Last Thursday I said that United would file by bankrupty by the following Thursday. It took only until Monday. I flew the airline this morning, and the pilot sought to reassure passengers that the crew would not be distracted.
Now begins the flurry of activity — also known as business as usual — to restructure the airlines. Most of the news stories report on pro-forma activity, such as this piece from Crain’s Chicago Business which describes United’s request for the bankruptcy court to approve agreements with legal counsel, financial advisors, auditors, and public relations advisors.