NEWS: US Airways Uses Another GE Lifeline

GE, the largest creditor to US Airways, has agreed to give the airline another month to file a draft bankruptcy plan. So lets do the date dance. US Airways originally told GE they would file a plan by Feb 15th that would have them exiting bankruptcy by June 30th. In the mean time the bankruptcy court told US Airways that they need to have a plan in place by March 31st. Now US Airways has asked GE to give them until March 15 to have a draft plan filed..you know...the same one that the court told them to have done by the 31st. Confused yet...I am.

You'll have to forgive US Airways if they seemed a bit pre-occupied with GE. US Airways owes enough money to GE that GE quite literally controls their destiny. If GE tires of trying to prop up US Airways they could simply quit extending deadlines and call them on the money they owe. But it seems that GE does not feel a US Airways implosion is in their best interest so we all get to enjoy the US Airways bankruptcy thrashing a little longer.