US bankruptcy judge grants final approval to United reorganization

[JURIST] US Bankruptcy Judge Eugene Wedoff [official profile] from the Northern District of Illinois signed off on the United Airlines [corporate website] reorganization plan [official website; UAL materials] Friday, in a move that will allow the airline to emerge from Chapter 11 bankruptcy [JURIST news archive] by February 1. The plan was submitted [JURIST report] by United's parent company, UAL Corporation, in September and United is now on track to come out of the nation's longest airline bankruptcy after three years of restructuring. UAL has taken several cost-cutting measures while under reorganization, including severing its employees' pension plans [JURIST report]. Company officials said they are pleased with the outcome [press release]. AP has more.

 

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