Manufacturing Industry
United Airlines to announce details of restructuring plan
Airline Industry Information, Jan 29, 2003
AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD
United Airlines is expected to present details of its restructuring plan to its unions and creditors this week.
The airline - which filed for Chapter 11 bankruptcy protection in December 2002 - has submitted a business plan to its lenders in exchange for USD1.5bn in financing to help the carrier operate through bankruptcy. Few details have been disclosed.
The plan is however expected to include details on the launch of a new low-cost carrier, reported Reuters.
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