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United, Delta strike deals for additional financing.

Publication: Business Travel News
Publication Date: 17-OCT-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
United Airlines parent UAL Corp. this month said it finalized a $3 billion all-debt exit-financing package, the latest step taken in the company's march toward completing a lengthy bankruptcy reorganization.

Arranged by J.P. Morgan and Citigroup, the deal was achieved with "very competitive terms" and "is a validation of three years of hard work," said UAL CFO Jake Brace.

At the beginning of its court-supervised bankruptcy restructuring, Delta Air Lines...

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