UAL Suspends Talks on Wide-Body Jets: The...
From Times Staff and Wire Reports
UAL Suspends Talks on Wide-Body Jets: The Chicago-based parent of United Airlines, in a newsletter to employees, said it has temporarily suspended negotiations for wide-body aircraft orders with airframe and engine manufacturers until Aug. 9. The development was viewed as a sign that the group seeking the airline is serious about partly financing the planned $4.4-billion buyout with the help of aircraft manufacturers or engine makers, arbitragers said. The internal newsletter said the board was acting on a request from United Employee Acquisition Corp., the employee-union group attempting a leveraged buyout of UAL.
