United Changes Date of Bankruptcy Exit…Again
Sep 7th, 2005 | By Jared BlankRemeber when United said that it would emerge from bankruptcy this fall? Well, not quite. The carrier now says that it expects to leave bankruptcy protection in January 2006. I’m hardly a bankruptcy attorney, but I’m not quite sure that allowing companies to carry on for more than 3 years under the bankruptcy laws was exactly what those laws are intended to do. The airline has cut $7 billion from its spending since entering chapter 11 in 1837 (or maybe it was 2001).