Play all audios:
UAL Corp. selects Nasdaq for new listing United Airlines’ parent company UAL Corp. said Tuesday it will list its new stock on the Nasdaq stock exchange when it emerges from Chapter 11
bankruptcy protection in early February. Under its plan of reorganization, approved by the U.S. Bankruptcy Court last week, UAL will begin to issue up to 125 million shares of common
stock, most of which will go to the company’s former unsecured creditors. UAL will trade under the ticker symbol “UAUA.” “United has made fundamental and sustainable improvements in
our operations, cost structure and revenue strategy. We are already competing successfully with the other leading carriers, and will strengthen that position through continuing operational
improvements and differentiation based on customer needs in the marketplace,” said Glenn Tilton, United’s chairman, chief executive officer and president. “As we look to our future as a
publicly traded company, we concluded that Nasdaq, with its cadre of dynamic companies, state-of-the-art electronic trading platform and focus on first-rate customer service, was a natural
fit for us,” Tilton said.