AIRLINES

UAL Corp. Stock Decline Imperils Buyout: United Airlines’ pilots are having second thoughts about a proposed employee buyout because the parent’s stock is no longer valuable enough, the Air Line Pilots Assn. said in a recorded statement. The union noted that a clause in the agreement allows the unions to back out if UAL shares are trading below a specific price at the time the deal is to be closed. A Wall Street Journal article said the pilots want to change the terms of the buyout to reflect the stock’s decline, but UAL wants no change. The airline’s employees would get 53% of the company in exchange for concessions on wages and work rules and a financing package valued at $161 to $165 a share, the paper said. UAL closed at $117.75 a share on the NYSE, off $1.50