This report is interesting considering Reuters recently reported "US Airways asked a US Bankruptcy Court in Virginia to give it an additional 60 days to decide whether to assume or reject the (United Airlines) code-share contract.
Actually, with the 180 day limit on assuming or rejecting contracts ending and UA & US still in discussion, what was filed was a stipulation that both parties agreed to extend the deadline. The pertinent part is:
WHEREAS, on March 3, 2006, the Reorganized Debtors filed their Motion to Assume Certain Executory Contracts and Unexpired Leases on the Post-Effective Date Determination Schedule Pursuant to 11 U.S.C. § 365(a) (Docket No. 3826) (the 'Motion to Assume'), which seeks authority to assume without modification, among others, the Agreements;
WHEREAS, the Reorganized Debtors and United are continuing their discussions regarding the Agreements and consensual modifications with respect thereto and assumption thereof as modified.
NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by the
Reorganized Debtors and United, as follows:
1. The hearing on the Motion to Assume with respect to the Agreements is hereby continued to the April 6, 2006 Omnibus Hearing at 9:30 a.m., and United's deadline to respond to the Motion to Assume is hereby extended to April 4, 2006 at 5:00 p.m. (EDT).
2. The deadline for the Reorganized Debtors to assume or reject the Agreements is extended through and including April 6, 2006, and may be further extended by agreement of the parties.
Jim
ps - Not dealing with more airplanes, but since the subject of BK filings came up.....
A motion has been filed to close the C11 cases of US Group, PSA, Piedmont, & Material Services Company effective 3/31/06 - all the affiliated debtors
except US Airways Inc (mainline).