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Just another flailing airline.
United airlines bankruptcies 2002. Bankruptcy code and the federal rules of bankruptcy procedure are complex affording companies different means of addressing their financial plights. Chicago united airlines embarked wednesday on what it called a new beginning soaring free of bankruptcy for the first time since 2002 but no longer able to turn to a court for assistance as it. Mon 9 dec 2002 1149 est 1149 est united airlines filed for federal bankruptcy court protection today reeling from two years of heavy losses and unable to pay off nearly 1bn in debt that comes.
These three unions and the pilots union agreed to concession packages after uniteds 2002 bankruptcy filing giving back a total of 25 billion a year to the company. Shares of united airlines parent sink 33 after machinists reject wage concessions. United hits turbulence of bankruptcy.
Many lay observers broadly equate bankruptcy with going out of business. Since 1982 there have been count em 18 airline bankruptcies. The economic structure of the airline industry may contribute to airline bankruptcies as well.
221 pm est by justin lahart cnnmoney staff writer. Afp via getty images. Airline will honor tickets mileage programs but moves to cut non union pay immediately.
Air carrier united airlines filed for bankruptcy protection monday a day after people familiar with the situation said the airline had obtained 15 billion in debtor financing which. Ual jetting towards bankruptcy. 822 pm est by chris isidore cnnmoney staff writer.
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