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UA Ordered To Repay DEN Bonds, Not JFK,LAX,SFO  
User currently offlineAlphascan From United States of America, joined Nov 2003, 937 posts, RR: 13
Posted (10 years 5 months 3 weeks 1 day 10 hours ago) and read 3528 times:

CHICAGO/NEW YORK, March 30 (Reuters) - The U.S. judge overseeing UAL's bankruptcy case on Tuesday upheld Denver International Airport's claims that the airline must repay as much as $261 million of municipal bond debt.

But U.S. Judge Eugene Wedoff for the Northern District of Illinois Eastern Division rejected bondholder claims made by John F. Kennedy International Airport, and California's airports in San Francisco and Los Angeles.

JFK had about $34 million of bonds outstanding that could be affected by the decision, according to Fitch Ratings Analyst Peter Stettler. San Francisco had nearly $155 million, while Los Angeles had a total of about $59 million.

Copyright 2004, Reuters News Service



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2 replies: All unread, jump to last
 
User currently offlineAAJAXFlyer From , joined Dec 1969, posts, RR:
Reply 1, posted (10 years 5 months 3 weeks 1 day 10 hours ago) and read 3517 times:

On the lines of cities going after United.... I know numerous airports are growing frustrated at landing fees and rent owed. Omaha for one has continually rejected United's payment proposals. They may have reached a solution in the last few weeks, but numerous airports are unhappy.

User currently offlineWorldtraveler From , joined Dec 1969, posts, RR:
Reply 2, posted (10 years 5 months 3 weeks 17 hours ago) and read 3308 times:

UA might find that NY and CA governments might not be quite as interested in supporting UAL's reorganization efforts now that they've been stuck w/ a couple billion dollars in bad debt.

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