United Plans to Leave Chapter 11 in February
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From Associated Press
United Airlines intends to emerge from bankruptcy protection in February as a much more financially sound carrier than the one that has been restructuring under court protection since 2002, parent UAL Corp. said in filing its long-delayed reorganization plan.
The airline faces months of hearings at which investor groups are expected to jockey for higher portions of its limited assets.
Chief Executive Glenn Tilton said “the countdown has begun” toward a Feb. 1 exit from Chapter 11 proceedings.
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