United Airlines says it is on track to line up its bankruptcy exit plan this month after winning court permission to seek an additional $310 million in loans. With an exit financing total of $1.3 billion and almost all labour contracts in place, United would have accumulated a substantial cushion to face high fuel costs and fare wars. The airline has been in reorganisation since December 2002 and its formal exit could well come after its third anniversary of being in Chapter 11.
Source: Airline Business
