Make Money in Aviation: Bill UAL $100,000 a Day | 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-02.03.25

Airborne-NextGen-02.04.25

Airborne-Unlimited-02.05.25

Airborne-FlightTraining-02.06.25

Airborne-Unlimited-02.07.25

Thu, Jan 30, 2003

Make Money in Aviation: Bill UAL $100,000 a Day

Paul Merrion, in Crain's Chicago Business, says that, "Chicago's Kirkland & Ellis, the lead law firm handling the bankruptcy of United Airlines parent UAL Corp., billed almost $2.3 million in legal fees and expenses — or about $100,000 a day — during December, according to a U.S. Bankruptcy Court filing." About 1/5 of that, Merrion says, is billed in relation to the airline's numerous petitions to get the Court to break union contracts.

In the meantime, the airline is working on its unions to reduce costs. It announced over 700 flight attendant layoffs, in the past week; and its pilots, mechanics, dispatchers, ground and ticket agents -- everyone -- is feeling the pinch. Even management has been taking home less.

Lawyers, though, get paid, regardless (perhaps a perq of being the majority of most legislatures, where bankruptcy payouts are set; and they're nearly the entire "judge class," too, just in case a nickel somehow rolls through the cracks).

It's tough being a lawyer and not being appreciated, though. Crain's noted that, "...legal fees alone actually totaled more than $2,400,000, but [the firm] had voluntarily discounted its fees by $19,136..."

The most-expensive lawyer on the case billed $680 an hour, said the paper. Plus expenses, of course. You'll love this -- law firms don't believe in overhead: Crain's saw that "...it took 85 hours to prepare the billing report at a cost of $25,000 in fees and expenses."

The world's #2 airline isn't just sitting around, though, It's expected to announce a major restructuring, some time today.

FMI: www.ual.com

Advertisement

More News

Aero-News: Quote of the Day (02.09.25)

“We are very pleased to enter into this MoU agreement with Gogo, especially as we aim to offer our Airbus ACJ operators and business leaders the highest standard connectivity>[...]

ANN's Daily Aero-Linx (02.09.25)

Aero Linx: Rhode Island Pilots Association (RIPA) The Rhode Island Pilots Association represents the GA community based at seven airports in the State of Rhode Island. Our mission >[...]

Airborne-Flight Training 02.06.25: AeroEducate, Mil KingAirs, PilotWorkshops

Also: Lufthansa Dreamliner Sim, ATC Can't Quit, NBAA Leadership, Acting FAA Head ierra Space is becoming the newest content provider for EAA’s AeroEducate online resource and>[...]

Airborne 02.05.25: No Outs 4 ATC, Sporty's Acquires, 'Black' Boxes

Also: NOTAM System Restored, Textron Mil Trainers, Axiom Space, Police Rescues Cirrus Pax The Trump administration’s attempt at downsizing the federal workforce has run into >[...]

Airborne 02.03.25: Drone Pilot Bust, New Acting FAA Boss, PNE Lear Accident

Also: 2 Blimps For OSH, USCG-Airbus Deal, Japan Buys T-6s, Starliner Boss Replaced A 56-year-old California man recently pled guilty after he flew his drone into a Super Scooper fi>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC