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UAL negotiating $2B DIP.
Byline: Lou Whiteman
United Airlines parent UAL Corp. confirmed Thursday, Nov. 14, that it is in discussions with lenders about securing up to $2 billion in debtor-in-possession financing in case it is forced into bankruptcy.
Company officials said that they were gauging the interest of various banks in supplying the financing, but refused to say what institutions they had spoken with.
The capital would sustain the Elk Grove Township, Ill.-based company's operations for about two years, enough time to take the company through a complex Chapter 11 restructuring, …
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