The parent of United Airlines Inc. finally left bankruptcy Wednesday, more than three years after filing in Illinois bankruptcy court. However, analysts warn that the carrier will face considerable turbulence charting a post-Chapter 11 course. While in bankruptcy, the company cut one-quarter of its workers, shed its pensions, trimmed more than $10 billion worth in debt and slashed annual costs by more than $7 billion.
February 02, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
United Airlines finally left bankruptcy Wednesday, a leaner and more cost-efficient carrier after a painful restructuring that began in 2002 and lasted a record 1,150 days.
The nation’s No. 2 airline announced it had filed its exit documents in U.S. Bankruptcy Court Wednesday afternoon, officially ending the longest and costliest bankruptcy of any airline
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