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Strategies & Market Trends : Sharck Soup

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To: Softechie who wrote (35694)	9/18/2001 12:49:23 PM
From: Softechie	of 37746

Airlines Warn of Bankruptcy Protection WASHINGTON (Reuters) - Absent a federal government bailout, U.S. commercial airlines are expected to start filing for bankruptcy protection within days, industry documents showed on Tuesday. The papers, which are being presented to members of Congress to rally support for a $24 billion bailout, said cash was short and few sources of revenue are expected to be available. ``Based on the forecast reduction in airline revenues and the current cash positions of the U.S. carriers, U.S. carriers are expected to commence filing for Chapter 11 bankruptcy within days,'' the industry said. ``Within 90 days, it is estimated that many of the airline industry will be in Chapter 11.'' No specific carriers were mentioned. Airline chief executives are meeting with Bush administration and congressional leaders on Tuesday, trying to build support for their plan.

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