UAL Says Unrestricted Cash Around $2 Billion By End Of 4th Quarter

By: Associated Press
By: Associated Press

CHICAGO (AP) -- United Airlines' parent company says it expects its unrestricted cash to drop to $2 billion by the end of the quarter.

Chicago-based UAL Corp. ended September with about $2.93 billion in unrestricted cash. United lost money in the third quarter on high fuel prices.

United says it's taking steps to raise more money. But the company wouldn't detail its cash-raising plans, which it says are expected to wrap up in the first few months of 2009.

UAL also didn't predict a fourth-quarter profit or loss today. Analysts surveyed by Thomson Reuters expect the carrier to lose $3.27 per share.

United is the dominant carrier at Denver International Airport.

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