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United to write off $264 million as Newark landing slots lose value

Customers of United wait in line to check in at Newark International airport in New Jersey, November 15, 2012.

United Continental Holdings Inc warned on Tuesday it expects to write off a quarter billion dollars in assets because a U.S. regulatory decision allowing more take-offs and landings in Newark, New Jersey, diminished the value of the airlines's slots there.

United will record a non-cash charge of $412 million in the second quarter, or $264 million after income taxes, associated with its slots at Newark Liberty International Airport, it...


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