United Airlines extends bank card contract:

07/23/2008 | Wall Street Journal, The

United Airlines has reached an agreement with JPMorgan to extend its Mileage Plus bank card partnership. Under the terms of the agreement, United will receive $600 million and will reduce its required reserves to $25 million. The airline expects to increase its cash position to $1.2 billion from the new terms of the bank-card agreement.

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