Union says United will file Chapter 11

[JW]

Union says United will file Chapter 11

CHICAGO, Illinois (CNN) -- The International Association of Machinists has warned its members at United Airlines that a bankruptcy filing "appears unavoidable and imminent."

-jw

[dbaker]

I would be surprised if we didn't hear something before Monday night.

[tycoonjack]

United Airlines Bankruptcy Expected Monday

United Airlines, the world's second-largest airline, early Sunday evening finished up arrangements for $1.5 billion in financing needed to keep flying in bankruptcy, paving the way for a court filing expected Monday, people familiar with the situation said.

The bankruptcy would represent the largest ever in the airline industry, which remains mired in a historic money-losing downturn after the Sept. 11, 2001, attacks.

Good job calling it dbaker

[dbaker]

United Airlines Files for Chapter 11

CHICAGO (Reuters) - United Airlines filed for bankruptcy on Monday, becoming the biggest air carrier ever to seek court protection, after a weak economy, high costs and low air fares left the world's No. 2 airline with too much debt and not enough cash.