UAL selling assets

[skykid]

sstearns2 - you are correct. the 767-200s were on the chopping block way before Ch11 and have been decertified for ETOPS in prep for this for a long time. Still not good to see aircraft leave the fleet, but no surprise. UAL sold 22 737-200s and around 50 727s right after 9-11. A handful of 747s have been sold, and UAL is paying big bucks to reject leases. I think it sucks, but this was bound to happen and it sure aint news. Ultimately it will be block hours that determine the amount of pilots kept and this will be driven by the amount of aircraft rejected in the 1110 process.

 

[Boz]

The 767-200 were always scheduled to be gone as the new EGPWS would require a great deal of funding that we simply can't afford. Nothing new here.

 

[G4G5]

Hey Skirt,

Felling a little better about you decision? You are looking very wise today. Good luck.

 

[beech1900kid]

ual selling more stuff

from yahoo airline news.....




Reuters
United seeks to sell stakes in Orbitz, Hotwire
Wednesday October 15, 5:13 pm ET


CHICAGO, Oct 15 (Reuters) - The parent of bankrupt United Airlines is seeking court permission to sell part of its stakes in online travel companies Orbitz and Hotwire, the company said in court documents.
ADVERTISEMENT


UAL Corp. (OTC BB:UALAQ.OB - News), parent of the No. 2 U.S. airline that has been operating in bankruptcy since last December, said the sale of part of its 26-percent stake in Orbitz would raise $26 million to $52 million. Orbitz, which was founded by five major U.S. airlines, has plans to go public in November or December.

The airline said it expects proceeds of $85 million from the sale of its 16.5 million Hotwire shares to media mogul Barry Diller's InterActiveCorp (NasdaqNM:IACI - News). IAC is acquiring Hotwire for $665 million.

United said it would put the proceeds from the two sales toward paying off its revolving credit line and term loan under its bankruptcy financing package. A United spokesman said the sales would help the carrier reorganize more quickly and efficiently.

A bankruptcy court judge is due to consider the issue at an Oct. 24 court hearing.

UAL said it does not expect its ownership interest in Orbitz to drop below 17 percent, leaving its remaining stake worth between $176 million and $258 million.

Orbitz and Hotwire allow travelers to purchase airline tickets and make reservations for hotels and rental cars on their Web sites.