Ual Dip Targets

[hmflyer]

Does anyone know what financial targets UAL has to meet to keep its DIP financing. I remember seeing them in Aviation Week, and recall that they have to start showing some kind of cumulative profit soon. Thanks.

 

[FWAAA]

Here are the cumulative EBITDAR requirements:

February 28, 2003 $(964,000,000)
March 31, 2003 $(881,000,000)
April 30, 2003 $(849,000,000)
May 31, 2003 $(738,000,000)
June 30, 2003 $(585,000,000)
July 31, 2003 $(448,000,000)
August 31, 2003 $(219,000,000)
September 30, 2003 $(98,000,000)
October 31, 2003 $46,000,000
November 30, 2003 $112,000,000

Don't know by how much UAL has exceeded the targets in the prior months, but it might be tough turning the cumulative losses positive by 10/31/03.

So far, UAL has met each target.