Document


 

UNITED STATES
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 (Date of earliest event reported): January 9, 2019

UNITED CONTINENTAL HOLDINGS, INC.
UNITED AIRLINES, INC.

(Exact name of registrant as specified in its charter)

Delaware
 
001-06033
 
36-2675207
Delaware
 
001-10323
 
74-2099724
(State or other jurisdiction
 
(Commission File Number)
 
(IRS Employer
of incorporation)
 
 
 
Identification Number)

233 S. Wacker Drive, Chicago, IL
 
60606
233 S. Wacker Drive, Chicago, IL
 
60606
(Address of principal executive offices)
 
(Zip Code)

(872) 825-4000
(872) 825-4000
 
Registrant’s telephone number, including area code

(Former name or former address, if changed since last report.)

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 (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
 





Item 7.01
Regulation FD Disclosure.
 
 
On January 9, 2019, United Airlines, Inc., a wholly owned subsidiary of United Continental Holdings, Inc., issued a press release reporting its December 2018 operational results. The press release is attached as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

 
 
Item 9.01
Financial Statements and Exhibits.
 
 
Exhibit No.
Description
99.1





SIGNATURES

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

UNITED CONTINENTAL HOLDINGS, INC.
UNITED AIRLINES, INC.
 
 
 
 
By:
/s/ Chris Kenny
Name:
Chris Kenny
Title:
Vice President and Controller


Date: January 9, 2019



Exhibit
Exhibit 99.1
News Release
 
United Airlines
Worldwide Media Relations
872.825.8640
media.relations@united.com
 
http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=12634091&doc=3


United Reports December 2018
Operational Performance

CHICAGO, Jan. 9, 2019- United Airlines (UAL) today reported December 2018 operational results.
UAL’s December 2018 consolidated traffic (revenue passenger miles) increased 6.9 percent and consolidated capacity (available seat miles) increased 6.4 percent versus December 2017. UAL’s December 2018 consolidated load factor increased 0.4 points compared to December 2017.
December Highlights
Announced UAL's largest ever international network expansion from San Francisco International Airport by offering nonstop year-round service to Toronto and Melbourne, Australia, seasonal service to New Delhi and a second daily flight between San Francisco and Seoul, South Korea - all subject to government approvals. In addition to the new routes, UAL will begin new year-round nonstop service between San Francisco and each of Auckland, New Zealand, Tahiti, French Polynesia and Amsterdam.
Announced the addition of 11 new routes from UAL's hubs in Chicago, Houston, Los Angeles and Washington, D.C. The company’s new summer service, beginning in June 2019, will connect customers to popular summer vacation destinations in California, Colorado, Florida, Oregon, Michigan and Nova Scotia.
MileagePlus loyalty program was voted Best Overall Frequent-Flyer Program in the world for the 15th consecutive year by readers of Global Traveler and was awarded the 2018 Frequent Traveler Titan Award for the Americas. 
About United
United Airlines and United Express operate approximately 4,800 flights a day to 353 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, Newark/New York, San Francisco and Washington, D.C. United operates 770 mainline aircraft and the airline's United Express carriers operate 559 regional aircraft. The airline is a founding member of Star Alliance, which provides service to 193 countries via 28 member airlines. For more information, visit united.com, follow @United on Twitter or connect on Facebook. The common stock of United's parent, United Continental Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".



United Reports December 2018 Operational Performance / Page 2

Preliminary Operational Results
 
 
December
 
Year-to-Date
 
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
REVENUE PASSENGER MILES (000)
 
 
 
 
 
 
 
 
 
 
 
Domestic
11,058,944

 
10,479,105

 
5.5
%
 
132,954,893

 
124,267,502

 
7.0
%
 
Mainline
8,982,444

 
8,578,667

 
4.7
%
 
108,634,884

 
102,312,669

 
6.2
%
 
Regional
2,076,500

 
1,900,438

 
9.3
%
 
24,320,009

 
21,954,833

 
10.8
%
 
International
8,270,205

 
7,596,002

 
8.9
%
 
97,199,892

 
91,992,999

 
5.7
%
 
Atlantic
2,986,741

 
2,645,206

 
12.9
%
 
40,610,724

 
36,220,795

 
12.1
%
 
Pacific
3,108,677

 
2,880,088

 
7.9
%
 
34,414,147

 
33,890,639

 
1.5
%
 
Latin
2,174,787

 
2,070,708

 
5.0
%
 
22,175,021

 
21,881,565

 
1.3
%
 
Mainline
2,085,568

 
1,987,076

 
5.0
%
 
21,255,941

 
21,019,723

 
1.1
%
 
Regional
89,219

 
83,632

 
6.7
%
 
919,080

 
861,842

 
6.6
%
 
Consolidated
19,329,149

 
18,075,107

 
6.9
%
 
230,154,785

 
216,260,501

 
6.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
AVAILABLE SEAT MILES (000)
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
13,295,896

 
12,476,108

 
6.6
%
 
155,637,292

 
145,848,600

 
6.7
%
 
Mainline
10,757,911

 
10,173,407

 
5.7
%
 
126,385,402

 
119,208,926

 
6.0
%
 
Regional
2,537,985

 
2,302,701

 
10.2
%
 
29,251,890

 
26,639,674

 
9.8
%
 
International
10,076,215

 
9,486,777

 
6.2
%
 
119,624,405

 
116,537,327

 
2.6
%
 
Atlantic
3,671,224

 
3,343,547

 
9.8
%
 
49,721,287

 
47,297,821

 
5.1
%
 
Pacific
3,835,983

 
3,660,168

 
4.8
%
 
43,406,455

 
42,831,318

 
1.3
%
 
Latin
2,569,008

 
2,483,062

 
3.5
%
 
26,496,663

 
26,408,188

 
0.3
%
 
Mainline
2,457,018

 
2,376,570

 
3.4
%
 
25,279,532

 
25,238,343

 
0.2
%
 
Regional
111,990

 
106,492

 
5.2
%
 
1,217,131

 
1,169,845

 
4.0
%
 
Consolidated
23,372,111

 
21,962,885

 
6.4
%
 
275,261,697

 
262,385,927

 
4.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
PASSENGER LOAD FACTOR
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
83.2
%
 
84.0
%
 
(0.8) pts

 
85.4
%
 
85.2
%
 
0.2 pts

 
Mainline
83.5
%
 
84.3
%
 
(0.8) pts

 
86.0
%
 
85.8
%
 
0.2 pts

 
Regional
81.8
%
 
82.5
%
 
(0.7) pts

 
83.1
%
 
82.4
%
 
0.7 pts

 
International
82.1
%
 
80.1
%
 
2.0 pts

 
81.3
%
 
78.9
%
 
2.4 pts

 
Atlantic
81.4
%
 
79.1
%
 
2.3 pts

 
81.7
%
 
76.6
%
 
5.1 pts

 
Pacific
81.0
%
 
78.7
%
 
2.3 pts

 
79.3
%
 
79.1
%
 
0.2 pts

 
Latin
84.7
%
 
83.4
%
 
1.3 pts

 
83.7
%
 
82.9
%
 
0.8 pts

 
Mainline
84.9
%
 
83.6
%
 
1.3 pts

 
84.1
%
 
83.3
%
 
0.8 pts

 
Regional
79.7
%
 
78.5
%
 
1.2 pts

 
75.5
%
 
73.7
%
 
1.8 pts

 
Consolidated
82.7
%
 
82.3
%
 
0.4 pts

 
83.6
%
 
82.4
%
 
1.2 pts

 
 
 
 
 
 
 
 
 
 
 
 
 
ONBOARD PASSENGERS (000)
 
 
 
 
 
 
 
 
 
 
 
 
Mainline
9,448

 
9,006

 
4.9
%
 
113,885

 
108,017

 
5.4
%
 
Regional
3,744

 
3,436

 
9.0
%
 
44,445

 
40,050

 
11.0
%
 
Consolidated
13,192

 
12,442

 
6.0
%
 
158,330

 
148,067

 
6.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
CARGO REVENUE TON MILES (000)
 
 
 
 
 
 
 
 
 
 
 
Total
302,575

 
301,330

 
0.4
%
 
3,424,625

 
3,315,902

 
3.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
OPERATIONAL PERFORMANCE
 
 
 
 
 
 
 
 
 
 
 
 
Mainline Departure Performance1
67.5
%
 
69.1
%
 
(1.6) pts

 
 
 
 
 
 
 
Mainline Completion Factor
99.8
%
 
99.8
%
 
0.0 pts

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1Based on mainline scheduled flights departing by or before scheduled departure time
Note: See Part II, Item 6, Selected Financial Data, of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 for the definitions of these statistics




United Reports December 2018 Operational Performance / Page 3



Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as “expects,” “will,” “plans,” “anticipates,” “indicates,” “believes,” “estimates,” “forecast,” “guidance,” “outlook,” “goals” and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: general economic conditions (including interest rates, foreign currency exchange rates, investment or credit market conditions, crude oil prices, costs of aircraft fuel and energy refining capacity in relevant markets); economic and political instability and other risks of doing business globally, including political developments that may impact our operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; competitive pressures on pricing and on demand; demand for transportation in the markets in which we operate; our capacity decisions and the capacity decisions of our competitors; the effects of any hostilities, act of war or terrorist attack; the effects of any technology failures or cybersecurity breaches; the impact of regulatory, investigative and legal proceedings and legal compliance risks; disruptions to our regional network; the ability of other air carriers with whom we have alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; costs associated with any modification or termination of our aircraft orders; potential reputational or other impact from adverse events in our operations, the operations of our regional carriers, the operations of our code share partners or the aircraft operated by another airline of the same model as operated by us, our regional carriers or our code share partners; our ability to attract and retain customers; our ability to execute our operational plans and revenue-generating initiatives, including optimizing our revenue; our ability to control our costs, including realizing benefits from our resource optimization efforts, cost reduction initiatives and fleet replacement programs; the impact of any management changes; our ability to cost-effectively hedge against increases in the price of aircraft fuel if we decide to do so; any potential realized or unrealized gains or losses related to any fuel or currency hedging programs; labor costs; our ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; an outbreak of a disease that affects travel demand or travel behavior; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements and environmental regulations); industry consolidation or changes in airline alliances; our ability to comply with the terms of our various financing arrangements; the costs and availability of financing; our ability to maintain adequate liquidity; the costs and availability of aviation and other insurance; weather conditions; our ability to utilize our net operating losses to offset future taxable income; the impact of changes in tax laws; the success of our investments in airlines in other parts of the world; and other risks and uncertainties set forth under Part I, Item 1A., “Risk Factors,” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as well as other risks and uncertainties set forth from time to time in the reports we file with the U.S. Securities and Exchange Commission.

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