Ick...
I remember when the brain-trust that was the Leo Mullin administration did this....
I remember when the brain-trust that was the Leo Mullin administration did this....
* UAL adds $150 mln in cash to balance sheet
* Has now raised most of $300 mln expected in Q4
NEW YORK, Dec 9 (Reuters) - UAL Corp (UAUA.O: Quote, Profile, Research, Stock Buzz), parent of United Airlines, said on Tuesday it sold 15 Boeing (BA.N: Quote, Profile, Research, Stock Buzz) 757 aircraft and arranged to lease them back in a deal which adds about $150 million of cash to the company's balance sheet.
UAL sold the single-aisle planes to East Shore Aircraft, but will continue to operate and maintain the aircraft as normal.
United, the U.S. No. 3 airline, has now raised more than $250 million of the $300 million of additional liquidity it said it expected to raise in the current quarter, on top of the nearly $1.4 billion raised in the third quarter.
Airlines such as United are looking for ways to add cash to their balance sheets to protect them from volatile oil prices and a steep drop in travel demand expected next year. (Reporting by Bill Rigby; editing by Richard Chang)