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-04.22.24

Airborne-Unlimited-04.16.24

 Airborne-FlightTraining-04.17.24 Airborne-AffordableFlyers-04.18.24

Airborne-Unlimited-04.19.24

Join Us At 0900ET, Friday, 4/10, for the LIVE Morning Brief.
Watch It LIVE at www.airborne-live.net

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

SpaceX to Launch Inversion RAY Reentry Vehicle in Fall

Inversion to Launch Reentry Vehicle Demonstrator Aboard SpaceX Falcon 9 This fall, the aerospace startup Inversion is set to launch its Ray reentry demonstrator capsule aboard Spac>[...]

Aero-News: Quote of the Day (04.23.24)

"We are excited to accelerate the adoption of electric aviation technology and further our journey towards a sustainable future. The agreement with magniX underscores our commitmen>[...]

Aero-News: Quote of the Day (04.20.24)

"The journey to this achievement started nearly a decade ago when a freshly commissioned Gentry, driven by a fascination with new technologies and a desire to contribute significan>[...]

ANN's Daily Aero-Linx (04.20.24)

Aero Linx: OX5 Aviation Pioneers Each year a national reunion of OX5 Aviation Pioneers is hosted by one of the Wings in the organization. The reunions attract much attention as man>[...]

Aero-News: Quote of the Day (04.21.24)

"Our driven and innovative team of military and civilian Airmen delivers combat power daily, ensuring our nation is ready today and tomorrow." Source: General Duke Richardson, AFMC>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 04.22.24: Rotor X Worsens, Airport Fees 4 FNB?, USMC Drone Pilot

Airborne 04.19.24: Boom Supersonic, Aviation Alliance, BRM Electric

Airborne Affordable Flyers 04.18.24: Carbon Cub UL, Fisher, Affordable Flyer Expo

See All

Advertisement

Podcasts

Advertisement

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