United Airlines Gets More Time to Exit Bankruptcy
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United Airlines was given “exclusivity” until July 30 to organize its own emergence from bankruptcy, U.S. Bankruptcy Judge Eugene Wedoff said in court in Chicago. The ruling comes a day after a crushing decision by the Air Transportation Stabilization Board (search) to reject United’s bid for a federal loan guarantee for a second time, though two members of the three-member panel said they might reconsider the matter and the third reserved his decision. Shares of UAL were down 13.5 cents at $1.34, after falling 29 percent earlier in the New York Stock Exchange (search) session. |