Colorado's largest airline hopes to emerge from bankruptcy in the next six to nine months. United Airlines officials told a bankruptcy court today they're targeting the fourth quarter of this year or the first quarter of next year to exit Chapter Eleven status.
United must first line up financing for post-bankruptcy operations. The airline will also apply for a federal loan guarantee. United filed for bankruptcy last December. It has until early October to file a reorganization plan with the U-S Bankruptcy Court in Chicago.
Chief Financial Officer Jake Brace also says United's overseas bookings have improved sharply from a month ago. Air travel had dropped off significantly because of the SARS virus and the war in Iraq.