Old 12-20-2012, 09:59 PM
  #3  
Lerxst
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Joined APC: Mar 2012
Position: B777 CA - SFO
Posts: 728
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It took all of 15 seconds to find this little nugget in the UAL 3/31/10 10k.

Encumbered Assets. As of March 31, 2010 and 2009, a substantial portion of the Company’s assets, principally aircraft, spare engines, aircraft
spare parts, route authorities and Mileage Plus intangible assets were pledged under various loan and other agreements. After the assets pledged under the
Senior Notes issuance, discussed above, were released from the Amended Credit Facility in April 2010, a balance of approximately $200 million in
unencumbered assets remains.


Only 200 million of unencumbered assets for a company just a little over 3 years out of bankruptcy?

We can do this all day and get absolutely nowhere. We both sucked.
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