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United stalled in bankruptcy move
Saturday, 03 Aug, 2005
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Attempts by United Airlines to emerge from bankruptcy have been delayed after creditors said they want more time to scrutinise the carrier’s reorganisation plan.
The airline originally hoped to exit Chapter 11 this autumn but that is not expected to happen now until late this year, or even early 2006.
A United Airlines spokesman, quoted in the Financial Times, said spending time now ironing out details could avoid a potentially prolonged dispute later.
“We knew we had an aggressive schedule and the creditors asked for more time,” the spokesman is quoted as saying.
Report by Steve Jones
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