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Bankruptcy Judge Authorizes United to Sell Stake in Online Travel Site.
Knight Ridder/Tribune Business News, October, 2003
By Melissa Allison, Chicago Tribune Knight Ridder/Tribune Business News
Oct. 25--A federal judge Friday approved United Airlines' sale of its shares in online travel company Hotwire, but delayed a decision on whether the bankrupt company can sell a portion of its stake in another Web travel firm, Orbitz.
The airline also said it wants to reach a deal quickly with regional jet firm Mesa Air Group, which could ensure United Express does not lose service out of Washington Dulles International Airport.
The partial sale of Orbitz hit a snag when OurHouse Inc., a creditor to the United unit that owns 26 percent of Orbitz, objected to the sale, concerned that it would deplete the unit's assets.
U.S. Bankruptcy Judge Eugene Wedoff...
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