By Kathy Fieweger CHICAGO, June 14 (Reuters) - Pilots at UAL Corp.'s (UAL) United Airlines on Friday reached a tentative agreement to take part in a financial recovery plan, including concessions the No. 2 U.S. carrier says it needs to restore financial health. No terms were released by United or the pilots, represented by the Air Line Pilots Association. The deal is subject to UAL board approval and, after review by an executive council for the union, ratification by about 9,000 rank-and-file pilots. UAL Chief Executive Jack Creighton said earlier this week the airline would apply for federal loan guarantees under the government's $15 billion aid program set up after the Sept. 11 attacks if it can reach agreement with employees on cost cuts. UAL has not yet said how much loan money it wants the government to back. If the pilots deal is approved, Creighton said in a statement it will result in significant cost reductions for United while providing pilots with "additional opportunities for participation in United's future growth." FIRST STEP Steve Derebey, spokesman for United's Air Line Pilots Association unit, said the union leadership will review the plan on Monday. Pilots own about 28 percent of the company after a 1994 employee stock ownership plan. Mechanics own about 20 percent and salaried and management workers, about 9 percent. Flight attendants did not take part in the 1994 buyout, designed to foster labor harmony that never quite came about. UAL reported an industry record $2.1 billion net loss in 2001 and a net loss of $510 million in the first quarter of 2002 as it fought a business travel slump and weak demand for air travel following the Sept. 11 hijack attacks. Union representatives for United mechanics and flight attendants said on Friday they have no talks scheduled with the carrier and both balked at cost cuts. UAL has asked the 38,000 workers represented by the International Association of Machinists to take 10 percent pay cuts and allow their contracts to be extended, spokesman Joe Tiberi said on Friday. However, UAL has not demonstrated a need for those cuts, he said. The Association of Flight Attendants, representing about 25,000 United flight attendants, has had general discussions with UAL about a business plan, but the carrier has not presented any terms, spokeswoman Dawn Deeks said. The flight attendants agreement with United pegs their wages at the industry average and they will not discuss cuts, Deeks said. ©2002 Reuters Limited.