General Electric Co

A federal bankruptcy judge said he would allow General Electric Co. to provide $36.6 million to US Airways Group Inc. in a modification of a 2001 credit agreement. The advance, approved by Judge Stephen Mitchell of the U.S. Bankruptcy Court for the Eastern District of Virginia in Alexandria, is part of a proposal under which GE would acquire a 5% stake in a reorganized US Airways in return for loan concessions.

General Electric Co. and its unions say their proposed new contracts would increase wages by 16.5% for the average hourly employee over four years. Negotiators reached the tentative contract agreements Sunday, but only now disclosed the details. The conference boards of the two largest unions already have recommended ratification. Shares fell 87 cents to $29.86 on the NYSE.

GE Unlikely to Accept Minority Role: Sources familiar with recent conversations between Turner Broadcasting System and NBC said they believe that NBC's parent corporation will demand at least 51% control of the resulting company if Turner and NBC combine in a merger. The Wall Street Journal reported that Turner is "pressing forward" with a proposal to give General Electric Co. a 35% stake.

General Electric Co. said it was studying a possible deal with Spanish real estate firm Colonial. "To date, no decision has been made," Fairfield, Conn.-based GE said. GE, which already owns 1 billion euros, or $1.47 billion, worth of Spanish property assets, said it would need to study financial, legal and fiscal data regarding financially struggling Colonial.