NYTimes.com Article: UAL Posts $75 Million Loss for November

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UAL Posts $75 Million Loss for November

December 24, 2003
 By REUTERS





CHICAGO, Dec. 23 - The UAL Corporation, the parent of
United Airlines, reported a net loss of $75 million in
November on Tuesday, including reorganization expenses and
a gain from the sale of its stake in the online travel
company Hotwire.

The airline, which has been operating in bankruptcy
protection for a year, said it generated positive cash flow
of about $69 million in November, excluding proceeds from
the Hotwire sale. The carrier also said it ended November
with a cash balance of about $2.6 billion, including $633
million in restricted cash.

UAL said it earned $3 million in November excluding
reorganization expenses but including an $81 million gain
from the sale of Hotwire, a unit of the InterActive
Corporation. The majority of reorganization expenses were
noncash items resulting from the rejection of certain
aircraft, the carrier said.

The airline, which is based in Elk Grove Village, Ill.,
also said it met the requirements of its bankruptcy
financing package for a 10th consecutive month in November
and expected to meet them in December.

http://www.nytimes.com/2003/12/24/business/24ual.html?ex=1073275517&ei=1&en=cc5fe80d2d9641f5


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