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United Airlines Situation Similar to Continental's Push Into Bankruptcy.
- Article from:
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Knight Ridder/Tribune Business News
- Article date:
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December 6, 2002
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Copyright informationCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Bill Hensel Jr., Houston Chronicle Knight Ridder/Tribune Business News
Dec. 6--A sluggish economy, war in the Middle East and a sudden drop in airline passengers all combined to bring the airline industry to its knees. And then a major airline was forced into bankruptcy.
Sound familiar?
Although that scenario sounds eerily similar to what appears to be transpiring today, it actually was the early 1990s. The airline being forced into bankruptcy was Houston-based Continental Airlines.
"The industry had suffered a drop in traffic because of the slow economy, and all of a sudden, there was a war in the Middle East," said David LeMay, a lawyer who worked ...
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