United to write off $264m as Newark landing slots lose value
United expects to write off a quarter billion dollars in assets because a decision by US regulators to allow more take-offs and landings in Newark, New Jersey, has diminished the value of United's slots there, the airline said Tuesday. United said it will record a non-cash charge of $412m in Q2, or $264m after income taxes, associated with its slots at Newark Liberty International. The charge follows a recent decision by the FAA to allow more flights to take off and land at Newark because airport congestion had eased. <br/>
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United to write off $264m as Newark landing slots lose value
United expects to write off a quarter billion dollars in assets because a decision by US regulators to allow more take-offs and landings in Newark, New Jersey, has diminished the value of United's slots there, the airline said Tuesday. United said it will record a non-cash charge of $412m in Q2, or $264m after income taxes, associated with its slots at Newark Liberty International. The charge follows a recent decision by the FAA to allow more flights to take off and land at Newark because airport congestion had eased. <br/>
