UAL Bankruptcy Extension times 3

[MadDog74]

I know that this post will unltimately upset many individuals. Today, the judges's decision to allow United it's third attempt to reorganize under chapter 11 is ridiculous and completely unfair. Believe me...the last thing I want is for any more of our fellow pilots to lose their jobs(by the way I have been furloughed 4 times now) but this decision brings harm to the rest of the industry. I think it's unfair because this allows United to continue to trash the fares while enjoying the benefits that the Bankruptcy Court allows.

As much as it stinks to see anyone possibly "not make it," I would rather see one company not make it then allowing it to completely hold back the rest of the industry. As k your self this: would Spirit, Midwest and other smaller carriers be given one chance let alone three chances to get out of bankruptcy??

You tell me

 

[Wiskey Driver]

As much as it stinks to see anyone possibly "not make it," I would rather see one company not make it then allowing it to completely hold back the rest of the industry. As k your self this: would Spirit, Midwest and other smaller carriers be given one chance let alone three chances to get out of bankruptcy??
You tell me

No reason to be confused, what you are learning here is the political power that large corperations have!!!

WD.

 

[Dizel8]

Well, TWA had three times Ch.11.

UAL has merely asked for an extension to emergence, hopefully they will have the plan together as oposed to USAIR, who still seems to be floundering due to management.

 

[AAPilot]

Well, TWA had three times Ch.11.

UAL has merely asked for an extension to emergence, hopefully they will have the plan together as oposed to USAIR, who still seems to be floundering due to management.

Dizel. Who is the Hotty gal you have on your profile?

 

[tranceport]

I know that this post will unltimately upset many individuals. Today, the judges's decision to allow United it's third attempt to reorganize under chapter 11 is ridiculous and completely unfair.

not true. (yet) The judge has allowed a 30 day extension for them to submit the details of an additional extension. He did not allow a '....third attempt to reorganize..'. They stated they don't have a plan (b.s.) together yet (stalling).

... this decision brings harm to the rest of the industry. I think it's unfair because this allows United to continue to trash the fares while enjoying the benefits that the Bankruptcy Court allows.

with all due respect, they can't trash fares like other LCC's b/c they aren't making money yet. Their lowest fare can't touch many of the 'lowest' fares out there in many markets compared to others. I agree with your point....their cost structure, even in bankruptcy, is not doing too well and I think the judgie wudgy will see that.....if not, it won't take many quarters to determine if the 'latest plan' is worth anything.

.... I would rather see one company not make it then allowing it to completely hold back the rest of the industry. As k your self this: would Spirit, Midwest and other smaller carriers be given one chance let alone three chances to get out of bankruptcy??

You tell me

ok, i'll bite: maybe. The amount of money UAL is spending on legal and accounting fees to cook the books at this point would make a spirit bankruptcy look like a picnic.

good luck to us all.....it's a petri dish out there!

 

[skykid]

Maddog74, the extension you are writing about is for the exclusivity period for the emergence plan. After this period, the creditors may submit their own plan(s) to the court. These extensions have almost nothing to do with when UAL comes out of bankruptcy. UAL mgt said in Dec 2002 that 18 months would be the target to come out. To say UAL is getting a third attempt to reorganize is not even in the ballpark of being correct. Could you please post which fares are being trashed? Is it the new service from Tokyo to Honolulu or San Fran to China?

 

[Trojan]

As skykid said, there is a BIG difference between three extensions of the exclusivity clause versus three attempts at reorganization. Once that is understood, the thread can continue...

The judge isn't letting UAL drive their prices so low as to hurt competition. Bankruptcy judges (who must approve just about everything the company does) frown on anti-competitive actions by companies under their control. Any examples of who UAL is driving out of business?

Just continuing the thread...

T

 

[Extra300S]

Skykid and Trojan,

Thanks for attempting to 'splain it in plain english so some of our fellow pilots who wish ILL will upon us get a friggin clue.


As far as UAL hurting the LCC's...hmmm that might be a stretch.

 

[AA717driver]

I wish ill on everyone but me. Whad'ya expect? I'm an airline pilot. TC