Manufacturing Industry
United Airlines given more time to submit reorganisation plan
Airline Industry Information, Jan 24, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
United Airlines' parent company, UAL Corp, has received court approval for an extension to the period in which it must file its bankruptcy reorganisation plan.
The company now has an extra three-month period of exclusivity to file its plan. This means that other parties must wait until at least 30 April before they are permitted to submit rival reorganisation plans.
In related news United Airlines' CEO Glenn Tilton has told the Chicago Tribune that he expects the airline to emerge from bankruptcy in autumn 2005. The company has been in bankruptcy since December 2002.
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