United, Seeking to Avoid Eviction, Appeals for 'Disguised' Financing

Shields, Yvette
May 2003
Bond Buyer;5/27/2003, Vol. 344 Issue 31643, p1
Trade Publication
This article reports that the United Airlines Inc. has applied to the U.S. Bankruptcy court to classify its agreements that govern special-facilities revenue bond issues at four airports not as true leases but as disguised financing arrangements in 2003. This would allow the airline to avoid eviction despite its failure to repay the debt. The ruling stands to impact not only the status of current bondholders' claims and the airport owners' ability to evict the airline.


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