Just read on USA Today and MSNBC that though the amount is yet to be confirmed, UAL Corp. has resubmitted a revised application for just over $1B, a decrease of $500mm.
It is believed that UAL is now willing, unlike before, to seek an outside equity partner in its quest to reemerge from Ch. 11 protection.
This signifies a major shift in UA's plan, and I believe (hope) that the ATSB will consider this dramatic shift as positive, and grant UAL the loan guarantee. To reiterate, the ATSB is NOT writing UAL a check. They are simply acting as a co-signer on exit financing provided by JP Morgan and Citigroup.
Fortunately, as I theorized in other threads, UAL has not mentioned a word about its pensions, and has not signaled any intention to file a distress termination of its current plan. To do so would competely destroy any level of morale the employees have.
[Edited 2004-06-23 05:47:27]