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UA Emails Customers About Possible Bankruptcy  
User currently offlineBobcat From United States of America, joined Jun 2007, 0 posts, RR: 0
Posted (11 years 11 months 2 weeks 4 days 23 hours ago) and read 1072 times:

Just received this email from UAL... It sounds depressingly similar to
another email that I received from US Airways last month...  Sad


______________________________________________


Dear Mr. ******,

United Airlines has been in the news lately as we, and the
rest of the airline industry, grapple with how to respond to
the dramatic changes in our business environment as a result
of the economic slowdown. Because of your continued loyalty,
I wanted to share important steps our company is taking to
ensure that United continues to meet your needs in the years
to come.

Our efforts in the past 11 months have been focused on
bringing our costs in line with reduced revenues. While we
have made considerable progress, this week we announced we
are changing the company's business plan to build a stronger
and more competitive company. With the improvements, our
goal is to ensure we get the significantly broader, deeper
and longer-term cost savings we need to compete given the
new realities of the aviation industry.

Over the next 30 days we are intensifying our cost-cutting
efforts and presenting new proposals to our suppliers, union
leadership and employees. In the event we are unable to
reach agreement with our stakeholders on necessary cost
reductions, we are simultaneously preparing for the
potential of a Chapter 11 bankruptcy filing this fall. While
no decision has yet been made, we would consider
reorganization under Chapter 11 to ensure continued normal
business operations while we restructure our company.

Regardless of how we implement our cost reductions, you
should be confident that we will CONTINUE TO FLY A SAFE AND
RELIABLE AIRLINE, and you will continue to reap the benefits
of Mileage Plus(R) membership. WE WILL HONOR MILES PREVIOUSLY
EARNED IN MILEAGE PLUS, AND YOU WILL CONTINUE TO ACCRUE
MILES FOR TRAVEL ON UNITED AND OUR MILEAGE PLUS PARTNERS.

We are committed to building a stronger and more competitive
company that meets your needs today and for years to come.
We will keep you informed of our progress going forward. In
the meantime, on behalf of the 84,000 employees of United,
thank you for your continued loyalty and support.

Sincerely,

Chris Bowers
Senior Vice President
Marketing and Sales


5 replies: All unread, jump to last
 
User currently offlineAamd11 From UK - Wales, joined Nov 2001, 1059 posts, RR: 1
Reply 1, posted (11 years 11 months 2 weeks 4 days 23 hours ago) and read 1055 times:

Hmmm...
you think then, based on the fact US Airways sent you the same sort of email 1 month ago, that UA will go into Chapter 11??
I wouldnt doubt it, thats the same thing we heard before, preparing for Chapter 11, just incase concessions cannot be made.

We shall see how it all unfolds over the coming week, fall isnt that far away now, and 30days will soon fly.

My money is on a Chapter 11 filing, and if that is the case, they will more than likely emerge from it.

Regards,
A^A MD-11


User currently offlineEA CO AS From United States of America, joined Nov 2001, 13516 posts, RR: 62
Reply 2, posted (11 years 11 months 2 weeks 4 days 23 hours ago) and read 1048 times:
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Don't they have something like an $800 million payment due next quarter? That's the killer lurking in the wings, from what I've heard.


"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
User currently offlineDonder10 From Canada, joined Oct 2001, 6659 posts, RR: 22
Reply 3, posted (11 years 11 months 2 weeks 4 days 23 hours ago) and read 1032 times:

$800M for what?


User currently offlineAamd11 From UK - Wales, joined Nov 2001, 1059 posts, RR: 1
Reply 4, posted (11 years 11 months 2 weeks 4 days 23 hours ago) and read 1030 times:

I'd guess thats why they have said 30days!
prepare for C11 just incase concessions are not made, and if they are not made, then go into C11 as soon as you can to avoid that killer payment!

Would make sense dont you think?
$800m is a hell of a lot of money to shell out in any case, let alone for a company in a state as Uniteds.

A^A MD-11


User currently offlineBigo747 From , joined Dec 1969, posts, RR:
Reply 5, posted (11 years 11 months 2 weeks 4 days 21 hours ago) and read 973 times:

At least they're honest about their financial statement. It's good to see they're not the 2nd Worldcom or Enron.

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