United's Chapter 11 exit approved…

FROM THE BBC:

US carrier United Airlines has had its plan with creditors approved by a US court and will now leave bankruptcy protection status on 1 February.
The nation’s second biggest airline has shed a quarter of its workforce and made $7bn(£3.9bn) cost cuts to compete with low-cost and slimmed-down rivals.

The airline has been restructuring for three years after failing in late 2002.

Creditors and trade unions have been critical of a controversial equity compensation package for top managers.

FULL STORY: http://news.bbc.co.uk/1/hi/business/4633148.stm