UAL shares were also up in pre-market trading today, climbing to $4.90 from the previous close of $4.15. UAL's said it has reached an agreement in principle with German development bank KfW to restructure about $500 million of debt due in November and December as the air carrier works to avoid a bankruptcy filing.
United Airlines' parent company was still riding a brisk tailwind Wednesday, the morning after the troubled carrier got some breathing room from its German bankers.
UAL was up over 7% to $4.45 in the early going, building on a nearly 30% rise on the previous session.
United Pilots' Master Executive Council Urges State Street Bank & Trust Company To Stop Selling and Begin Buying Back UAL's ESOP Company Stock
Paul Whiteford, Chairman of the United Master Executive Council (the "UAL-MEC"), the governing body within the Air Line Pilots Association, International, AFL-CIO, which represents the pilots of United Airlines sent a strongly worded letter to State Street Bank & Trust Company, Trustee of the United Airlines Corporation ESOP urging the Trustee to stop selling and begin buying back UAL shares sold in the last few weeks.
Location: Chicago, IL and Hong Kong - United 1K Since 2000
Posts: 4,110
Quote:
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Rudi: Q: if a share drops by 99%, how many % must the same share rise to get back to it's original value?
A: 9'999%</font>
Yep, hence, buy LOW
Those who bought at 30 in the good old days might have to sit on that for years.
------------------ When once you have experienced being a 1K, you will forever fly the friendly skies with your eyes set on 100% mileage bonus and SWUs, for there you have been, and there you will always long to return, every year!
__________________ When once you have experienced being a 1K, you will forever fly the friendly skies with your eyes set on 100% mileage bonus and SWUs, for there you have been, and there you will always long to return, every year!
Now the pilots are so confident that UAL will avoid bankruptcy that the want the sale of shares by the ESOP stopped, and want the trust to buy back the shares already sold.
