UAL Updates 8K for Pilot Contract
 

Figured this needed a clean thread…signs of an imminent deal? I think we will “suddenly” see a TA within the next 2 weeks.

We’re negotiating for the next two weeks in Houston and at least one rep said they’ll be SHOCKED if we don’t have something by the summer.

from the 8k:

the Company has determined that it is appropriate to accrue expense in the first quarter 2023 related to a potential new collective bargaining agreement with employees represented by the Air Line Pilots Association. This accrual represents a shift in the timing of the associated expense from the second quarter 2023 into the first quarter 2023.

Doesn't Q1 end in like 2 weeks? Would be awesome if we get a deal by then but it seems unlikely doesn't it? They also made that decision before they saw the unions latest proposal. But maybe I'm just being pessimistic.

I’m with you, but on the other forums, those with more accounting knowledge than me (which isn’t saying much) - claim that if the expense was determined in the first quarter they must file it for the first q, but can pay out at a later date.

GT already came out with an update saying nothing has changed but negotiations begin in IAH tomorrow. Good on him for such a quick response.

Correct. Sarbanes-Oxley among other regulations require all potential known expenses, risks, etc. to be disclosed in the regulatory filings. Unknown unknowns (to use Rumsfeld's nomenclature) need not be mentioned.