Manufacturing Industry
United Airlines delays filing of reorganisation plan
Airline Industry Information, August 3, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
United Airlines said on Tuesday (2 August) that it would delay the filing of its reorganisation plan by about one month.
The airline had been expected to submit the reorganisation plan at the start of August, but it said that the company's committee of unsecured creditors had requested additional time to review the details of the plan.
The filing initiates the company's emergence from Chapter 11 bankruptcy protection and the one-month delay could mean that it does not exit bankruptcy until early next year.
However a United Airlines spokesperson said that a benefit of the extra time would be "a smoother exit process".
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