Originally Posted by
medellinfein
Precise figure filed with bankruptcy court is $904 million which, according to the article, is greater than the airline's losses for the first three-quarters of the year combined.
I expect that this will strengthen management's hand in this restructuring phase....we see it in the workforce layoffs mentioned, and we will see it further in the concessions extracted from the unions.
http://www.nbcdfw.com/news/business/...138481174.html
I good deal of this was tied to the write down in a/c value, a non cash charge. When companies file for Chapter 11 or even hit a rough patch financially it is not uncommon to see huge write downs in the value of assets and goodwill.
Moreover, airlines often have sizable quarterly non cash charges just as UA did for its recent fourth quarter.