United Airlines gets $5B loan secured by its frequent-flyer program

United Airlines Holdings Inc. (Nasdaq: UAL) said it’s getting a $5 billion loan that will be secured by its MileagePlus frequent-flyer program.

By the end of the third quarter of this year, United said it expects to have approximately $17 billion of available liquidity, which includes liquidity available under the company’s $2 billion revolving credit facility, $5 billion of committed financing to be secured by the company’s MileagePlus loyalty program, as well as $4.5 billion expected to be…