08-12-2002, 08:57 PM
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| Senior Member
Join Date: Sep 2001 Location: AUS
Posts: 690
| Bankruptcy fears heighten at United after US Airways filing
Bankruptcy fears heighten at United after US Airways filing; stock sinks Quote:
Concern about United Airlines' shaky financial state intensified Monday in the wake of US Airways' bankruptcy protection filing, sending shares in United's parent company plummeting again.
Investor jitters that United may be the next carrier forced into bankruptcy prompted UAL Corp. stock to fall 81 cents, or 15.6 percent, to dlrs 4.39 a share in midday trading on the New York Stock Exchange ( news - web sites) after falling as much as 28 percent.
Other major airline stocks also took a hit, but none was battered as much as UAL, which already had lost more than half its value since the start of July and traded at dlrs 35 a share a year ago.
CEO Jack Creighton, who pledged after taking the top job last year not to preside over a bankruptcy, and other United officials have declined to discuss the prospects of a Chapter 11 filing.
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