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-11.17.25

AirborneNextGen-
11.11.25

Airborne-Unlimited-11.12.25

Airborne-FltTraining-11.13.25

AirborneUnlimited-11.14.25

LIVE MOSAIC Town Hall (Archived): www.airborne-live.net

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

ANN's Daily Aero-Term (11.16.25): NonApproach Control Tower

NonApproach Control Tower Authorizes aircraft to land or takeoff at the airport controlled by the tower or to transit the Class D airspace. The primary function of a nonapproach co>[...]

Aero-News: Quote of the Day (11.16.25)

“This shutdown inflicted real damage. Beyond disrupting operations and adding risk into the aviation system… it hindered essential career growth opportunities and stal>[...]

ANN's Daily Aero-Linx (11.16.25)

Aero Linx: The Mooney Mite Site Dedicated to the Mooney M-18 Mite, "The Most Personal Airplane," and to supporting Mite owners everywhere. The Mooney M-18 Mite is a single-place, l>[...]

NTSB Final Report: Vans Aircraft Inc RV-12

Pilot’s Improper Installation Of The Control Stick Pushrod Assemblies, Which Resulted In Separation Of The Left Pushrod And A Total Loss Of Roll Control Analysis: While retur>[...]

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



Advertisement

Advertisement

Podcasts

Advertisement

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