View:
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported): November 27,
2007
UAL
CORPORATION
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-06033
|
36-2675207
|
|
(State
of Incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification Number)
|
77
W. Wacker Drive, Chicago, IL 60601
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (312)
997-8000
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
£
|
Written
communications pursuant to Rule 425 under the Securities
Act
|
|
£
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange
Act
|
|
£
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
|
|
£
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
|
Item
7.01 Regulation FD Disclosure.
On
November 27, 2007, UAL Corporation issued a press release announcing that it
is
seeking an amendment to its existing credit agreement. The press
release is furnished herewith as Exhibit 99.1 and is incorporated herein by
reference.
Item
9.01 Financial Statements and Exhibits.
Exhibit
No. Description
99.1 Press
Release issued by UAL Corporation dated November 27, 2007
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/
Frederic F.
Brace
Name:
Frederic F. Brace
Title: Executive
Vice
President and
Chief Financial Officer
Date:
November 27, 2007
EXHIBIT
INDEX
Exhibit
No. Description
99.1* Press
Release issued by UAL Corporation dated November 27, 2007
_________
*
Filed
herewith electronically.
Exhibit
99.1
United
Seeks Term Loan Amendment
CHICAGO
– Nov. 27, 2007– United Airlines (Nasdaq: UAUA) today announced that
it is pursuing an amendment to its existing credit agreement.
The
company is presenting the proposal to lenders today and expects a decision
later
next week. If approved, United will pay down $350 million of the term loan
under
the credit facility and will get the flexibility to implement up to $500
million
of shareholder initiatives. Timing and form of any shareholder initiative
ultimately will be determined by UAL’s board of directors.
The
amendment would also provide the company with flexibility for further
shareholder initiatives by making additional term loan
pre-payments.
In
the 20
months following its restructuring, United has reduced its total net debt
by
$2.7 billion, including a $1.6 billion reduction of on and off balance sheet
debt in the first three quarters of 2007. United has generated more than
$2
billion in operating cash flow in the first nine months of the
year.
About
United
United
Airlines (NASDAQ: UAUA) operates more than 3,600* flights a day on United,
United Express and Ted to more than 200 U.S. domestic and international
destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago
and
Washington, D.C. With key global air rights in the Asia-Pacific region,
Europe and Latin America, United is one of the largest international carriers
based in the United States. United also is a founding member of Star
Alliance, which provides connections for our customers to 855 destinations
in
155 countries worldwide. United's 55,000 employees reside in every U.S.
state and in many countries around the world. News releases and other
information about United can be found at the company's Web site at
united.com.
*Based
on
the flight schedule between Jan. 1, 2007 and Dec. 31, 2007.
The
information included in this press release contains certain statements that
are
“Forward-Looking Statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are subject to a number of
assumptions, risks and uncertainties related to the Company’s operations and the
business environment in which it operates. Actual results may differ materially
from any future results expressed or implied in such Forward-Looking Statements
due to numerous factors, many of which are beyond the Company’s control,
including factors set forth in the Company’s Form 10-K for 2006 and other
subsequent Company reports filed with the United States Securities and Exchange
Commission. Persons reviewing this press release are cautioned that the
Forward-Looking Statements speak only as of the date made and are not guarantees
of future performance. The Company undertakes no obligation to update any
Forward-Looking Statements.
#
#
#
The
United Building, 77 West Wacker Drive, Chicago, Illinois 60601