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Business Briefing / AIRLINES

UAL to write off all its 'goodwill'

July 12, 2008|From Times Wire Services

United Airlines parent UAL Corp. said it would record $2.6 billion to $2.7 billion in accounting charges in the second quarter, according to a regulatory filing.

The largest chunk is a noncash impairment charge of $2.2 billion to $2.3 billion. The filing said UAL was writing off the "entire value of goodwill on its books." Officials were unavailable to elaborate.

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