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Joined: Mon Nov 24, 2003 12:04 am

UA Ordered To Repay DEN Bonds, Not JFK,LAX,SFO

Wed Mar 31, 2004 9:32 am

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

You win some, you lose some.

"To he who only has a hammer in his toolbelt, every problem looks like a nail."

RE: UA Ordered To Repay DEN Bonds, Not JFK,LAX,SFO

Wed Mar 31, 2004 9:35 am

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.
Posts: 3417
Joined: Tue Aug 05, 2003 6:18 am

RE: UA Ordered To Repay DEN Bonds, Not JFK,LAX,SFO

Thu Apr 01, 2004 2:34 am

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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