United Sets $3 Billion Buyback as Airlines Speed Repurchases
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United Continental Holdings Inc. joined its largest U.S. airline peers in planning to repurchase stock, using a record $3 billion buyback to compensate investors for a slumping share price.
The new program will be completed by the end of 2017, United said Thursday, minutes after Southwest Airlines Co. announced it would speed up the purchase of $500 million in stock under a $1.5 billion effort authorized in May.