Investor optimism sent shares in U-A-L Corporation up 33 percent
or 85 cents a share to three dollars, 41 cents in morning trading
on the New York Stock Exchange.
The tentative five-year agreement calls for an 18 percent pay
cut over the next two years along with unspecified changes in work
rules and job reductions.
Salaries would return to 2002 levels by 2008.
United is the largest carrier at Denver International Airport.
The airline has warned it may file for Chapter Eleven bankruptcy
court protection if it doesn't get an infusion of cash soon.
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