United positive Jan. cash flow beat forecast CHICAGO (Reuters) =97 UAL Corp. Chief Financial Officer Jake Brace said=20 Wednesday that wage concessions from labor unions helped bankrupt United=20 Airlines turn in positive cash flow for the month of January, beating its=20 own forecast. The company's January cash flow was a positive $1 million per= =20 day compared with its expectations of a negative cash burn rate of $10=20 million to $15 million per day, Brace said at a meeting of creditors in=20 Chicago. Brace also said UAL expected to exceed its first target for=20 EBITDAR, or earnings before interest, taxes, depreciation, amortization and= =20 rent. The target was set up by the lenders of its debtor-in-possession=20 financing. He attributed the phenomenon in part to interim wage reductions= =20 from labor groups that the company secured earlier than expected. Most of=20 UAL's labor unions agreed to temporary pay cuts while they work out=20 long-term deals, and a judge imposed the wage cuts on the holdout=20 machinists union. UAL filed the largest bankruptcy in aviation history on=20 Dec. 9. The airline also said Wednesday it had a higher cash balance after= =20 its bankruptcy filing than it expected, in part due to fewer passengers=20 booking on other airlines than originally forecast. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: http://www.tha.gov.tt/ TnT Webdirectory: http://search.co.tt *********************************************************