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United unions look to replace Tilton-Business Week=20
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Reuters <http://money.excite.com/img/logo_reuters.gif> =09
Thursday February 20, 7:37 PM EST=20
CHICAGO, Feb 20 (Reuters) - Leaders of the pilots and machinists unions
at United Airlines have been talking to potential investors in an
attempt to get a bankruptcy judge to replace Chief Executive Glenn
Tilton, Business Week reported in its latest edition released on
Thursday.
According to the article, Tom Buffenbarger, president of the
International Association of Machinists, and Paul Whiteford, head of the
Air Line Pilots Association, have been talking to former United CEO
Gerald Greenwald, as well as David Bonderman and his Texas Pacific
Group, George Soros, Marvin Davis, the Blackstone Group, and several
state pension funds.
Union officials and potential investors told Business Week the unions'
goal was to find a partner and go jointly to U.S. Bankruptcy Judge
Eugene Wedoff in the next few weeks with a competing recovery plan for
the airline.
Spokespeople for the IAM, ALPA and United Airlines all declined to
comment on the Business Week article.
Elk Grove Village, Illinois-based United, the No. 2 U.S. airline and a
unit of UAL Corp. (UAL
<http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DUA=
L>
), filed the largest bankruptcy in aviation history in December. The
pilots and machinists both have seats on the company's board of
directors. (Chicago Equities Desk, edited by Michael Miller; (312)
408-8787, chicago.newsroom@reuters.com))=20
=A92003 Reuters Limited.=20
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