Manufacturing Industry
United Airlines negotiating debtor in possession loans
Airline Industry Information, Nov 15, 2002
AIRLINE INDUSTRY INFORMATION-(C)1997-2002 M2 COMMUNICATIONS LTD
United Airlines' parent company, UAL Corp, is reportedly holding talks with lenders on loans of up to USD2bn.
The loans would enable the airline to maintain operations if it is forced to file for bankruptcy. However, officials declined to comment on which banks were involved in the discussions for the possible "debtor in possession" loans.
Sources familiar with the talks cited the potential lenders as J.P. Morgan Chase, Citigroup and GE Capital, reported Reuters.
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COPYRIGHT 2002 M2 Communications Ltd.
COPYRIGHT 2002 Gale Group
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