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2 Rumors About UA And Ch. 11

Sat May 08, 2004 10:58 am

I was speaking with a UA pilot yesterday about weird rumors floating around our system and he had two I hadn't heard before:

1) Exit from Chapter 11 will happen in a matter of weeks rather then months. He said to expect a suprise "early" exit instead of a mid to late summer exit.

2) Part of our exit financing will include a portion from Sony.

Thoughts anyone?

I think the first one might happen, but the second sounds like someone got their "wires crossed" about our partnership with Sony Music and thier new online music site. Perhaps a partnership with Sony means robot Flight Attendants and better PTV systems!  Big grin

The debate continues... Starwood or Hyatt... which is better
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RE: 2 Rumors About UA And Ch. 11

Sat May 08, 2004 11:14 am

I could see the first one happening. Tilton said in a recent employee phone message that once the ATSB loan is approved, UAL is essentially free to exit chapter 11.

I'm not sure how that sets with the airliners.net (LCC are the godsend of aviation, network carriers should DIE) crowd, but that's the reality in Elk Grove.
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RE: 2 Rumors About UA And Ch. 11

Sat May 08, 2004 11:16 am

This sounds very interesting. Maybe this is the first step to "auto-pilots" taken seriously.  Big grin
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RE: 2 Rumors About UA And Ch. 11

Sat May 08, 2004 1:11 pm

Pilots are always a great souce of rumors.....than again, most employees have heard at least one good rumor...
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RE: 2 Rumors About UA And Ch. 11

Sat May 08, 2004 1:15 pm

I heard UAL is doing much better? Rumor or not I heard it from pilots,F/A's and rampies!!! But those who don the blue of UNITED are in denial.

Alpha 1
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RE: 2 Rumors About UA And Ch. 11

Sat May 08, 2004 1:23 pm

The exit won't happen, I believe, until Uncle Sam indicates what is the status of that $1.6 billion UA wants in loan guarantees. I still think UA doesn't have a clue what to do if they dont' get those guarantees.

Interesting speculation, though. I wouldn't bet the farm on it, quite yet.
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RE: 2 Rumors About UA And Ch. 11

Sat May 08, 2004 1:37 pm

Rumor #1 seems odd. If they are planning an earlier exit from bk, why did they ask the bk judge for an extension "beyond June 30" to file their exclusive reorganization plan?

The judge only allowed them until June 30, although they can apply for another extension:

Rumor #2 seems even odder. I understood that they had the non-ATSB part of the exit financing already lined up - and it didn't include Sony.


aeternum nauta

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