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Airline is set to emerge from bankruptcy
ELK GROVE VILLAGE, Ill. (AP) - United Airlines' parent company said yesterday it has launched its bankruptcy exit financing loan of up to $3 billion, effectively starting the countdown toward the conclusion of its three-plus years in bankruptcy.
UAL Corp. said it intends to leave bankruptcy ``on or about'' Feb. 1, as planned for months. A bankruptcy judge must first sign off on the company's exit plan following a Jan. 18 hearing.
The company obtained an agreement for the six-year exit loan last fall from JPMorgan Chase & Co. and Citigroup Inc., with GE Capital to act as syndication agent.
Airline is set to emerge from bankruptcy
ELK GROVE VILLAGE, Ill. (AP) - United Airlines' parent company said yesterday it has launched its bankruptcy exit financing loan of up to $3 billion, effectively starting the countdown toward the conclusion of its three-plus years in bankruptcy.
UAL Corp. said it intends to leave bankruptcy ``on or about'' Feb. 1, as planned for months. A bankruptcy judge must first sign off on the company's exit plan following a Jan. 18 hearing.
The company obtained an agreement for the six-year exit loan last fall from JPMorgan Chase & Co. and Citigroup Inc., with GE Capital to act as syndication agent.
posted by Jones Lang LaSalle NJ News Blog at 3:10 PM
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