United Continental announces new $3B share repurchase program
United Airlines announced that the Board of Directors of its parent company, United Continental Holdings, authorized a new $3B share repurchase program. This amount represents approximately 17% of the company's market capitalization based on the closing stock price on Dec. 6, 2017. The company is expected to complete its most recently authorized July 2016 $2B share repurchase program by the end of December 2017. The company's share repurchases under today's $3B repurchase authorization will be made in accordance with applicable securities laws in open market, or accelerated repurchase transactions from time to time, depending on market conditions, and may be discontinued at any time. There is no expiration date for the share repurchase program.