SECURITIES AND EXCHANGE COMMISSION
                          Washington, DC  20549
                                    
                                    
                                FORM 8-K
                                    
                                    
                             CURRENT REPORT


                 Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act of 1934


                   Date of Report:  September 16, 1996
                   -----------------------------------
                    (Date of earliest event reported)


                          UAL CORPORATION
                          ---------------
         (Exact name of registrant as specified in its charter)


        Delaware                 1-6033            36-2675207
        --------                 ------            ----------
(State or other jurisdiction   (Commission       (I.R.S. Employer
     of incorporation)         File Number)      Identification No.)


1200 Algonquin Road, Elk Grove Township, Illinois     60007
- -------------------------------------------------------------
 (Address of principal executive offices)           (Zip Code)


Registrant's telephone number, including area code  (847) 700-4000
                                                    --------------

                             Not Applicable
                             --------------
      (Former name or former address, if changed since last report)




ITEM 5.                 OTHER EVENTS.
- ------                  ------------

    UAL Corporation is filing herewith a cautionary statement for
purposes of the "Safe Harbor for Forward-Looking Statements"
provision of the Private Securities Litigation Reform Act of 1995
as Exhibit 99.1 which is incorporated herein by reference.



ITEM 7.                 FINANCIAL STATEMENTS AND EXHIBITS.
- ------                  ---------------------------------


Exhibit No.         Description
- ----------          -----------

   99.1             Cautionary Statement



                             SIGNATURES
                             ----------

        Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.



                                UAL CORPORATION



                                By:  /s/ Douglas A. Hacker
                                     ---------------------
                                Name:  Douglas A. Hacker
                                Title:  Senior Vice President and
                                        Chief Financial Officer



Dated:  September 13, 1996




                           EXHIBIT INDEX
                           -------------

Exhibit
Number          Description
- ------          -----------

 99.1           Cautionary Statement


                                            Exhibit 99.1

                                    
                          Cautionary Statement
                          --------------------          
                          
UAL Corporation ("UAL") and its representatives from time to time 
participate in speeches and calls with market analysts, conferences 
with investors and potential investors of UAL and United Air Lines, 
Inc. securities, and other meetings and conferences.

Some of the information presented in such speeches, calls, meetings 
and conferences may be forward-looking and involves risks and 
uncertainties that could result in actual results differing materially 
from expected results.  It is not reasonably possible to itemize all 
of the many factors and specific events that could affect the outlook 
of an airline operating in the global economy.  Some factors that 
could significantly impact expected capacity, load factors, yields,
revenues, expenses, cash flows, pre-tax margins, earnings, earnings 
per share and price to earnings ratios include the airline pricing
environment, willingness of customers to travel, fuel costs, low-
fare carrier expansion, capacity decisions of other carriers,
actions of the U.S. and foreign governments, foreign currency
exchange rate fluctuations, costs of security and safety
measures, the price of UAL common stock, inflation, the economic
environment of the airline industry and the general economic
environment.