United CEO Thinks Spirit Will Liquidate Assets Following Bankruptcy — What That Could Mean for Travelers [Yahoo! Finance]
United Airlines Holdings, Inc. (UAL)
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Source: Yahoo! Finance
“I think the current business plan is not going to work and, if they pursue it, Chapter 11 will be a brief pit stop on the way to Chapter 7,” Scott Kirby, CEO of United Airlines, said at an event at Washington's Dulles International Airport on Thursday. (Chapter 7 is the section of the U.S. bankruptcy code where a company shuts down and liquidates its assets.) A longtime critic of Spirit's business model that wooed travelers with low, à-la-carte fares, Kirby echoed the skepticism expressed in some corners of the airline industry. Many question Spirit's restructuring plan that leans heavily on growing revenue with new premium products and fare “bundles” while only marginally improving its debt-and-balance sheet. "Spirit remains dedicated to pairing great value with excellent service and firmly believes our low-fare business model is important for competition in the U.S. domestic airline market, which is 80% controlled by four dominant carriers," a spokesperson for the airline shar
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UAL
Earnings
- 10/15/24 - Beat
UAL
Sec Filings
- 11/26/24 - Form 4
- 11/22/24 - Form 144
- 11/5/24 - Form 4
- UAL's page on the SEC website