This article from NYTimes.com has been sent to you by psa188@xxxxxxxxx /-------------------- advertisement -----------------------\ Explore more of Starbucks at Starbucks.com. http://www.starbucks.com/default.asp?ci=1015 \----------------------------------------------------------/ U.S. Aid Gives United's Parent a Profit June 28, 2003 By BLOOMBERG NEWS The UAL Corporation, the parent of United Airlines, yesterday reported a net income of $64 million for May, helped by $300 million in federal aid for costs related to the Iraq war. It also said it met bankruptcy loan terms for the fourth straight month. UAL said it complied with loan requirements that its losses not exceed $738 million before interest, taxes, depreciation, amortization and aircraft rent from Dec. 1 through May 31. The May loss from operations was $155 million, the company said. The carrier, which filed for bankruptcy in December, said last week that it expected to end Chapter 11 protection as early as the fourth quarter. UAL earlier this year negotiated $2.56 billion in annual labor savings and reduced capacity. The labor concessions could save the company at least $500 million in the second quarter compared with a year ago, the chief financial officer, Jake Brace, said in the statement. UAL also expects to comply with loan terms for June, Mr. Brace said. The company in its monthly report, filed with the Federal Bankruptcy Court in Chicago, said its cash increased by about $456 million in May, helped by the federal aid, for a total of about $2.2 billion. http://www.nytimes.com/2003/06/28/business/28UAL.html?ex=1057810510&ei=1&en=66be58a591ade311 --------------------------------- Get Home Delivery of The New York Times Newspaper. Imagine reading The New York Times any time & anywhere you like! Leisurely catch up on events & expand your horizons. Enjoy now for 50% off Home Delivery! Click here: http://www.nytimes.com/ads/nytcirc/index.html HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2003 The New York Times Company