Sun, Aug 31, 2003 - Page 11 News List

UAL not expecting to emerge from bankruptcy in 2003

NY TIMES NEWS SERVICE , NEW YORK

This time, United officials have been told the board wants to see just one version of a plan, said people with knowledge of the discussions. But forecasts about the future direction of the industry are proving tough to pin down, given the uncertain economic climate, these people said, giving United a reason to wait.

The airline hasn't decided when it will submit a plan, Sprayregen said on Friday. It most likely would submit proposals simultaneously to the stabilization board, its creditors and the bankruptcy court.

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