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Old 8th Oct 2007, 04:33
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Ignition Override
 
Join Date: Jul 2000
Location: Down south, USA.
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Lightbulb Airline frequent-flier programs were not included in US Bankruptcy Court?
Is it true that United Airlines and others, who were under Chapter 11 protection for a while, had already SOLD off their 'frequent flier' programs to financial entities such as 'CityBank'?

These might be worth about $2,000,000,000 US or more-but were not included in bankruptcy court proceedings, as should be required under US Federal law?

Is this news true or bogus?
Was it possible via a gigantic loophole?

If true, this could prove quite interesting due to grossly under-funded US airline pension funds .
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