<a href="http://pacific.bcentral.com/pacific/stories/2002/02/04/daily9.html" target="_blank">UAL "Bankruptcy Possible"</a>
Pacific Business News says...
United Airlines bankruptcy possible. .The chief financial officer of United Airlines refuses to rule bankruptcy for the airline as it seeks to recover from the post-Sept. 11 travel slump.
In a conference call to talk about United's newest quarterly loss report, Jack Brace seemed to leave open the possibility of filing for protection from creditors under Chapter 11 of federal bankruptcy laws. So reporters sought to pin him down by offering him the opportunity to explicitly rule out such a filing.
Brace pointedly did not do so, but instead said, more than once, that United was working on an overall plan for financial recovery.
United executives have said that any recovery plan will have to include significant contract concessions by the airline's unions. United pilots have already replied that anything they concede will have to be in return for significant changes in the way United is run. Pilots own 25 percent of United stock and have their own seat on the United board.
United has more flights between Hawaii and the U.S. mainland than any other airline and plans in the spring to restore its fourth daily flights here from both Los Angeles and San Francisco.