N777UA
Topic Author
Posts: 566
Joined: Thu Mar 25, 2010 10:06 pm

United Close To Agreement On Tax Refund

Sat Mar 22, 2003 2:53 am

(Reuters) — An attorney for bankrupt United Airlines said on Friday the airline is close to an agreement with the federal government about overpayment and refund of taxes that should result in a $360-million refund soon.
United is still in discussions with the U.S. Department of Justice and the Internal Revenue Service but is "very close to a settlement" on the matter, attorney Marc Kieselstein said.

Kieselstein noted that receipt of the cash would be a huge benefit for the No. 2 U.S. airline given the current state of the industry amid the Iraq war.

United, a unit of UAL Corp., filed the largest-ever airline bankruptcy in December.
 
mattnrsa
Posts: 360
Joined: Tue Dec 10, 2002 12:27 pm

RE: United Close To Agreement On Tax Refund

Sat Mar 22, 2003 3:15 pm

Great news! This would definitely come at a crucial time for UA.