United to start payment on $500m bill to PBGC

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US - United Continental will have to make the first of eight $62.5m payments to the Pension Benefit Guaranty Corporation, which stem from United Airlines' bankruptcy protection deal, by 14 February.

United, which emerged from bankruptcy in 2006, terminated its pensions in 2005 and handed them over to the PBGC. It agreement with the PBGC states the firm had to repay $500m to the country's pe...

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