(Reuters) — United Airlines sought bankruptcy court approval on Friday to hire an independent firm specializing in corporate restructuring to analyze its business plan.
In return the International Association of Machinists has agreed to drop its motion asking the court in Chicago to appoint a trustee to oversee the No. 2 domestic airline’s management of its Chapter 11 case.
United, which wants to hire Bridge Associates LLC, said that its other stakeholders agree an outside evaluation of its plan would be a productive step.
The company expects the review to take a month.
I think this is definately a step in the right direction. This might be the most logical action UA has taken during this prolonged bankruptcy to date. It also prevents a union trustee from running UA into the ground like some other airlines.