Looks like end of SEP is the new drop dead date

Taipan

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Aug 20, 2002
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Associated Press
United Seeks 2-Week Labor Extension
Pilots Union Says United Airlines CEO Seeking 2-Week Labor Extension
Tuesday September 10, 3:34 pm ET
By DAVE CARPENTER, AP Business Writer
CHICAGO (AP) -- United Airlines'' new chief executive wants to push back to the end of September the Monday deadline set by his predecessor for reaching critically needed labor agreements, according to the pilots union.

Glenn Tilton told the pilots he would ask the Air Transportation Stabilization Board for an additional two weeks to amend United''s application for a $1.8 billion government loan guarantee, union spokesman Herb Hunter said Tuesday.
Such an extension could push back until Sept. 30 the deadline for unions of the employee-owned airline to agree to a financial recovery plan.
United spokesman Joe Hopkins declined to discuss the carrier''s dealings with the federal board but noted that Tilton had confirmed publicly last week that he might seek an extension.
A spokeswoman for the Air Transportation Stabilization Board declined comment Tuesday.
Under newly retired CEO Jack Creighton, United last month said it needed $1.5 billion in annual labor cost reductions to obtain the loan guarantee and avoid a Chapter 11 bankruptcy filing.
Unions think that amount is excessive and have been working on their own proposal.
With the fate of the nation''s No. 2 airline at stake, the federal board
 
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Taipan

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Aug 20, 2002
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may look favorably on a request for a brief extension from the money-losing carrier. Besides the Sept. 2 change in CEOs, progress toward a hoped-for labor settlement will be interrupted this week by Sept. 11 memorial events.

Tilton was scheduled to fly to New York and Washington on Wednesday to participate in commemorative ceremonies. Two of the four planes involved in last year's terrorist attacks were United's.

United's new leader called his first week on the job encouraging, citing constructive talks with union leaders and numerous meetings with workers in hallways, break rooms and airport baggage handling areas in Chicago and San Francisco. In his taped weekly message for employees, he pointed to United's industry-best on-time record in July, a company first, as a positive achievement amid financial crisis.

There is absolutely no doubt in my mind we are in a very tough situation, Tilton said. As I mentioned in my first message, we have some critical decisions to make and there is no room for error.

Shares in United parent UAL Corp. fell 14 cents to $2.60 in afternoon trading on the New York Stock Exchange.
 

usfliboi

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Aug 20, 2002
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Trust me when i say , this is the first of many Drop Dead dates..... at us we went thru many and still are so dont even pay attention the deadlines because they will drive u nuts!
 
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Taipan

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Aug 20, 2002
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+Good ole Joe+ United spokesman Joe Hopkins said Tilton has not decided whether to ask for an extension and won't until he sees what financial proposal the unions come up with.Well I can tell you it wont be 9 bil over 6

 

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