CHICAGO — United Airlines took on $3 billion in new debt yesterday that keeps it on track to exit Chapter 11 bankruptcy in February after a more than three-year restructuring.

UAL Corp., United's holding company, said the financing package is led by JPMorgan Chase & Co. and Citigroup Inc. and is to be repaid after six years.

The financing commitments, first disclosed in August, would enable UAL to pay off a $1.3 billion interim financing loan and provide post-bankruptcy operating cash.

The Elk Grove Village, Ill.-based company called the terms "very competitive."

The nation's second-largest airline has been in bankruptcy since December 2002.