Press Release Source: United Airlines
United Airlines to Retain Bridge Associates for Independent Analysis of Its Business Plan
Friday October 22, 4:45 pm ET
CHICAGO, Oct. 22 /PRNewswire-FirstCall/ -- United Airlines today filed for bankruptcy court approval to retain Bridge Associates to conduct an in-depth, independent analysis of its current business plan. The company has asked the court to consider this motion next week.
United selected Bridge Associates in consultation with the International Association of Machinists and Aerospace Workers (IAM) and the Association of Flight Attendants (AFA) for this assignment. While United has developed its business plan in consultation with its key stakeholders, including the working groups of the Creditors Committee, all parties believed that an independent evaluation of the plan would be productive.
If this matter is approved by the court, Bridge Associates will conduct its research and issue a confidential report detailing its analysis of the Company's business plan. The firm's report is to be completed approximately 30 days after work commences and the firm has agreed that it will not be retained by any entity to provide any other services in connection with the United bankruptcy case once the thirty-day engagement is over.