PPRuNe Forums - View Single Post - UAL to file Chapter 11 this week.....
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Old 22nd January 2002 | 18:06
  #19 (permalink)  
GlueBall
 
Joined: Jun 2001
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Lightbulb

The true story is self evident: If business will not improve very soon, major surgery, including Chap 11, will be required. Because no company, no matter how big, can continue operations while burning $20+ Million per day. Unlike Gordon Bethune at Continental who slashed operations and employes (12,000) immediately after Sept 11; UAL management vacillated, took too long to cut back too little. And despite UAL's belated management shakeup, the company already has lost its momentum. Pumping $100+ Million into Avolar, the business jet division, has caused management to lose focus of its core business. <img src="frown.gif" border="0">
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