UAL Will Reduce Pay for Executives

UAL Corp.’s United Airlines said it will cut the salaries of executives and nonunion administrators to save $430 million over three years as the world’s second-largest carrier prepares to seek a government loan guarantee.

Chief Executive Jack Creighton will continue to forgo his salary.

The pay cuts will affect 11,100 employees, or about 13% of the company’s work force. UAL said if a “substantial number” of workers agree to concessions it will apply for a loan guarantee under a federal aid program set up last year after the Sept. 11 attacks.