Summary Box: United’s Bankruptcy
January 20, 2006
By The Associated Press
PLAN APPROVED: U.S. Bankruptcy Judge Eugene Wedoff has signed off on the reorganization plan of United Airlines, clearing it to end the longest and costliest airline bankruptcy ever after more than three years.
NEXT DESTINATION: United says it intends to come out of Chapter 11 “on or about” Feb. 1.
LOOMING CHALLENGE: While United’s planes have been nearly full lately and revenues strong, oil prices in the upper $60s per barrel will keep it in the red – its new business plan envisions prices falling to $50.