United Sees Delay In Bankruptcy Emergence

[TravelDude]

United Airlines' bankruptcy attorney, James Sprayregen, told a bankruptcy court judge that the carrier's planned exit from bankruptcy protection in the first half of 2004 could be delayed by issues it is still facing. United must come to an agreement with Regional carrier Atlantic Coast Airlines, which operates as a United Express partner. Sprayregen said UA has sent several new offers to ACA that all have been rejected, Reuters reported. In addition, the carrier must resolve complex aircraft lease negotiations, municipal bond litigation, various claims against it and underfunded pension liability before it can exit, the report said. These obstacles "could offset the timing" of UAL's planned exit next year, Reuters quoted Sprayregen as saying.

 

[usramperTPA]

oh oh, Chip is probably already circling and getting ready to swoop down on this one!!!! sorry Chipper, just couldn't resist!