UAL Corporation (UAUA) Extends Agreements with Two Key Partners
UAL Corporation (NASDAQ: UAUA), a holding company whose primary subsidiary is United Airlines, announced that they have reached an agreement in principle that will extend the term of their respective agreements with their Mileage Plus co-branded bank card partner, Chase Bank U.S.A., N.A. (Chase), and Paymentech, one of their credit card processors. At the closing of Tuesday's public trading, the company's stock rose 68.54%. To be included in the transaction, United will receive a payment of $600 million from Chase, which relates to the advance purchase of frequent flyer miles and the extension of the contract. The company anticipates that…