bankruptcy
United Airlines' CEO said filing for bankruptcy was the only way to keep the airline flying after two years of heavy losses.
Speaking to employees on a company hotline Monday, Glenn Tilton said the airline's flights will continue in the U.S. and around the world.
United filed for Chapter Eleven bankruptcy protection in a federal court in Chicago early Monday.
It's the largest bankruptcy filing in aviation history and is one of the top ten overall, when measured by assets.
Tilton said the filing will allow United to secure its long-term future and maintain its position as a major player in the industry.
United is reeling from two years of big losses, and has been unable to pay off nearly $1 billion in debt that comes due this week.
Tilton said he expects the bankruptcy process to be completed within 18 months.
What's on Tonight
Your Opinion
Follow WTVY
WTVY Hometown Classifieds
-
Holden Colorado 2012 2013 OEM stereo radio auto dv
-
Uma Physiotherapy Clinic
-
Holden Colorado HFV6 Rodeo radio auto dvd player g
-
Isuzu DMAX OEM radio GPS DVD Player bluetooth rear
-
Welcome to India Tours and Travels
-
Sweet Baby Face T-cup Yorkie Puppies Available For
-
Silver Jewellery from Pia Jewellery"Amir
Hafeez
Wiregrass Photobook
Missing donkey
Sasha
Hunter
Rainbows
Double rainbow in red level al
MY Dads Grave
Upload your images, or browse our other albums.
