<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by LemonThrower:
Generally speaking, miles holders have an unsecured claim. They only have to pay you what you would receive in a liquidation (i.e. if the company were to quit doing business). Typically, that's pennies on the dollar. However, the reorganization play can and often does treat some creditors better than others. Some think the FF programs have value as a marketing source and might be honored, but they don't have to.</font>
UAL is not likely to put pressure on its frequent fliers right now by eliminating the MileagePlus program or radically altering it.