CHICAGO, Dec. 30 (UPI) -- United Airlines wants its unions to accept short-term pay cuts of 9 percent to 29 percent to help the bankrupt carrier qualify for $1.5 billion in debtor-in-possession financing, but not all the unions are going along.

The nation's second-largest airline reached wage-cutting pacts with four of its six unions on Friday saying it needed a quick infusion of cash to pay bills to keep flying.

U.S. Bankruptcy Court Judge Eugene R. Wedoff Monday held a status hearing on the carrier's Dec. 9 Chapter 11 bankruptcy petition to set a timetable on renegotiating labor contracts and decide which creditors get paid and when. Labor costs at United are the industry's highest, accounting for about 48 percent of operating expenses.

United is seeking $2.4 billion in wage and benefits concessions from the unions as well as work rule concessions.

The carrier reached agreements with the Air Line Pilots Association, the Association of Flight Attendants, dispatchers and meteorologists to take effect on New Year's Day, but two locals of the International Association of Machinists and Aerospace Workers oppose the givebacks.

Pilots accepted a 29 percent cut, flight attendants 9 percent and two smaller unions 13 percent. The pilots want to buy more stock to maintain their seat on the board while 401(k) pension fund managers would like to dump remaining UAL Corp. (NASDAQ:UAUA) shares.

United stock rose 5 cents, or 3.62 percent, to $1.43 in light trading Monday on the New York Stock Exchange.

United began the process of voiding its union contracts last week. Approval of a Section 1113 motion would allow United to impose pay cuts if negotiated settlements could not be reached by a Feb. 15 deadline.

The mechanics rejected sharing in $5.2 billion in cuts requested by United before the carrier filed for Chapter 11 bankruptcy protection.

United initially sought a 9 percent pay cut from mechanics but is now seeking a 13 percent cut from the adversarial IAM.

"Non-negotiable pay cuts proposed by United for IAM members as 'take it or leave it' measures was rejected by the district leadership and will not be presented to IAM membership for ratification," said Scotty Ford, president and general manager of IAM District 141-M, in a letter to membership posted on the local's Web site. "The IAM believes United's financial problems can be best resolved with a business plan that emphasizes negotiations and partnership with its union-represented employees for the long-term health of the airline, its employees and shareholders."