CHICAGO (AP) -- United Airlines' parent company said Friday it would submit its formal plan for exiting bankruptcy protection to a judge early next month.
In a bankruptcy court filing, United parent UAL Corp. detailed its timeline for filing the documents that will form the blueprint for its emergence from its 2 1/2-year Chapter 11 bankruptcy later this year.
The company said it plans to submit around Aug. 1 its financial disclosure statement and Plan of Reorganization - two key documents that spell out how United will settle its claims with lenders and other parties and detail its future business model.
''Today's filing represents perhaps the most significant step forward in our restructuring,'' United CEO Glenn Tilton said in a statement.
''There is still much work to do and this is an aggressive schedule, but one that is achievable,'' Tilton told employees in a recorded message.
Elk Grove Village-based UAL asked the bankruptcy court to schedule a hearing in early September to approve the disclosure statement.
