ITYT Travel Forums  

Go Back   ITYT Travel Forums > Travel Companies & Programs > Airlines & Frequent Flier Programs > United Airlines (UA)
Click Here to Login

Thread Tools Search this Thread
Old 11-29-2002, 11:28 PM   #1
Senior Member
Join Date: Sep 2001
Location: AUS
Posts: 132
United Air Bankruptcy Could Come in Weeks

CHICAGO (Reuters) - United Airlines is likely to file for bankruptcy within the next two weeks unless it can soon get a new wage-cut deal from reluctant mechanics and a crucial federal guarantee of a $1.8 billion loan, sources familiar with the matter said on Friday.

Mechanics at United, the No. 2 U.S. airline, on Wednesday rejected $700 million in proposed pay cuts over 5-1/2 years. The rejection sharply increased the odds of bankruptcy as a $375 million debt payment comes due on Monday.


The mechanics' rejection jeopardizes pay-cut agreements achieved by sister unions, including those for pilots and flight attendants. All the unions involved said the givebacks were contingent on every union taking part in the sacrifices.

BovineOne is offline   Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT -5. The time now is 09:58 AM.

Content Relevant URLs by vBSEO 3.6.0