UAL Corp. Amends Existing $1.5B Credit Agreement >UAUA
By Daniel at 6 May, 2008, 7:30 pm
UAL Corp. Amends Existing $1.5B Credit Agreement >UAUA
Last Update: 5/6/2008 7:24:24 PM
DOW JONES NEWSWIRES
UAL Corp. (UAUA) said its lenders agreed to amend its existing $1.5 billion
credit agreement to provide the company with the “flexibility to implement”
action to fight higher fuel costs.
The Chicago-based parent company of United Airlines said it is comfortable with
its liquidity.
As part of the amended pact, UAL must maintain a cash balance of $1 billion
beginning in the second quarter.
Shares in UAL Corp. continued to fall after hours, shedding 17 cents to $13.98
from a decline of 85 cents, or 5.7%, as of the close of the regular session.
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