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-05.06.24

Airborne-NextGen-04.30.24

 Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

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

ANN's Daily Aero-Linx (05.04.24)

Aero Linx: JAARS Nearly 1.5 billion people, using more than 5,500 languages, do not have a full Bible in their first language. Many of these people live in the most remote parts of>[...]

NTSB Final Report: Quest Aircraft Co Inc Kodiak 100

'Airplane Bounced Twice On The Grass Runway, Resulting In The Nose Wheel Separating From The Airplane...' Analysis: The pilot reported, “upon touchdown, the plane jumped back>[...]

Aero-News: Quote of the Day (05.04.24)

"Burt is best known to the public for his historic designs of SpaceShipOne, Voyager, and GlobalFlyer, but for EAA members and aviation aficionados, his unique concepts began more t>[...]

Aero-News: Quote of the Day (05.05.24)

"Polaris Dawn, the first of the program’s three human spaceflight missions, is targeted to launch to orbit no earlier than summer 2024. During the five-day mission, the crew >[...]

Read/Watch/Listen... ANN Does It All

There Are SO Many Ways To Get YOUR Aero-News! It’s been a while since we have reminded everyone about all the ways we offer your daily dose of aviation news on-the-go...so he>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne-NextGen 05.07.24: AI-Piloted F-16, AgEagle, 1st 2 WorldView Sats

Airborne 05.06.24: Gone West-Dick Rutan, ICON BK Update, SpaceX EVA Suit

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

See All

Advertisement

Podcasts

Advertisement

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