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March 18, 2004
UAL bankruptcy - Will it ever end?
This NY Times article and this WSJ ($) article report on the postponement of confirmation and consummation of United Airlines' reorganization plan in its long pending chapter 11 case. UAL has been operating under chapter 11 since December, 2002, and it's exit financing and debtor-in-possession financing commitments expire on June 30. Although UAL is probably too big for its institutional creditors simply to give up on it, this is clearly a business that is in trouble, and no sure bet to make it even after emerging from chapter 11.
A related NY Times story reports on the daunting problems confronting UAL competitor, American Airlines.
Posted by Tom at March 18, 2004 7:56 AM |
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