United Airlines expects a decision next week on a proposal presented to lenders yesterday under which it would pay down $350 million of the term loan on its existing credit agreement and "get the flexibility to implement up to $500 million of shareholder initiatives." The proposed amendment also would allow for future term loan pre-payments. UA said it has reduced its total net debt by $2.7 billion in the past 20 months, including $1.6 billion this year.

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