The company received $33 billion in debtor-in-possession financing to complete the process.

The money, known as a debtor-in-possession financing, will provide capital to cover employees' salaries and other business functions.

Those lenders agreed to give United $1.5 billion in debtor-in-possession financing.

This arrangement, known as debtor-in-possession financing, gives the lenders first claim on a company's assets.

Either way, the airline plans to use the cash generated as the equivalent of debtor-in-possession financing, these people said.

The plan, along with $75 million of debtor-in-possession financing was approved in November 2010.

Under the deal, United would receive $1.5 billion of debtor-in-possession financing while it reorganizes.

United has been working to line up debtor-in-possession financing from investment banks.

The proposed package of $150 million, known as debtor-in-possession financing, may leave little room for error.

According to the bankers, American is looking to put together more than $1.5 billion in debtor-in-possession financing, which would allow it to maintain its operations.