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UAL to file Chapter 11 this week.....

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UAL to file Chapter 11 this week.....

Old 2nd Feb 2002, 05:04
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UA announced 2001 financial results today. . .Loss of US$ 2.1 billion, the largest loss in aviation history. Analysts were somewhat heartened as they were expecting worse.
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Old 4th Feb 2002, 10:11
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Angry

That is equal to a loss of $40.04 per share.
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Old 4th Feb 2002, 14:19
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Which means the current market on this stock is over by 12 usd. or worth about a buck.

"Hello Pres. Bush.....you got about 5 billion we can borrow?"

Guess the American tax dollar will be bailing out yet another fat cat layden conglomeration.... <img src="mad.gif" border="0">
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Old 4th Feb 2002, 20:37
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<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.
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Old 4th Feb 2002, 22:24
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OOOOOOOOOHHHHHHH SNAP! SNAP!

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 5th Feb 2002, 07:15
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Tim Mellend,

So genius, do you have any other good rumors? I must have missed the Frontier and Alaska merger,. .did that occur? Maybe I have been asleep for the last couple weeks, when did UAL declare Chap 11? Hey, when will Brad Pitt and Jenifer Aniston break up? But seriously Tim, is it true that the. .Canadian Gov't will buy United and turn it into an all cargo carrier some time in late 2003?. .You and Lavdumper are REAL funny and obviously are. .twins.

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 6th Feb 2002, 02:24
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Donkey Duke,

It seems to me that you are one of those people that have trouble expressing yourself. If you dont have anything productive to add to the conversation then hush up! This bourd is for pilots not entertainers.

Just one farmboys opinion! <img src="wink.gif" border="0">
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Old 6th Feb 2002, 03:12
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Hey Farmie,

You hush up! Thanks gramps for all your wisdom.. .Hey, I was expressing myself and noting that good ole Tim Mellend likes to bring up rumors that are way off. He likes to get people excited and bothered without bringing known facts. Before getting people upset (like declaring UAL chap 11 before it happens) one should know the facts. Timmy struck out twice with the Frontier/Alaska. .merger and then the UAL chapp 11 rumor. Next thing you know he will state that all farm pilots are immediately grounded due to their lack of skills and sense of humor. (That was a joke---I am sure you can fly under power wires and do double inverted rats @ss's better than I can---?). .Most people come on this rumor board to share substantial info to enlighten others. Then winners like Tim come on to scare people.

So, Farmie, I hope this shows you that I can express myself just fine. My intention was to point out to Tim that he has been way way off TWICE. You take it easy and remember to wear those goggles when flying at 200ft----those nasty Alabama nats love to infest in people's eye ducts!. .Yahoo!

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 6th Feb 2002, 05:44
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Donkey Duck,

Okay you may be able to express yourself but the fact remains you are no better then any other poster on this board. The fact that Tim M. is a very confused individual doesn't give you the right to attack him. What makes you the expert on UAL or the Canadian Gov. for that matter? Are you a financial banker or a pilot? I am a licenced pilot and do know alot about the industry. Maybe I fly low and don't get payed a lot unlike some at UAL, CO, DAL, AA, etc.... You on the other hand seem to post as much rubish as the TIm M guy! Looks to me as if you DD need to do some homework and learn about this industry before you start attacking the knowledgable poster of this site.

Snapp Snapp Hiss Hiss-or whaterver you always say!

Just one farm boys opinion!
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Old 6th Feb 2002, 07:16
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Farmie,

First of all, the phrase is...."SNAP!!!!" Second,. .I bet I know 10 times more about the airline industry than you. Easily 10 times. (Ok, you beat me on crop dusting----you probably fly a Pawnee, right?) I have studied the airline industry with vigor for the last 15 years. I make it my business because I am in this business.. .I don't know your qualifications, but I bet the closest you get to an "airliner" is when you need to fly to Dothan, AL to get gas and see an ASA. .ATR-72 sitting there. But, there is no need to compare---you have your opinion and I have mine.. .But, you cannot compare me to Tim Mellend----I have not posted anything that wasn't backed up by facts. If I have a question, I ask it in the form of a question. Do you follow me Farmie?. .Do I need to slow down for you? Wut Wut? You're wrong!

Anyways.....I admit that I am sometimes a bit colorful in my responses. I'm sure you and Tim are nice guys---let's just get the facts strait so we don't cause unnecessary stress for the UAL guys/gals. Got it? Good.

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 6th Feb 2002, 08:27
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DONKEY DUKE- Not that I haven't done some flaming on this board myself, but I have never bragged on anybody. You obviously are of little management value nor do you appear to carry even the slightest amount of compassion for human beings that everybody in this industry must have in order for us all to be "safe". If you anywhere on the senior ladder with an opinion that matters you might be able to conceptualize what I am trying to say. Phil Condit is a true a**hole, but you will never know it talking to him in a croud.
 
Old 6th Feb 2002, 12:19
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So now The "Industry Expert" and the CropDuster have stepped outside the bar to finish off their "discussion".... Can we get back to the thread please?

A friend of mine trades with UAL - They owe him money. And he cannot get them to pay their bills. Does that mean they're in financial trouble? Make your own mind up, but they have debts exceeding 90 days on his books and I'm getting mighty worried that they'll go into Chapter 11 - protecting themselves and their poor shareholders, but BANKRUPTING small traders like my friend. It's always the end of the food chain that gets hit first.
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Old 6th Feb 2002, 22:43
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747FOCAL----first of all, what? What are you saying? You lost me. My point was that I didn't think it was right to put inflamatory remarks or rumors on the board without strong facts. It's really in the way someone states something. I didn't like how good ole Tim Melland stated that UAL WAS GOING to go CHAP 11, and then it didn't.. .Do you see my point? NO? If he knows something. .and it doesn't happen, he should expect some flack.

Joe Bloggs----I am sure your friend is worried. There are a lot of people who are going to be financially hurt if UAL declares bankruptcy. But, if you read the initial thread from TIM MELLAND---he stated that UAL was going CHAP 11 last week or two weeks ago. He was wrong, and even though UAL may declare it sometime in the future, my point in all of this was to be accurate and know the facts before making such a broad statement. I hope your friend doesn't "lose his shirt" becasue of this mess.

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 7th Feb 2002, 03:50
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Why would a company sure up $750M dollars worth of credit if they planned Chapt 11? UAL did just that last week. The most recent press release has stated that UAL will not rule out CHAPT 11 and nothing else. Why would they rule out filing??? The Co will use this to their advantge when dealing with concesions.

As for the credability of Tim M. or DD, that is for you to decide. I think both of these posters just like to get a rise out of the hard working professionals in this industry. GOOD LUCK UAL!

Just one farm boys opinion!
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Old 7th Feb 2002, 04:57
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Farmie,

What? You make no sense. My whole point was to discredit Timmy Mellend because his sources are CRAP. Then you, Farmie, come in and pretend to be my Grandpa. Go back to the Tasty Freeze in the Farm Belt and watch that heavy Cessna 172 takeoff for the mail run while you chew on the double cheeseburger, no pickles, hold the mayo.. .Do you like my rambling? You have no clue about this business. If you ever see me at a "big" INTL airport, and see me in the real "heavy", I will try to toss you a bag of lightly salted beer nuts from the window.

And to good ole FO747CAL, I assume CAL is China. .Airlines in Tapei---- I cant even understand what the heck you are saying.

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 7th Feb 2002, 05:04
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Farmie,

Maybe that was a little mean. I don't know you, and after re-reading your posts I can see that you are somewhat knowledgable. I, too, want UAL to do well. I'm done rambling---I just wanted people to state facts instead of rumors that never did come true----like Frontier/Alaska merger. .and the UAL Chap 11.

Farmie, best of luck to you---sorry about the beer nut comment. Take it easy.

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 7th Feb 2002, 05:53
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Well, Well, Well if it isn't Donkey Dung,

There are a few posters on this board who claim to be genuine...you Donkey Dung are not one of them! Tim M. and you are in the same class. If you think for one minute that because my nick name is FF you are better or more qualified to post here so be it! For all you know I'll be your next Capt.

Tim M.: UAL was going Chapt 11. .You: ah um.....Nothing!

You have no clue what is going on in the world of aviation. If your so smart post something of substance! My guess is that you are a private pilot that can't even get a CFI job. Your hobbies are comming to boards like these to play airline pilot. Little man ego always gets the best of them!

As for the double cheese burger......why don't you hold everything up your @@@!

Riding along in my metal tube at FL002! <img src="eek.gif" border="0"> <img src="eek.gif" border="0">
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Old 7th Feb 2002, 07:13
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I broke my promise. Farmie, I really don't think you will be my Capt anytime soon, I am a Capt! What you say? Do I fly for a major? You bet, one of the big four. Do I care about UAL? Yes I do. Do I hate rumors that are absolutely false and have no merit, yes.

Now Farmie, or Capt Farmie, or PFE Farmie, whatever----go fly your metal tube nice and low. .and keep reading USA Today Money section.

See ya!!!!!

Thanks. Donkey Duke <img src="cool.gif" border="0"> <img src="cool.gif" border="0">
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Old 7th Feb 2002, 08:20
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If Donkey Duke and some others here on this forum REALLY are captains or F/O's on major airlines, then that really scares the s**t out of me - flying commercially in this country.

The bus drivers in my town are more psychologically balanced and exude more confidence than some of these morons.

I guess the government ordered secure cockpit doors, so the kindergarten toys of these babies wouldn't roll out into the cabin, and cause heart attacks among the paying customers.

[ 07 February 2002: Message edited by: Andreas in SAF ]</p>
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Old 7th Feb 2002, 09:23
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Come on you guys/gals. Is it necessary to get personal? Most of us are all literally just one heartbeat or disease away from no career at all: it is very brittle.

No matter what airline pr departments release to the media, sometimes the opposite happens.

There are so many rumours flying around many airlines, that I doubt that the UAL employees will react at all towards anything on PPrune, even if they know about this site. They are probably numb by now. But at least their former CEO is gone. They might be in much better condition (based on "critical mass" and mix of routes etc) than USAirways. Good luck to all of them, especially USairways.
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