United Airlines and Chase renew agreement

Wednesday, July 23, 2008; Posted: 06:33 AM

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Jul 23, 2008 (AIRLINE INDUSTRY INFORMATION via COMTEX) -- UAUA | Quote | Chart | News | PowerRating -- United Airlines (NASDAQ:UAUA) and JPMorgan Chase & Co (NYSE:JPM) have announced an agreement in principle to renew their Mileage Plan co-branded credit card programme.

United Airlines has stated that it will be receiving a payment for the advance purchase of frequent flyer miles from Chase of USD600m and expects to improve cash flow by approximately USD200m through the agreement in the following two years.

The agreement also involves Paymentech, one of Chase's credit card processors.

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For full details on JPMorgan Chase & Co (JPM) click here. JPMorgan Chase & Co (JPM) has Short Term PowerRatings of 4. Details on JPMorgan Chase & Co (JPM) Short Term PowerRatings is available at This Link.

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