ADVISORY/Experts Available To Discuss United Airlines Filing Bankruptcy.Business Editors ADVISORY... --(BUSINESS WIRE)--Dec. 9, 2002 TOPIC: United Airlines filed for bankruptcy Monday, which makes it the largest filing in the history of aviation, according to an article by The Associated Press. The company lost $4 billion in the last two years as a result of a sluggish economy, ineffective business strategies and the Sept. 11 terrorist attacks. United CEO Glenn Tilton expects the bankruptcy process to be finished in 18 months and says that United will continue flying, the article says. Although experts expect the bankruptcy to result in fewer flights, frequent-flier miles and fares should remain in tact for the short term. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Ronald L. Fein is a senior partner at Stutman, Treister & Glatt Glatt may refer to:
Carl Eklund, airline bankruptcy attorney of LeBoeuf, Lamb, Greene & MacRae, L.L.P., is available for comment regarding the current news of airline problems and the discussion of bankruptcy and potential bankruptcies. He is a resource for speaking on-the-record or for background. He is a lead partner in the bankruptcy practice for the New York-based international law firm of LeBoeuf, Lamb, Greene & MacRae. His areas of practice focus especially on bankruptcy and corporate restructuring and workout Workout Informal repayment or loan forgiveness arrangement between a borrower and creditors. workout 1. The process of a debtor's meeting a loan commitment by satisfying altered repayment terms. . His principal expertise is in large and complex Chapter 11 bankruptcy cases as debtors' and/or creditors' committee creditors' committee A group of lenders who seek to protect their interests in connection with a borrower that experiences financial difficulties. counsel. He has several specific airlines related experiences, including serving as debtor's counsel in the successful confirmation of the America West Airlines America West Airlines was one of the United States' ten major airlines. The airline was based in Tempe, Arizona, and is now a part of US Airways Group. At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International case in Phoenix. Before that he acted as debtor's counsel in the original Frontier Airlines This article is about Frontier Airlines that was founded in 1994. For the company known as Frontier Airlines from 1950 to 1986, see Frontier Airlines (1950-1986). For the similarly named Frontier Flying Service see Frontier Flying Service. Chapter 11 case in Denver. He and members of his group also represented Continental Airlines concerning its business and leasing issues in its second Chapter 11 filing. Eklund not only is one of the nation's top bankruptcy attorneys, he is both knowledgeable and eloquent (without being confusingly complex) when describing bankruptcy terms and situations. 212-424-8482, 303-291-2630, ceklund@llgm.com Stan Pace is a director of Bain & Company's Dallas office. Over the past 20 years, he has advised senior managers in a wide range of industries including airlines, defense and aerospace, computers, semiconductors and consumer products. Stan's work in these industries has emphasized corporate strategy and turnaround management. He is currently the firm leader of the airline and corporate transformation practice areas. He has also been extensively involved in firm governance. Recently, Mr. Pace temporarily left Bain & Company to lead the turnaround of American Trans Air (ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment ) as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . ATA is the largest US charter airline and the tenth largest US passenger airline. Over the approximate one-year period in which Mr. Pace led ATA, cash balances tripled, profitability was restored and stock price rose over 50%. PR: Cristina Paquette, 646-562-7813, cristina.paquette@bain.com ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/ifmd/index.html. |
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