United Airlines (UAL) Discloses 28M Share Equity Distribution Agreement
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United Airlines pledges loyalty program for $5 billion loan
June 15, 2020 8:38 AM EDTBy Tracy Rucinski
CHICAGO (Reuters) - United Airlines (NASDAQ: UAL) said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.
So far, United continues to book more new tickets than cancellations for the second and third quarters but said it still expects annual... More
United Airlines (UAL) Expects To Have Approximately $17 Billion In Available Liquidity By September, Amount Reflects Committed Financing of $5 billion to be Secured by Loyalty Program
June 15, 2020 8:34 AM EDTUnited Airlines (NASDAQ: UAL) today announced that it expects to have total available liquidity of approximately $17 billion at the end of the third quarter of 2020.[1] This dollar amount reflects committed financing of $5 billion to be secured by the airline's loyalty program, MileagePlus, that allows the airline to continue to operate, evolve, and grow the program, as well as $4.5 billion expected to be available to United through the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") Loan Program. The company believes it has sufficient slots, gates and routes collateral available to meet the... More
