Re: United wants more time to file restructuring plan

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In a message dated 3/11/03 12:32:11 PM US Mountain Standard Time,
lafrance@xxxxxxxxxxx writes:


> In court documents filed on Monday, the No. 2 U.S. airline said it is
> seeking an additional 180 days from April 8 to file its plan. That would
> give the carrier until Oct. 6 to file, after which competing plans from
> creditors could be filed.

Plan, what plan?  Hopefully the creditors will persuade the BK judge to put
UAL on a shorter leash that what Tilton has in mind.

Here's how to do it:

>
> US Airways Group (UAWGQ), which filed for bankruptcy in August and
> submitted its reorganization plan to the court in December, has sought and
> won several extensions on its restructuring plan deadline. Its plan has yet
> to be approved by creditors.
>

These guys have already terminated leases, reduced payments and salaries, and
loosened the pension noose around their neck.  They mean business.

RT Simpson
Phoenix

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