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Old December 5th, 2002, 03:54 PM
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Default United Airlines

Sitting here on the computer but also having the TV on, thought I heard United stock lost 2/3s value today???

Will they really go belly up and what happens to the flights etc? Anyone have a clue on this???

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  #2 (permalink)  
Old December 5th, 2002, 04:05 PM
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Default Re: United Airlines

The "experts" are saying that United will declare Chapter 11 bankruptcy, will continue to fly it's normal routes for now - but the bankruptcy will be handled by the federal court. United will probably come out of bakruptcy a smaller, leaner airline (one would hope!)

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Old December 5th, 2002, 05:08 PM
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Default Re: United Airlines

I never thought that an major Airline like United would have declare banqurecy.
Lets hope it works out okay for them.
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Old December 5th, 2002, 10:57 PM
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Default Re: Re: United Airlines

They'll almost certainly continue to fly for a while at least. Somebody has to fly those routes.

Unfortunately, United suffers from a Neanderthal management team and some of the greediest employee-owners in the history of industry--they're 55% employee owned, so the stock swoon has the biggest impact on them.

Do some in-depth reading about the situation if you want to see a company with a real death wish. Sadly, except for the employee ownership, they're not all that different from the rest of the majors, who failed to use the good times to create airlines for the 21st Century. Now it's too late for some of them.

United's inability (unwillingness?) to present a viable business plan (after taking three stabs at it) in order to secure further loans is truly mind-blowing.

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