This article from NYTimes.com has been sent to you by psa188@xxxxxxxxx /-------------------- advertisement -----------------------\ Explore more of Starbucks at Starbucks.com. http://www.starbucks.com/default.asp?ci=1015 \----------------------------------------------------------/ United Plans Emergence From Bankruptcy June 20, 2003 By THE ASSOCIATED PRESS Filed at 2:37 p.m. ET CHICAGO (AP) -- United Airlines intends to emerge from bankruptcy sometime between October and March, executives said Friday. Officials of the world's second-largest carrier reiterated in bankruptcy court that they're targeting the fourth quarter of this year or the first quarter of 2004 to exit Chapter 11. But despite the recent recovery in revenue, they noted they still face significant challenges in order to return to profitability. Citing better progress than expected, United executives first talked publicly last month about coming out of bankruptcy earlier than the original 18-month target, still a year off. ``There are lot of things we need to do to get out,'' chief financial officer Jake Brace told reporters after a hearing in U.S. Bankruptcy Court. ``One of those things is exit financing.'' United, which is completing work on a business plan that will underpin the reorganization plan it has to file by Oct. 6, also intends to reapply for a federal loan guarantee from the Air Transportation Stabilization Board. The Elk Grove Village, Ill.-based carrier made the largest bankruptcy filing in aviation history on Dec. 9, just five days after its request for $1.8 billion in government loan guarantees was rejected because of an unsound business plan. Brace said United's overseas bookings have improved sharply from a month ago, when air travel had dropped off significantly because of the SARS virus and the war in Iraq. ------ On the Net: www.united.com http://www.nytimes.com/aponline/business/AP-United-Airlines.html?ex=1057143240&ei=1&en=3fe043feddb54b19 --------------------------------- Get Home Delivery of The New York Times Newspaper. Imagine reading The New York Times any time & anywhere you like! Leisurely catch up on events & expand your horizons. Enjoy now for 50% off Home Delivery! Click here: http://www.nytimes.com/ads/nytcirc/index.html HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2003 The New York Times Company