Manufacturing Industry
Amendment to bankruptcy financing planned by United Airlines
Airline Industry Information, August 9, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Bankrupt United Airlines' parent company, UAL Corp, has announced that it is planning to take action to prevent the repossession of 14 aircraft by increasing its bankruptcy financing to USD350m from USD310m.
According to Reuters, the amendment would be the 13th to the company's debtor-in-possession financing since the US carrier entered bankruptcy in December 2002.
A reorganisation plan is scheduled to be revealed by UAL in September in an effort to start the airline's exit from bankruptcy.
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