United to start low-fare unit

16th Sep 2003

United is moving ahead with plans to start a lower-cost, low-fare operation in first-quarter 2004 with a fleet of 40 aircraft, a United spokesman confirmed.
United, meanwhile, has slowed its timetable to file a reorganization plan.
The airline, in Chapter 11, asked a bankruptcy court to give it another six months, until April 6, to file its plan.
For example, the company`s schedules and statements of financial affairs consumed more than 15,000 pages, including a listing of more than 40,000 contracts and 350,000 creditors, and there have been more than 3,800 court filings in the case, United said.
But United also said it needs more time to address restructuring issues, including funding for its pension program, which it must resolve to obtain exit financing.



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