

Tue, Aug 10, 2004

United Asks For More Time

Wants To File Reorganization Plan At End Of Year

United Airlines' parent company, UAL, wants a little more time. Four months, to be exact.

The world's second-biggest airline says it thinks it "may require six months or more to complete the foregoing exit process and other restructuring initiatives," according to Reuters.

United filed for bankruptcy in December, 2002. Scheduled to emerge from Chapter 11 at the end of this month, the airline now says it needs more time to wrap up talks with potential lenders. The company says it will consider taking on a partner "only if necessary," according to Reuters.

Last month, the government turned United down cold in its request for $1.1 billion in loan guarantees. To that, United responded, "To obtain exit financing not largely backed by the full faith and credit of the United States, and in the midst of record-high fuel prices and a highly competitive revenue environment, United must embark on significant additional restructuring initiatives, including additional cost-cutting and efficiency improvements, to develop a more austere business plan."

FMI: www.united.com

Advertisement

More News

ANNouncement: Now Accepting Applications For Oshkosh 2024 Stringers!!!

An Amazing Experience Awaits The Chosen Few... Oshkosh, to us, seems the perfect place to get started on watching aviation recover the past couple of years... and so ANN is putting>[...]

Aero-News: Quote of the Day (06.13.24)

“NBAA has a tremendous responsibility to the business aviation industry, and we are constantly collaborating with them. Our flight departments, professionals and aircraft own>[...]

ANN's Daily Aero-Term (06.13.24): Dead Reckoning

Dead Reckoning Dead reckoning, as applied to flying, is the navigation of an airplane solely by means of computations based on airspeed, course, heading, wind direction, and speed,>[...]

ANN's Daily Aero-Linx (06.13.24)

Aero Linx: Vertical Aviation Safety Team (VAST) We are a public–private initiative to enhance worldwide flight operations safety in all segments of the vertical flight indust>[...]

ANN FAQ: How Do I Become A News Spy?

We're Everywhere... Thanks To You! Even with the vast resources and incredibly far-reaching scope of the Aero-News Network, every now and then a story that should be reported on sl>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 06.14.24: Air Race Classic, Bong's P-38, Powered Lift Regs

Airborne-Flight Training 06.13.24: Abandoned Students, Nolinor C172, Simming

Airborne 06.12.24: Stupid Heli Trix, Seaplane v Boat, Aussie NIMBY

See All

Advertisement

Podcasts

Advertisement

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