Dip Is Enough To Get Through Ch 11

[ualdriver]

http://www.marketwatch.com/news/newsfinder...6C0369E4527%7D&

"United Airlines (UALAQ) said Wednesday that it has enough debtor-in-possession financing to see it through its bankruptcy. "We believe that the existing DIP financing is adequate to provide for our projected future liquidity needs through our emergence from bankruptcy," the airline disclosed in a 10-K filing with the U.S. Securities and Exchange Commission....."

I'm very surprised UAL made a statement like this so far in advance of our possible fall exit from bankruptcy, especially with oil prices hitting an all time high today.

 

[FWAAA]

I agree - it is somewhat odd to read such an optimistic expression in a 10-K.

Maybe the thinking is something like this: "If it turns out we're wrong, we'll point to the continuing announcements that the stock was gonna be worthless in any event in case someone files a securities fraud lawsuit."

 

[Fly]

They have been saying it's going to be worthless for quite some time.

 

[Winglet]

More drivel from Tilton.

 

[avek00]

He also said United was supposed to emerge from bankruptcy 18 months after it filed. We're now on two years and counting, with the estimated departure time continually pushed back...

 

[casual rat]

Tilton says alot of things....weightless in nature, except for when he mentions 'cuts'.

 

[aafsc]

I think the ever rising price of fuel is going to eat that DIP money right up.

 

[North by Northwest]

along with our pensions, underwear...and shirt on our backs.