Will UA and U merge in CH11?

[767jetz]

DCAflyer,

Here's another article for you from today. As I said, maybe you should get your facts straight before you accuse others of spewing garbage from their various 'orifaces.'


"CHICAGO (Reuters) - Arrangements for $1.5 billion in special financing that United Airlines needs to operate in bankruptcy were finalized early Sunday evening, preparing the way for an expected imminent court filing, according to sources familiar with the matter.

United is the second largest U.S. airline and a unit of UAL Corp. (UAL.N).

The expected Chapter 11 filing by Elk Grove Village, Illinois-based United will be the largest such bankruptcy by any airline. United is struggling with high costs, massive debt and poor revenue from cheap airline tickets.

Sources familiar with the matter told Reuters the final group of lenders for the debtor-in-possession financing are J.P. Morgan Chase (JPM.N), Citibank (C.N), Bank One (ONE.N) and CIT Group (CIT.N). CIT was a late entry to the pool, replacing GE (GE.N) Capital.

GE was said to have wanted greater protection on their aircraft exposure to United, but the airline was able to line up the $1.5 billion without giving into such pressure.

Bank One, based in Chicago, has heavy exposure to United because it issues the airline's Mileage Plus frequent flyer credit card. The bank will be underwriting a $300 million loan and then it, and the other three, will split the rest of the $1.2 billion equally, sources said. That will give Bank One the heaviest exposure at a total $600 million."

12/08/2002 18:17

 

[delldude]

you ALL should wake up and smell the roses.....anyone figure out that YOUR company and MY company are represented by the same unions?[BR]so everything that we've had the delight to give away with the tacit nod of our unions is the playbook for your game.management got it from these unions at U and YOUR management sure as hell knows[BR]how to play on YOUR unions.so expect a very similar scenario.secondly,you have to deal with some of the same creditors who were just tickled pink over the prospect of losing huge sums of their debt from us in BK court.you've obviously have a lot more leases,contracts and debt than us due to your size.expect creditors to be getting really tough to deal with especially if it looks like theres going to be more carriers going belly up.i hate to see what is going on here at U play out elsewhere but it looks to me as if you may be in BK for close to 2 years.2 years of job cuts,down sizing,mental anguish,etc.[BR]and still above all else you got the problem of less people flying now and through your BK.you know like we are seeing declining revenue while in DIP.you may well see similar cash burn problems.[BR]HOPE YOU ALL DO WELL!

 

[delldude]

you ALL should wake up and smell the roses.....anyone figure out that YOUR company and MY company are represented by the same unions?[BR]so everything that we've had the delight to give away with the tacit nod of our unions is the playbook for your game.management got it from these unions at U and YOUR management sure as hell knows[BR]how to play on YOUR unions.so expect a very similar scenario.secondly,you have to deal with some of the same creditors who were just tickled pink over the prospect of losing huge sums of their debt from us in BK court.you've obviously have a lot more leases,contracts and debt than us due to your size.expect creditors to be getting really tough to deal with especially if it looks like theres going to be more carriers going belly up.i hate to see what is going on here at U play out elsewhere but it looks to me as if you may be in BK for close to 2 years.2 years of job cuts,down sizing,mental anguish,etc.[BR]and still above all else you got the problem of less people flying now and through your BK.you know like we are seeing declining revenue while in DIP.you may well see similar cash burn problems.[BR]HOPE YOU ALL DO WELL!

 

[UAL_TECH]

DELLDUDE,

That is why I prefer to 'Double Down'.
Go for the whole enchilada or none.
I have been watching the crap that you are going through and don't see the ROI for it. Good luck to everyone at USAir and UAL. We are sorely going to need it!!!

http://www.usaviation.com/idealbb/view.asp...3-F7224FDF9817}

Wishing You and Yours this Christmas Season the BEST!!!

 

[UAL_TECH]

DELLDUDE,

That is why I prefer to 'Double Down'.
Go for the whole enchilada or none.
I have been watching the crap that you are going through and don't see the ROI for it. Good luck to everyone at USAir and UAL. We are sorely going to need it!!!

http://www.usaviation.com/idealbb/view.asp...3-F7224FDF9817}

Wishing You and Yours this Christmas Season the BEST!!!

 

[ForkTime2002]

[P]
[BLOCKQUOTE][BR]----------------[BR]On 12/7/2002 549 PM DCAflyer wrote:
[P][BR][BR]DCAflyer says:[BR][BR]I hate to break it to you, Winglet, but U is a hell of a lot more likely to make it successfully out of C-11 than is UAL.[BR][STRONG][FONT face="Times New Roman"]UAL hasnt actually filed yet and in case youve missed it, boner says hell liquidate U if he doesnt get what he wants.[/FONT][/STRONG][BR][BR][BR] Our ducks are in a row[BR][STRONG][FONT face="Times New Roman"]yeah and everyone is pointing shotguns at em![/FONT][/STRONG][BR][STRONG][FONT face="Times New Roman"]you must be dyslexic to think that.only alpa has cozied up in daves lap to create yet another regional airline at the group.just what we need.[/FONT][/STRONG][BR][BR]despite the current chess game being played in Arlington right now.[BR][STRONG][FONT face="Times New Roman"]chess? more like russian roulette.[/FONT][/STRONG][BR][BR] We will get through the bankruptcy and have a billion dollar golden egg to show for it.[BR][STRONG][FONT face="Times New Roman"]whats this we ****? we will have eagle rates ,no pensions and a hell of a lot fewer jobs.[/FONT][/STRONG][BR][BR] UAL, on the other hand, as far as we can tell, has yet to obtain a DIP financing commitment[BR][STRONG][FONT face="Times New Roman"]whos we? you and chip? [img src='http://www.usaviation.com/idealbb/images/smilies/2.gif'][/FONT][/STRONG][BR][BR][BR] C-11 will take, at a minimum, almost a year to be resolved, and that is after ESOP is gutted and union contracts are abrogated. The ATSB guarantee may not be available to UAL after such a long time (and continued heavy lobbying from DAL, Crapinental, and that other AAirline).[BR][STRONG][FONT face="Times New Roman"]my my my..touchy arent we? time of the month?[/FONT][/STRONG][BR][BR]My bet is that The Pacific Group will emerge the DIP frontrunner for UAL[BR][STRONG][FONT face="Times New Roman"]Bzzzzzzzzzzt, wrong answer.[/FONT][/STRONG][BR] [BR][BR]But without a doubt, USAirnited will emerge with far superior cost, revenue, alliance, and route structures than any other North American airline.[BR][STRONG][FONT face="Times New Roman"]you and chip need to go back to the drawing board.i will say you and chip do make for some entertaining reading.[/FONT][/STRONG][BR][BR]DCAflyer[/P]----------------[/BLOCKQUOTE]
[P][/P]

 

[ForkTime2002]

[P]
[BLOCKQUOTE][BR]----------------[BR]On 12/7/2002 549 PM DCAflyer wrote:
[P][BR][BR]DCAflyer says:[BR][BR]I hate to break it to you, Winglet, but U is a hell of a lot more likely to make it successfully out of C-11 than is UAL.[BR][STRONG][FONT face="Times New Roman"]UAL hasnt actually filed yet and in case youve missed it, boner says hell liquidate U if he doesnt get what he wants.[/FONT][/STRONG][BR][BR][BR] Our ducks are in a row[BR][STRONG][FONT face="Times New Roman"]yeah and everyone is pointing shotguns at em![/FONT][/STRONG][BR][STRONG][FONT face="Times New Roman"]you must be dyslexic to think that.only alpa has cozied up in daves lap to create yet another regional airline at the group.just what we need.[/FONT][/STRONG][BR][BR]despite the current chess game being played in Arlington right now.[BR][STRONG][FONT face="Times New Roman"]chess? more like russian roulette.[/FONT][/STRONG][BR][BR] We will get through the bankruptcy and have a billion dollar golden egg to show for it.[BR][STRONG][FONT face="Times New Roman"]whats this we ****? we will have eagle rates ,no pensions and a hell of a lot fewer jobs.[/FONT][/STRONG][BR][BR] UAL, on the other hand, as far as we can tell, has yet to obtain a DIP financing commitment[BR][STRONG][FONT face="Times New Roman"]whos we? you and chip? [img src='http://www.usaviation.com/idealbb/images/smilies/2.gif'][/FONT][/STRONG][BR][BR][BR] C-11 will take, at a minimum, almost a year to be resolved, and that is after ESOP is gutted and union contracts are abrogated. The ATSB guarantee may not be available to UAL after such a long time (and continued heavy lobbying from DAL, Crapinental, and that other AAirline).[BR][STRONG][FONT face="Times New Roman"]my my my..touchy arent we? time of the month?[/FONT][/STRONG][BR][BR]My bet is that The Pacific Group will emerge the DIP frontrunner for UAL[BR][STRONG][FONT face="Times New Roman"]Bzzzzzzzzzzt, wrong answer.[/FONT][/STRONG][BR] [BR][BR]But without a doubt, USAirnited will emerge with far superior cost, revenue, alliance, and route structures than any other North American airline.[BR][STRONG][FONT face="Times New Roman"]you and chip need to go back to the drawing board.i will say you and chip do make for some entertaining reading.[/FONT][/STRONG][BR][BR]DCAflyer[/P]----------------[/BLOCKQUOTE]
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