Deal May Free United Funds for Debt Service

Shields, Yvette
September 2003
Bond Buyer;9/2/2003, Vol. 345 Issue 31710, p1
Trade Publication
Reports on the agreement reached between bankrupt United Airlines Inc. and the trustees on two of its special facilities bond issue that would release around $36 million in construction funds to cover its due debt service payments. Unsecured status of bonds; Refusal of United to negotiate the release of construction funds with trustees of other bond issues in the past; Re-characterization of its lease agreements sought by airline to eliminate its obligation to repay the bonds.


Related Articles

  • United's Legal Woes Put Investors on Accountability Alert. Piazza, Johanna // Bond Buyer;10/29/2003, Vol. 346 Issue 31750, p6 

    Reports on the legal uncertainty surrounding the revenue bonds issued for special facilities leased by United Airlines Inc. in Chicago, Illinois. Impact of the case on investors; Airports where special facilities revenue bonds have been issued for United; Control over airports' lease structures.

  • United, Airports, Bondholders Appeal Rulings in Denver Case. Shields, Yvette // Bond Buyer;4/14/2004, Vol. 348 Issue 31862, p3 

    Reports on the move of United Airlines Inc. and investors of special facilities revenue bonds to appeal the court decision on the leases at airports in the U.S. Order of the court to repay the special facilities revenue bonds as an obligation of its lease to operate in an airport; Review of the...

  • United Deal With Trustees Questioned. Shields, Yvette // Bond Buyer;10/18/2004, Vol. 350 Issue 31991, p1 

    Reports that lawyers for the city of Chicago, Illinois raised reservations over the settlement agreement of bankrupt United Airlines Inc. with trustees who represent holders of the airline's special facilities revenue bonds at O'Hare International Airport. Impact of the settlement agreement on...

  • Investors Nix Settlement With United. Shields, Yvette // Bond Buyer;11/22/2004, Vol. 350 Issue 32015, p1 

    Reports that opposition from investors who hold a small piece of United Airlines Inc.'s special facilities revenue bonds at O'Hare International Airport triggered a termination clause in the proposed settlement between the airline and a majority of bondholders in the United States. Return of...

  • United Tries To Stop Lease Penalties. Shields, Yvette // Bond Buyer;3/25/2003, Vol. 343 Issue 31600, p1 

    United Airlines Inc. has asked a federal bankruptcy court to issue a temporary restraining order barring Denver, San Francisco, the Port Authority of New York and New Jersey, and Los Angeles from enforcing lease provisions that permit them to evict the airline for failing to repay special...

  • Kansas Department of Transportation Plans $361 Million Refunding Deal. Williamson, Richard // Bond Buyer;11/17/2003, Vol. 346 Issue 31763, p34 

    Reports on the Kansas Department of Transportation's plans to issue $361.7 million of revenue refunding bonds in November 2003 as part of a debt restructuring. Structure of the deal; Underwriters of the deal.

  • Possible Airline Merger Could Spark Bond-Funded Expansions. Higginbotham, Stacey // Bond Buyer;03/12/2001, Vol. 335 Issue 31094, p1 

    Reports that a possible merger between United States airline companies US Airways Group Inc. and United Airlines Inc. could lead to a bond-financed expansion. Total amount in outstanding debt secured by residual use and lease agreements between the Allegheny County Airport Authority and the...

  • Reorganized United Parent Debuts on Nasdaq, Offers Investors a little Hope. Shields, Yvette // Bond Buyer;2/3/2006, Vol. 355 Issue 32312, p4 

    The article reports on the debut of United Airlines' shares on the Nasdaq exchange. Its shares close at $35.89 in regular trading on February 2, 2006. The outcome of the trading shows that the company's value is significantly higher than originally anticipated. Holders of the airline's $1.7...

  • United Claim May Make Airline Bonds a Riskier Buy. Fine, Jacob // Bond Buyer;4/4/2003, Vol. 344 Issue 31608, p7 

    United Airlines Inc.'s position that its failure to make$ 16 million worth of debt service payments to special facility revenue bondholders on April 1,2003 does not violate its lease agreements to operate at four airports spread concern through the municipal market this week because it cast...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics