(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.