UAL Is Granted Recovery Extension

United Airlines parent UAL Corp., the largest U.S. airline ever to file for bankruptcy protection, won a five-month extension of the deadline for submitting its recovery plan to the court.

Bankruptcy Judge Eugene R. Wedoff in Chicago agreed to give UAL a second extension, which means the carrier retains until March 6 the exclusive right to file a reorganization plan. This precludes creditors and others from submitting competing proposals.