United Airlines (UAL) secured $5 billion for MilagePlus program – Idaho Reporter

UAL

United Airlines (UAL) secured $5 billion for MilagePlus program

The shares of United Airlines Holdings Inc (NASDAQ: UAL) are on a decline again, after a couple of negative reports and after our announcement that UAL will leave NASDAQ 100 club of companies.In pre-market on Monday UAL stock lost more than 8% of its value.

But all is not lost for UAL, at least if you are a MilagePlus member. According to United Airlines MileagePlus has more than 100 million members with over 100 program partners. And if you are one of those members there is a good news coming your way.

United airlines is ready to commit and it already secured $5 billion loan, provided by Goldman Sachs Lending Partners LLC, Barclays Bank PLC and Morgan Stanley Senior Funding, Inc.

The group of lenders mentioned above will arrange the syndication of, the MileagePlus financing through a term loan facility, which is expected to close, by the end of July 2020. Money will be used to operate and grow MilagePlus program.

Last year UAL announced that MileagePlus miles never expire and announced a partnership with CLEAR to offer free and discounted memberships to MileagePlus members.

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