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UAL Files for Chapter 11 Bankruptcy | On This Day
Posted
December 9, 2024
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15,463
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December 9, 2024
15,463
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2:20Now PlayingOn this day, December 9th, 2002, when UIL Corp, the parent of United Airlines, filed the largest aviation bankruptcy in U.S. history. Record losses, high cost and a travel slump leaving the world's second biggest carrier unable to pay about a billion dollars in overdue debt. Now, while that bankruptcy was the result of a hodgepodge of events that have been bubbling up for years, the tipping point really came with the fall of four key dominoes over 2 year.
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