What's with CO's mgmt--they got to erase their debt through Chap 11 twice..seem to have a crooked hair with UA even more than from a straight competitive standpoint.

From Tuesdays' New York Times( full story at http://www.nytimes.com/2002/12/03/business/03AIR.html

....Continental today released a gloomy outlook for United's future financial performance....Continental's document also rebutted United's contention that it would return to an operating profit in 2004 and begin repaying the loans in 2005....

...Gordon M. Bethune, Continental's chief executive, said in an interview today that the analysis showed that United's restructuring plan was inherently flawed. "The concessions themselves are not enough for United to be a viable company," Mr. Bethune said by telephone from his office in Houston. "The taxpayers are going to lose this money. All of it will be gone. They do not have a plan that will work."

Mr. Bethune, whose airline sought bankruptcy protection in 1983 and 1990.....


[This message has been edited by jss (edited 12-02-2002).]

[This message has been edited by jss (edited 12-02-2002).]