View:
Download DOC
Download PDF
Download XLS
SECURITIES AND EXCHANGE COMMISSION  

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:  June 27, 2003
(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 of incorporation)
(Commission
  File Number)
(I.R.S. Employer
   Identification No.)

 

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


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


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







Item 5.            Other Events

UAL Corporation filed its monthly operating report for the period May 1, 2003, through May 31, 2003, with the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division, a copy of which is attached hereto as Exhibit 99.1, in connection with its voluntary petitions for reorganization under Chapter 11 of Title 11 of the United States Bankruptcy Code in Case Nos. 02-48191 through 02-48218.

We have also attached as Exhibit 99.2 a press release issued in connection with the filing of the Monthly Operating Report.
 
 

Item 7.             Financial Statements and Exhibits.

(c) Exhibits          Description

        99.1            Monthly Operating Report of UAL Corporation for the period May 1, 2003, through May 31, 2003

        99.2            Press Release
 
 

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

 
 

Dated:  June 27, 2003

IN RE:                                                                                                                                                                           &nb sp;      Exhibit 99.1
IN RE:
CHAPTER 11
UAL CORPORATION, ET AL.
CASE NUMBERS : 02-48191 through 02-48218
DEBTORS
Jointly Administered
Hon. Eugene R. Wedoff
MONTHLY OPERATING REPORT FOR THE PERIOD
APRIL 1, 2003 THROUGH APRIL 30, 2003 1
1 The information contained in the Debtors' monthly operating report (the "MOR") is unaudited, is limited to the Debtors and their filing 
subsidiaries, is limited to the time period indicated and is presented in a format prescribed by the bankruptcy court. The MOR does not 
purport to represent financial statements prepared in accordance with GAAP nor is it intended to fully reconcile to the financial statements 
filed by UAL Corporation or United Air Lines, Inc. with the Securities and Exchange Commission. Additionally, while every effort has been 
made to assure its accuracy and completeness, errors or omissions may have inadvertently occurred and the Debtors reserve the right to 
amend their MOR as necessary.
IN RE:
CHAPTER 11
UAL CORPORATION ET AL.
CASE NUMBERS : 02-48191 through 02-48218
DEBTORS
Jointly Administered
Hon. Eugene R. Wedoff
MONTHLY OPERATING REPORT FOR THE PERIOD
APRIL 1, 2003 THROUGH APRIL 30, 2003
DEBTOR'S ADDRESS: UAL Corporation
1200 East Algonquin Road
Elk Grove Township, IL 60007
DEBTOR'S ATTORNEYS: James H. M. Sprayregen, P.C. (ARDC No. 6190206)
Marc Kieselstein (ARDC No. 6199255)
David R. Seligman (ARDC No. 0238064)
Steven R. Kotarba (ARDC No. 6245278)
KIRKLAND & ELLIS
200 East Randolph Street
Chicago, IL 60601
(312) 861-2000 (telephone)
(312) 861-2200 (facsimile)
Counsel for the Debtors and Debtors In Possession
REPORT PREPARER: UAL Corporation et al
I declare under penalty of perjury that the information contained in this monthly operating report
(including attached schedules) is true and correct to the best of my knowledge, information and belief.
Dated: 5/28/03 DEBTOR-IN-POSSESSION
Print Name/Title:
Signature:
Address: 1200 East Algonquin Road
Elk Grove Township, IL 60007
Phone: 
I. Table of Contents
II. UAL Corporation, et al. Unaudited Financial Statements 
A. Condensed Consolidating Statement of Operations (Discloses only filing entities)
B. Statements of Consolidated Financial Position (Form 10Q to be filed by August 15, 2003)
C. Statements of Consolidated Cash Flows (Form 10Q to be filed by August 15, 2003)
III. Summary of Cash Receipts and Cash Disbursements
A. Unaudited Consolidated Receipt Summary
B. Unaudited Disbursements by Legal Filing Entity and Summary
IV.  Additional Schedules
A. Insurance - - Certifications
B. Payments to Insiders - Certification
C. Description of Tax Trusts / Escrows
D. Payments to Secured Creditors and Lessors
E. Professional Fee Payments
F. Accounts Receivable Schedule and Accounts Payable Schedule
G. Bank Accounts and Financial Institution Relationships
V. Tax Questionnaire
UAL Corporation, et al. -Filing Entities
Legal Filing Entity
Reporting Structure
1
 UAL Corporation
X-1
2
 United Air Lines, Inc.
X-1
3
 UAL Company Services, Inc.
X-1
4
 UAL Loyalty Services, Inc.
X-1
5
 Confetti Inc.
X-4
6
 Mileage Plus Holdings, Inc.
X-4
7
 Mileage Plus Marketing, Inc.
X-6
8
 MyPoints.com, Inc.
X-4
9
 Cybergold, Inc.
X-8
10
 iTarget.com, Inc.
X-8
11
 MyPoints Offline Services, Inc.
X-8
12
 UAL Benefits Management Inc.
X-1
13
 United BizJet Holdings, Inc.
X-1
14
 BizJet Charter, Inc.
X-13
15
 BizJet Fractional, Inc.
X-13
16
 BizJet Services, Inc.
X-13
17
 Kion Leasing, Inc.
X-2
18
 Premier Meeting and Travel Services, Inc.
X-2
19
 United Aviation Fuels Corporation
X-2
20
 United Cogen, Inc.
X-2
21
 Mileage Plus, Inc.
X-2
22
 United GHS, Inc.
X-2
23
 United Worldwide Corporation
X-2
24
 United Vacations, Inc.
X-2
25
 Four Star Leasing, Inc.
X-1
26
 Air Wis Services, Inc.
X-1
27
 Air Wisconsin, Inc.
X-26
28
 Domicile Management Services, Inc.
X-26
UAL CORPORATION AND SUBSIDIARY COMPANIES (filing entities only)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE MONTH ENDED APRIL 30, 2003
($ amounts in 000's)
UAL
CONSOLIDATING
Total operating revenues
1,037,549 
Total operating expenses
1,334,362 
Earnings (loss) from operations
(296,813)
Non-operating income (expenses):
Net interest expense
(42,002)
Reorganization items
(26,848)
Other income (expenses), net:
(9,221)
Special charges
- 
Total non-operating income (expenses):
(78,071)
Earnings (loss) before income taxes
(374,884)
Total tax provision (credit)
- 
Net earnings (loss)
(374,884)
CASE NAME: UAL Corporation et al. CASE NUMBERS : 02-48191 through 02-48218
Filed Entities of UAL Corporation 1
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS 
For The Period Ending APRIL 30, 2003
(Amounts in US dollar $)
BEGINNING BALANCE (ending balance February 28th 2003) 
Operating Accounts - DOM
$22,417,105 
Operating Accounts - INT 
$15,344,494 
London Overnight Investment Balance 2
$2,371,050 
Liquidity Pool
$851,462,786 
Restricted Cash 3
$633,027,806 
Subsidiaries:
a. Mileage Plus, Inc.
$395,654 
b. Premier Meeting and Travel Services, Inc.
$589,214 
c. MyPoints.com, Inc.
$22,934,091 
d. Domicile Management Services, Inc.
$232,641 
e. UAL Loyalty Services, Inc.
$1,654,810 
f. United Aviation Fuel Corporation
$1,057,766 
TOTAL BEGINNING BALANCE 
$1,551,487,418 
RECEIPTS (Summary of all domestic and international bank accounts):
1. Receipts from operations (net of Intercompany receipts)
$1,180,932,408 
2. Debtor -In-Possession Financing
$0 
3. Other receipts
$384,161,316 
TOTAL RECEIPTS (A)
$1,565,093,724 
DISBURSEMENTS (Summary of all accounts):
1. Net payroll 4
a. Officers
$661,841 
b. Non-Officer 
$257,113,167 
2. Taxes paid or deposited:
a. Federal Income Tax and FICA withholdings
$111,378,268 
b. State income tax w/held
$14,232,256 
c. State sales or use tax
$177,856 
d. Other 5
$100,882,961 
3. Necessary Operational Disbursements6
a. Operating Disbursements (net of Intercompany disbursements)
$932,824,067 
b. Transferred to escrows / restricted cash
- 
c. Other necessary expenses
$0 
TOTAL DISBURSEMENTS  (B)
$1,417,270,415 
NET RECEIPTS (Line (A) less Line (B))
$147,823,310 
ENDING BALANCE (BEGINNING BALANCE PLUS NET RECEIPTS)
$1,699,310,728 
Bank One Overnight Investment Account (month over month change) 7
$4,751,989 
TOTAL ENDING BALANCE8
$1,704,062,717 
Check
ENDING BALANCE (as of March 31st)
Operating Accounts - DOM
$20,223,061 
Operating Accounts - INT
$15,903,768 
London Overnight Investment
$2,794,225 
Liquidity Pool
$988,372,161 
Restricted Cash 3
$650,957,662 
Subsidiaries:
Mileage Plus, Inc.
$238,807 
Premier Meeting and Travel Services, Inc.
$505,209 
MyPoints.com, Inc.
$22,374,519 
Domicile Management Services, Inc.
$199,477 
UAL Loyalty Services, Inc.
$909,779 
United Aviation Fuel Corporation
$1,584,048 
TOTAL ENDING BALANCE
$1,704,062,717 
1 See Page 4 for a list of the 28 filing entities.
2 Adjustment to London Overnight Investment Balance 
March 31st ending balance
$948,947 
Add: Change in balance due to foreign exchange rate adjustment 
$1,422,103 
April 1st beginning balance ( 1,500,000 GBP * 1.5807 US/GBP)
$2,371,050 
3 Restricted cash does not include $200 million held in a Tax Trust Escrow nor restricted cash amounts associated with any
non-filing entities. See Schedule C of this report for a description of the Tax Trust Escrow.
4 Includes information for domestic entities only.
5 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
6 Includes certain aircraft financing payments for the month of April (2003). These payments are highlighted in Schedule D of this report.
7 Account used to invest excess funds on a daily basis that are not transferred to liquidity pool.
8 Ending cash balance does not include $200 million held in a Tax Trust Escrow. See Schedule C of this report for a description of
the Tax Trust Escrow.
BANK
ENTITY: RECEIPT SUMMARY 1 ACCTS: See Schedule F for list of bank accounts
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
1,287,027,702 
Domestic Operational Receipts
NON BANK ONE / JP MORGAN CHASE ACTIVITY
4,206,399 
International Operational Receipts 2
BEG BALANCE (LESS) ENDING BALANCE 
36,855,644 
PLUS NET REPATRIATION
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
1,328,089,745 
 ( A )
Debtor-In-Possession Financing
0 
 ( B )
Other Non-Operational Receipts 3
SEE FOOTNOTE BELOW
384,161,316 
 ( C )
Less, Non-filing entities
NONE FOR THIS PERIOD
0 
GROSS RECEIPTS (tie to bank statements)
1,712,251,061 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
147,157,337 
 ( D )
NET RECEIPTS
$1,565,093,724 
Forward to MOR Summary:
Receipts from operations (net of Intercompany receipts)
1,180,932,408 
 (A-D )
Debtor - -In-Possession Financing
0 
 ( B )
Other receipts
384,161,316 
 ( C )
$1,565,093,724 
1 Includes receipt activity for United Airline's Liquidity Pool and the following subsidiaries: MyPoints.com, Inc., Premier Meeting & Travel 
Services, Inc., Mileage Plus, Inc., United Aviation Fuels Corporation, UAL Loyalty Services, Inc. and Domicile Management Services, Inc.
2 Accounts for net repatriation to the liquidity pool in the amount of $36,021,871.
3 Includes net activity related to the London overnight investment account, interest income, aircraft sales, local station bank activity,
a refund of Debtor-In-Possession underwriting fees and transfers to restricted cash.

 
BANK
ENTITY: LIQUIDITY POOL ACCTS: Bank One Acct. #51-67795
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
1,096,928,966 
Domestic Operational Receipts
NON BANK ONE / JP MORGAN CHASE ACTIVITY
- 
- 
- 
- 
Total Non-Bank One Receipts
- 
International Operational Receipts 1
BEG BALANCE (LESS) ENDING BALANCE 
$36,581,145 
PLUS NET REPATRIATION
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
1,133,510,112 
Debtor-In-Possession Financing
- 
Other Non-Operational Receipts 2
SEE FOOTNOTE BELOW
$384,128,293 
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS 
1,517,638,404 
UAL
- 
UAL Loyalty Services, Inc.
200,000 
UAL Company Services, Inc.
- 
Confetti Inc.
- 
MyPoints.com, Inc.
1,758,648 
Cybergold, Inc.
- 
iTarget.com, Inc.
- 
MyPoints Offline Services, Inc.
- 
UAL Benefits Management, Inc.
- 
United BizJet Holdings, Inc.
- 
United BizJet Charter, Inc.
- 
United BizJet Fractional, Inc.
- 
United BizJet Services, Inc.
- 
Kion Leasing, Inc.
- 
Premier Meeting and Travel Services, Inc.
61,030 
United Aviation Fuels Corporation 
43,730,000 
United Cogen, Inc.
- 
Mileage Plus, Inc.
4,377 
United GHS, Inc.
- 
United Worldwide Corporation
- 
United Vacations, Inc.
- 
Four Star Leasing, Inc.
- 
Air Wisconsin Services, Inc.
- 
Air Wisconsin , Inc.
- 
Domicile Management Services, Inc.
- 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
45,754,055 
NET RECEIPTS
$1,471,884,350 
1 Includes receipt activity for all filing entities of UAL Corporation (refer to page 4) except those receipts collected by MyPoints.com, Inc., Premier Meeting 
& Travel Services, Inc. Mileage Plus, Inc., United Aviation Fuels Corporation, UAL Loyalty Services, Inc. and Domicile Management Services, Inc. in 
operating bank accounts outside of the Liquidity Pool.
2 Includes net activity related to the London overnight investment account, interest income, aircraft sales, local station bank activity,
transfers to restricted cash, and an IRS refund of approximately $365 million.
Fleet Bank # 55157711
Wells Fargo #449-6837055, 10765100
MYPOINTS.COM, INC.  BANK Silicon Valley Bank #3300066117, 3300042163
ENTITY: AND SUBSIDIARIES 1 ACCTS: Silicon Valley Bank #3700276606
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
- 
Domestic Operational Receipts
NON BANK ONE / JP MORGAN CHASE ACTIVITY (see above for accounts)
2,606,399 
- 
- 
- 
Total Non-Bank One Receipts
2,606,399 
International Operational Receipts 
BEG BALANCE (LESS) ENDING BALANCE
- 
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
2,606,399 
Other Non-Operational Receipts
INCLUDES INTEREST INCOME, PROCEEDS OF ASSET SALES, etc.
17,341 
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS (tie to bank statement)
2,623,740 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
- 
NET RECEIPTS
$2,623,740 
BANK STATEMENT RECONCILIATION:
Beginning Balance
$22,934,091 
Receipts
2,623,740 
Disbursments
(3,183,312)
Reconciled Ending Balance
$22,374,519 
Reported Ending Balance
$22,374,519 
Difference
$0 
1 Includes receipt activity for Cybergold, Inc., iTarget.com, Inc., MyPoints Offline Services, Inc.
PREMIER MEETING & TRAVEL  BANK
ENTITY: SERVICES, INC. ACCTS: Bank One 55-78531
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
276,644 
Domestic Operational Receipts
NON BANK ONE / JP MORGAN CHASE ACTIVITY
- 
- 
- 
- 
Total Non-Bank One Receipts
- 
International Operational Receipts 
BEG BALANCE (LESS) ENDING BALANCE
- 
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
276,644 
Other Non-Operational Receipts
INCLUDES INTEREST INCOME, PROCEEDS OF ASSET SALES, etc.
465 
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS (tie to bank statement)
277,110 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
- 
NET RECEIPTS
$277,110 
BANK STATEMENT RECONCILIATION:
Beginning Balance
$589,214 
Receipts
277,110 
Disbursments
(361,115)
Reconciled Ending Balance
$505,209 
Reported Ending Balance
$505,209 
Difference
$0 

 
BANK
ENTITY: MILEAGE PLUS, INC. ACCTS: SHORE BANK #17331100/17331200/17511000
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
- 
Domestic Operational Receipts 
SHORE BANK
1,600,000 
- 
- 
- 
Total Non-Bank One Receipts
1,600,000 
International Operational Receipts 
BEG BALANCE (LESS) ENDING BALANCE
- 
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
1,600,000 
Other Non-Operational Receipts 
INCLUDES INTEREST INCOME, PROCEEDS OF ASSET SALES, etc.
15,923 
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS (tie to bank statement)
1,615,923 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
1,600,000 
NET RECEIPTS
$15,923 
BANK STATEMENT RECONCILIATION:
Beginning Balance
$395,654 
Receipts
1,615,923 
Disbursments
(1,772,770)
Reconciled Ending Balance
$238,807 
Reported Ending Balance
$238,807 
Difference
$0 
UNITED AVIATION FUELS BANK
ENTITY: CORPORATION ACCTS: NORTHERN TRUST ACCT. 792705
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
182,729,993 
Domestic Operational Receipts
NORTHERN TRUST COMPANY
- 
- 
- 
- 
Total Non-Bank One Receipts
- 
International Operational Receipts 
BEG BALANCE (LESS) ENDING BALANCE
- 
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
182,729,993 
Other Non-Operational Receipts
INCLUDES INTEREST INCOME, PROCEEDS OF ASSET SALES, etc.
- 
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS (tie to bank statement)
182,729,993 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
92,480,000 
(Provide detail above)
NET RECEIPTS
$90,249,993 
BANK STATEMENT RECONCILIATION:
Beginning Balance
1,057,766 
Receipts
182,729,993 
Disbursments
(182,203,711)
Reconciled Ending Balance
$1,584,048 
Reported Ending Balance
$1,584,048 
Difference
$0 
BANK BANK ONE ACCT. 11-01955, 11-02250, 
ENTITY: UAL LOYALTY SERVICES, INC. ACCTS: 10-61639, 11-33545
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
7,092,098 
Domestic Operational Receipts
NON BANK ONE / JP MORGAN CHASE ACTIVITY
- 
- 
- 
- 
Total Non-Bank One Receipts
- 
International Operational Receipts 
BEG BALANCE (LESS) ENDING BALANCE 
- 
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
7,092,098 
Other Non-Operational Receipts
INCLUDES INTEREST INCOME, PROCEEDS OF ASSET SALES, etc.
- 
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS (tie to bank statement)
7,092,098 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
7,048,783 
NET RECEIPTS
$43,315 
BANK STATEMENT RECONCILIATION:
Beginning Balance
$1,654,810 
Receipts
7,092,098 
Disbursments
(7,837,129)
Reconciled Ending Balance
$909,779 
Reported Ending Balance
$909,779 
Difference
$0 
BANK
ENTITY: DOMICILE MGMT SERVICES, INC. ACCTS: Citibank #0-157487-016
(see schedule F for details)
RECEIPT SOURCE
DESCRIPTION
AMOUNT
Domestic Operational Receipts
BANK ONE / JP MORGAN CHASE ACTIVITY
- 
Domestic Operational Receipts
CITIBANK
- 
- 
- 
- 
Total Non-Bank One Receipts
- 
International Operational Receipts 
BEG BALANCE (LESS) ENDING BALANCE
274,499 
Total Operational Receipts
TOTAL DOMESTIC AND INTERNATIONAL ACTIVITY
274,499 
Other Non-Operational Receipts
INCLUDES INTEREST INCOME, PROCEEDS OF ASSET SALES, etc.
(706)
Less, Non-filing entities
NONE FOR THIS PERIOD
- 
GROSS RECEIPTS (tie to bank statement)
273,793 
(MINUS) TRANSFERS FROM OTHER ACCOUNTS / ENTITIES
274,499 
NET RECEIPTS
($706)
BANK STATEMENT RECONCILIATION:
Beginning Balance 
232,641 
Receipts
273,793 
Disbursments 
(306,957)
Reconciled Ending Balance
$199,477 
Reported Ending Balance 
$199,477 
Difference
($0)

 
BANK
ENTITY: DISBURSEMENT SUMMARY 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
661,841 
 ( A ) 
xxx PAYROLL NON-OFFICER
257,113,167 
 ( B ) 
04 AVIATION FUEL 2 (SEE FUEL SUMMARY BELOW)
341,126,420 
06 CATERING
27,428,679 
03 RECURRING RENT
43,785,016 
01 GENERAL PAYABLES
509,903,750 
17 INSURANCE
67,720,739 
18 LANDING FEES
21,803,619 
xxx OTHER
68,213,181 
SUBTOTAL EXCLUDING PAYROLL
1,079,981,404 
 ( C ) 
GROSS DISBURSEMENTS (tie to bank statement)
1,337,756,411 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
147,157,337 
 ( D ) 
TAXES:
a. Federal Income Tax and FICA withholdings
111,378,268 
b. State income tax w/held
14,232,256 
c. State sales or use tax
177,856 
d. Other 3
100,882,961 
TOTAL TAXES
226,671,340 
 ( E ) 
NET MONTHLY DISBURSEMENTS
$ 1,417,270,415 
Forward to MOR Summary:
Officers Payroll
661,841 
 ( A ) 
Non-Officer Payroll
257,113,167 
 ( B ) 
Taxes
226,671,340 
 ( E ) 
Necessary Operational Disbursements (less intercompany transfers)
932,824,067 
 (C-D) 
$ 1,417,270,415 
1 Includes disbursement activity for all filing entities of UAL Corporation (refer to page 4).
2 Fuel Summary:
UAFC Fuel Disbursements
182,203,711 
United Fuel Disbursements
158,922,709 
Total Fuel Disbursements
341,126,420 
Less: Intercompany Transfers
(136,210,000)
Fuel Disbursements
$ 204,916,420 
3 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
BANK
ENTITY: UAL CORPORATION 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER Payroll disbursed through United Airlines
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES1
102,561 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
SUBTOTAL EXCLUDING PAYROLL
102,561 
GROSS DISBURSEMENTS (tie to bank statement)
102,561 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
102,561 
1 Includes expenses incurred by members of the Board of Directors.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment ,
tax, state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
BANK
ENTITY: UNITED AIRLINES, INC. 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
661,841 

 
xxx PAYROLL NON-OFFICER
255,916,600 
04 AVIATION FUEL (Includes intercompany transfer to UAFC, see below)
158,922,709 
06 CATERING
27,428,679 
03 RECURRING RENT
43,785,016 
01 GENERAL PAYABLES
500,445,739 
17 INSURANCE
67,720,739 
18 LANDING FEES
21,803,619 
xxx OTHER 2
68,213,181 
SUBTOTAL EXCLUDING PAYROLL
888,319,682 
GROSS DISBURSEMENTS (tie to bank statement)
1,144,898,122 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
MyPoints.com, Inc.
- 
Premier Meeting and Travel Services, Inc.
- 
Mileage Plus, Inc.
1,600,000 
United Aviation Fuels Corporation
92,480,000 
UAL Loyalty Services, Inc.
7,048,783 
Domicile Management Services, Inc.
274,499 
TOTAL TRANSFERS TO OTHER ACCOUNTS / ENTITIES
101,403,282 
TAXES:
a. Federal Income Tax and FICA withholdings
111,137,293 
b. State income tax w/held
14,203,360 
c. State sales or use tax
177,530 
d. Other (specify) 3
97,868,035 
TOTAL TAXES
223,386,217 
NET MONTHLY DISBURSEMENTS
$ 1,266,881,057 
1 Includes activity for United Airlines, Inc., UAL Company Services, Inc., United GHS, Inc., UAL Benefits Management, Inc. and Air Wisconsin, Inc.
2 Includes corporate volume agreements (APO8), maintenance (APO 9), crew housing (APO 11), damaged bags (APO 12), GSA's (APO14), 
group deposits (APO 15), tour payables (APO 16), lost baggage claims (APO 19), ORD JJ (APO 21), passenger facility charges (APO 22), cargo claims 
(APO 23), property work orders (APO 24), travel agency incentives (APO 25), back end commissions (APO 26),cargo correspondence (APO 29), employee 
travel expenses (APO 45), DIP fees and interest, 401K, pilot directed account plan and sick leave trust payments.
3 Includes US Federal fuel tax, transportation tax, transportation security fess, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
BANK BANK ONE ACCT. 11-01955, 11-02250, 10-61639, 
ENTITY: UAL LOYALTY SERVICES, INC 1 ACCTS: 11-33545
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT:
xxx PAYROLL OFFICER Payroll disbursed through United Airlines
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES3
4,832,589 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
4,832,589 
GROSS DISBURSEMENTS (tie to bank statement)
4,832,589 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
200,000 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
3,004,540 
TOTAL TAXES
3,004,540 
NET MONTHLY DISBURSEMENTS
$ 7,637,129 
1 Includes disbursement activity for Confetti, Inc., Mileage Plus Holdings, Inc. and Mileage Plus Marketing, Inc. 
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
3 General Payables include the following:
Exec. Mailing Service (postage)
646,170 
Get There (united.com Booking)
475,992 

 
 
BANK
ENTITY: MILEAGE PLUS HOLDINGS, INC 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through UAL Loyalty Services, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fess, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
BANK
ENTITY: MILEAGE PLUS MARKETING, INC 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through UAL Loyalty Services, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fess, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
BANK
ENTITY: CONFETTI, INC 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
BANK
ENTITY: UAL COMPANY SERVICES, INC. 1 ACCTS: See Schedule F for list of bank accounts
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through United Airlines, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
Fleet Bank # 55157711
Wells Fargo #449-6837055, 10765100
BANK Silicon Valley Bank #3300066117, 3300042163
ENTITY: CYBERGOLD, INC. 1 ACCTS: Silicon Valley Bank #3700276606
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through MyPoints.com, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
Fleet Bank # 55157711
Wells Fargo #449-6837055, 10765100
BANK Silicon Valley Bank #3300066117, 3300042163
ENTITY: iTARGET.COM, INC. 1 ACCTS: Silicon Valley Bank #3700276606
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through MyPoints.com, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
Fleet Bank # 55157711
Wells Fargo #449-6837055, 10765100
BANK Silicon Valley Bank #3300066117, 3300042163
ENTITY: MYPOINTS OFFLINE SERVICES, INC. 1 ACCTS: Silicon Valley Bank #3700276606
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through MyPoints.com, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: UAL BENEFITS MANAGEMENT, INC.1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through United Airlines, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
BANK
ENTITY: UNITED BIZJET HOLDINGS, INC.1  ACCTS: Bank One #10-96072
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Includes disbursement activity for BizJet Fractional, Inc., BizJet Charter, Inc., and BizJet Services, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: BIZJET CHARTER, INC. 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through United BizJet Holdings, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: BIZJET FRACTIONAL, INC. 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through United BizJet Holdings, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: BIZJET SERVICES, INC. 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through United BizJet Holdings, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
BANK
ENTITY: KION LEASING, INC. 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER Payroll disbursed through United Airlines
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Approximated from Income Statement for the month ended May 31, 2003.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
PREMIER MEETING AND TRAVEL  BANK
ENTITY: SERVICES, INC. ACCTS: Bank One 5578531
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT:
xxx PAYROLL OFFICER Payroll disbursed through United Airlines
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES2
314,256 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
314,256 
GROSS DISBURSEMENTS (tie to bank statement)
314,256 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
106,850 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 1
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
$ 207,406 
1 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.
2 General Payables include the following:
United Salaries
$81,531
Washington Speakers Bureau
$48,060

 
 
UNITED AVIATION FUELS  BANK
ENTITY: CORPORATION ACCTS: NORTHERN TRUST ACCT. 792705
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER Payroll disbursed through United Airlines
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
132,006,734 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
132,006,734 
GROSS DISBURSEMENTS (tie to bank statement)
132,006,734 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
74,305,000 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 1
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
$ 57,701,734 
1 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: UNITED COGEN , INC. ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER Payroll disbursed through United Airlines
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
274,911 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
274,911 
GROSS DISBURSEMENTS (tie to bank statement)
274,911 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 1
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
274,911 
1 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
BANK
ENTITY: FOUR STAR LEASING, INC. 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Approximated from Income Statement for the month ended May 31, 2003.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: AIR WISCONSIN, INC. 1 ACCTS: See Schedule F for Details
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
302 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
302 
GROSS DISBURSEMENTS (tie to bank statement)
302 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
302 
1 Disbursement activity conducted through United Airlines, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: AIR WISCONSIN SERVICES, INC 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through Air Wisconsin, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
BANK
ENTITY: FOUR STAR LEASING, INC. 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Approximated from Income Statement for the month ended May 31, 2003.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: AIR WISCONSIN, INC. 1 ACCTS: See Schedule F for Details
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
302 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
302 
GROSS DISBURSEMENTS (tie to bank statement)
302 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
302 
1 Disbursement activity conducted through United Airlines, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
 
BANK
ENTITY: AIR WISCONSIN SERVICES, INC 1 ACCTS: List Accounts per attached list
(see schedule F for details)
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT: 
xxx PAYROLL OFFICER
- 
xxx PAYROLL NON-OFFICER
- 
04 AVIATION FUEL
- 
06 CATERING
- 
03 RECURRING RENT
- 
01 GENERAL PAYABLES
- 
17 INSURANCE
- 
18 LANDING FEES
- 
xxx OTHER
- 
SUBTOTAL EXCLUDING PAYROLL
- 
GROSS DISBURSEMENTS (tie to bank statement)
- 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES
- 
TAXES:
a. Federal Income Tax and FICA withholdings
- 
b. State income tax w/held
- 
c. State sales or use tax
- 
d. Other 2
- 
TOTAL TAXES
- 
NET MONTHLY DISBURSEMENTS
- 
1 Disbursement activity conducted through Air Wisconsin, Inc.
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax and quarterly payments made to the INS, US Custom Fees and Department of Agriculture.

 
ENTITY:  
DOMICILE MGMT SERVICES, INC. BANK

ACCTS: Citibank #0-157487-016
BY APO DISBURSEMENT TYPE 
(based on Cleared Check Date): NOTES: AMOUNT:
xxx PAYROLL OFFICER - 
xxx PAYROLL NON-OFFICER 9,310 
04 AVIATION FUEL - 
06 CATERING - 
03 RECURRING RENT - 
01 GENERAL PAYABLES1 209,295 
17 INSURANCE - 
18 LANDING FEES - 
xxx OTHER - 
SUBTOTAL EXCLUDING PAYROLL 209,295 
GROSS DISBURSEMENTS (tie to bank statement) 218,605 
(MINUS )TRANSFERS TO OTHER ACCOUNTS / ENTITIES - 
TAXES:
a. Federal Income Tax and FICA withholdings - 
b. State income tax w/held - 
c. State sales or use tax 240 
d. Other 2 - 
TOTAL TAXES 240 
NET MONTHLY DISBURSEMENTS $ 218,845 
1 Primary drivers of the general payables are the following:
Narita Excel Hotel Tokyo
$104,935 
Ryoso Grand Transportation
$30,414
2 Includes US Federal fuel tax, transportation tax, transportation security fees, personal property tax, excise tax, liquor tax, unemployment tax, 
state & city tax, quarterly payments made to the INS, and US Custom Fees and Department of Agriculture.
SCHEDULE A and B - Payments to Insiders and Insurance
Insurance
The undersigned verifies that, to the best of my knowledge, all insurance premiums for the policies held by all legal entities of UAL Corporation have been paid
to the proper insurance company or broker when due, and that all insurance policies are in force as of April 30, 2003
Signature
Print Name and Title
Date
Insider Payments
The undersigned verifies that, all payments made to insiders, as defined in 11 U.S.C. Section 101 of the U.S. Bankruptcy Code, during the reporting period have been made in the ordinary course of business or in accordance with the provisions of an Order entered by the U.S. Bankruptcy Court.
Signature
Print Name and Title
Date
SCHEDULE C - Description of Tax Trusts
Escrow Accounts
The Debtors have created an escrow account to ensure that adequate funds are available to pay outstanding fiduciary tax obligations owed to the federal government as well as state and local jurisdictions in the event that the Debtors cease operations. These trust funds are described below.
Escrow Fund
This escrow fund was established with LaSalle Bank on November 29, 2002 and funded on December 5, 2002 with an initial funding of $200 
million to account for the estimated tax liability of UAL Corporation, UAL Loyalty Services, Inc., Confetti, Inc., Mileage Plus Holdings, Inc., 
Mileage Plus Marketing, Inc., MyPoints.com, Inc., Cybergold, Inc., itarget.com, Inc., MyPoints Offline Services, Inc., UAL Company Services, Inc., 
Four Star Leasing, Inc.,Air Wisconsin Services, Inc., Air Wisconsin, Inc., Domicile Management Services, Inc., UAL Benefits Management, Inc., 
United BizJet Holdings, Inc., BizJet Charter, Inc., BizJet Fractional, Inc., BizJet Services, Inc., United Air Lines, Inc., Kion Leasing, Inc., Premier 
Meeting and Travel Services, Inc., United Aviation Fuel Corporation, United Cogen, Inc., Mileage Plus, Inc., United GHS, Inc., United 
Worldwide Corporation, and United Vacations, Inc. No subsequent funding or payments are made from the escrow account.
The components of the Escrow fund:
w Federal payroll withholding taxes, FICA (employee portion), and Medicare;
w Federal air transportation excise taxes;
w Federal security charges;
w Federal Animal and Plan Health Inspection Service of the U.S. Department of Agriculture ("APHIS");
w Federal Immigration and Naturalization Service (INS) fees;
w Federal customs fees;
w State and local income tax withholding;
w Disability taxes;
w Passenger facility charges ("PFC");
w State sales and use taxes;
w Federal and state fuel taxes
SCHEDULE D - Payments to Secured Creditors and Lessors
Name of Creditor or Lessor Type
Date Regular Payment is Due
Amount of Regular Payment
Check # of Payments
Number of Payments Delinquent*
Amount of Payments * Delinquent
CREDIT LYONNAIS TOKYO  AIRCRAFT
5/1/03
543,714.94 
Wachovia Trust Company, NA  AIRCRAFT
5/2/03
65,000.00 
US BANK  AIRCRAFT
5/5/03
150,000.00 
CORPORATE TRUST SERVICES  AIRCRAFT
5/8/03
80,000.00 
IAE  AIRCRAFT
5/8/03
1,620,000.00 
JP MORGAN CHASE BANK  AIRCRAFT
5/8/03
340,000.00 
US BANK  AIRCRAFT
5/8/03
1,200,000.00 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/8/03
80,000.00 
WILMINGTON TRUST COMPANY  AIRCRAFT
5/8/03
130,000.00 
WILMINGTON TRUST COMPANY  AIRCRAFT
5/9/03
500,000.00 
WESTDEUTSCHE LANDESBANK GIROZCENTRALE  AIRCRAFT
5/9/03
879,127.34 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/15/03
5,000,000.00 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/19/03
7,008,111.59 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/20/03
229,583.89 
HELIOS LEASE  AIRCRAFT
5/22/03
1,596,876.63 
JP MORGAN CHASE BANK  AIRCRAFT
5/22/03
100,000.00 
US BANK  AIRCRAFT
5/27/03
33,518,499.67 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/27/03
2,978,999.46 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/28/03
600,000.00 
HELADEFF AIRCRAFT
5/28/03
334,594.00 
US BANK  AIRCRAFT
5/29/03
840,000.00 
WELLS FARGO BANK NORTHWEST, N.A.  AIRCRAFT
5/29/03
6,460,763.36 
PK AIR FINANCE ADMIN FEES
5/29/03
281,115.97 
EXPORT DEVELOPMENT CANADA AIRCRAFT
5/30/03
1,497,289.31 
PHILIP MORRIS CAPITAL CORPORATION  AIRCRAFT
5/30/03
2,340,000.00 
BANK ONE AIRCRAFT
5/30/03
325,000.00 
MITSUBISHI TRUST & BANKING CORP. AIRCRAFT
5/30/03
410,708.38 
TOTAL
69,109,384.54 

 
 
SCHEDULE E - Professional Payments 1 
PROFESSIONAL GROUP
MONTH AMOUNT AUTHORIZED
MONTH AMOUNT PAID
Babcock & Brown
250,000.00
250,000.00
Bain & Company
500,000.00
500,000.00
Huron Consulting Group LLC
379,229.01
379,229.01
Kirkland & Ellis
3,183,660.03
3,183,660.03
KPMG LLP
1,108,313.40
1,108,313.40
McKinsey & Co
1,468,775.19
1,468,775.19
Paul Hastings
188,115.16
188,115.16
Piper Rudnick LLP
303,340.14
303,340.14
Poorman-Douglas Corporation
591,277.31
591,277.31
Rothschild, Inc.
402,430.09
402,430.09
Saybrook Capital
1,237,500.94
1,237,500.94
Sonnenschein Nath & Rosenthal
1,166,885.74
1,166,885.74
Vedder Price
1,019,712.52
1,019,712.52
Wilmer, Cutler and Pickering
98,961.36
98,961.36
Uniform Creditors Committee
15,388.57
15,388.57
1 Professionals, for the purpose of this report, are defined as those who have filed a Professional Retention with the Federal Bankruptcy 
Court and whom are subject to the Interim Compensation Motion. All professional fees and expenses incurred in May have been
accrued and reported on the Debtor's Balance Sheet. In instances in which fee applications have been received and the associated
payments have been made, the accrual has been adjusted and the actual activity has been reflected in the Debtor's Accounts Payable.

 
SCHEDULE F - Accounts Receivable and Accounts Payable Schedule
STATEMENT OF AGED RECEIVABLES 
Tie -out
 Consol. Filed Non-Filed
A/R Entities Entities
Beginning of month balance1
$937,409,257 
$966,328,453
$963,904,578
$2,423,875
Add: sales on account
$1,399,698,864 
Less: collections
($1,365,384,484)
Less: Write-offs and Clearing
($7,819,059)
End of month balance
$963,904,578 
0 - 30 Days2
31 - 60 Days2
61 - 90 Days2
Over 90 Days2
End of Month Total
$842,452,601 
$52,050,847 
$32,772,756 
$36,628,374 
$963,904,578 
1 Includes accruals for unprocessed sales for which the Debtor has not sent an invoice during the reporting period.
2 Accounts receivable aging based on a 1 month historical percentage.
STATEMENT OF ACCOUNTS PAYABLE (POST PETITION)
Consolidated Filing Entities
Tie -out
 Consol. Filed Non-Filed
A/P Entities Entities
Beginning of month balance 1
$205,635,269 
$215,066,428
$212,402,167
$2,664,261
Add: credit extended
$1,030,783,195 
Less: payments on account
$1,024,016,297 
End of month balance
$212,402,167 
0 - 30 Days
31 - 60 Days 2
61 - 90 Days 2
Over 90 Days 2
End of Month Total
$212,084,634 
$109,687 
$207,846 
$0 
$212,402,167 
1 Includes accruals for goods and services received for which the Debtor has not yet received an invoice during the reporting period.
2 All trade payables over 30 days old are available upon request.

 
 
SCHEDULE G - Bank Accounts and Financial Institution Relationships
The Debtors' businesses and financial affairs require the collection, disbursement and movement of funds through numerous bank accounts. 
In addition to the 177 domestic bank accounts, the Debtor operates 107 accounts in approximately 47 countries around the world.
A list of the Debtor's bank accounts is detailed below:
(*denotes new account or closed account for this monthly operating report as compared to prior monthly operating report)
DOMESTIC BANK ACCOUNTS
Financial Institution
Account Location
Acct #
1ST SOURCE BANK South Bend, IN
n/a
AMSOUTH BANK Birmingham, AL
n/a
AMSOUTH BANK Knoxville, TN
n/a
ASSOCIATED BANK -WI Madison, WI
n/a
BANK OF AMERICA North Charleston, SC
n/a
BANK OF AMERICA Baltimore, MD
n/a
BANK OF AMERICA Savannah, GA
n/a
BANK OF AMERICA Greenville, SC
n/a
BANK OF AMERICA Richmond, VA
n/a
BANK OF AMERICA Greensboro, NC
n/a
BANK OF AMERICA Wichita, KS
n/a
BANK OF AMERICA Springfield, MO
n/a
BANK OF AMERICA Kansas City, MO
n/a
BANK OF AMERICA Portland, OR
n/a
BANK OF AMERICA Austin, TX
n/a
BANK OF AMERICA San Antonio, TX
n/a
BANK OF AMERICA  San Francisco, CA
n/a
BANK OF AMERICA  San Francisco, CA
n/a
BANK OF AMERICA  San Francisco, CA
n/a
BANK OF AMERICA  San Francisco, CA
n/a
BANK OF AMERICA CALIF PZ San Francisco, CA
n/a
Bank of America PZ-CA DeKalb, Ga
n/a
BANK OF AMERICA SFOTK  San Francisco, CA
n/a
BANK OF AMERICA -SILVER WINGS San Francisco, CA
n/a
BANK OF AMERICA WASHINGTON Seattle, WA
n/a
BANK OF HAWAII  Honolulu, HI
n/a
BANK OF ILLINOIS (Air Wisconsin) Normal, IL
n/a
BANK OF NEW YORK New York, NY
n/a
BANK OF NEW YORK White Plains, NY
n/a
BANK OF OKLAHOMA Tulsa, OK
n/a
BANK OF THE WEST San Jose, Ca
n/a
BANK ONE Chicago, IL (Miami Cluster)
n/a
BANK ONE Grand Rapids, MI
n/a
BANK ONE (Tickets By Mail) Detroit, MI
n/a
BANK ONE Detroit, MI
n/a
BANK ONE Lexington, KY
n/a
BANK ONE Chicago, IL
n/a
BANK ONE (AirWisconsin) Traverse City, MI
n/a
BANK ONE (CAFETERIA) Chicago, IL
n/a
BANK ONE  Chicago, IL
n/a
BANK ONE  Chicago, IL
n/a
BANK ONE  Chicago, IL
n/a
BANK ONE  Chicago, IL
n/a
BANK ONE INDIANAPOLIS Indianapolis, IN
n/a
BANK ONE OF OKLAHOMA Oklahoma City, OK
n/a
CANADIAN IMPERIAL Toronto, Ontario Canada
n/a
CANANDAIGUA NAT BANK & TRUST Pittsford, NY
n/a
CAPITAL CITY BANK & TRUST CO Atlanta, Ga
n/a
CAPITAL SAVINGS BANK El Paso, TX
n/a
Charter One Bank Binghamton, NY
n/a
CHASE BANK New York, NY 
n/a
CHASE MANHATTAN BANK (FirstBank) St. Thomas, USVI
n/a
CHASE MANHATTAN BANK New York, NY (LGA)
n/a
CHITTENDEN TRUST CO Burlington, VT
n/a
CITIBANK New York, NY
n/a
CITIBANK New York, NY
n/a
CITIBANK (EMP WELFARE)  New York, NY
n/a
CITIBANK, N.A. Jamaica, NY (JFK)
n/a
City National Bank Charleston, WV
n/a
COMERICA Detroit, MI
n/a
COMERICA (AirWisconsin) Lansing, MI
n/a
COMMUNITY BANK OF COLORADO CO Gunnison, CO
n/a
FIFTH THIRD BANK Florence, KY
n/a
FIFTH THIRD BANK Kalamazoo, MI
n/a
FIRST BANK OF AVON Avon, CO
n/a
FIRST CITIZENS BANK Raleigh, NC
n/a
FIRST CITIZENS BK-RALEIGH Charlotte, NC
n/a
FIRST HAWAIIAN BANK Honolulu, HI
n/a
FIRST MIDWEST BANK Moline, IL
n/a
FIRST NATIONAL BANK OF ROCKIES Hayden, CO
n/a
FIRST UNION Philadelphia, PA
n/a
FIRST UNION BANK Allentown, PA
n/a
FIRST UNION BANK Roanoke, VA
n/a
FIRST UNION BANK  Newark, NJ
n/a
FIRST UNION BANK  Newark, NJ
n/a
FIRSTAR BANK Cedar Rapids, IA
n/a
FIRSTAR BANK St. Louis, MO
n/a
FIRSTAR, N.A. Cleveland, OH
n/a
FLEET Boston, MA
n/a
FLEET BANK Manchester, NH
n/a
FLEET NATIONAL BANK Providence, RI
n/a
FREELAND STATE BANK Freeland, MI
n/a
FVB COLONIAL Richmond, VA
n/a
HARRIS BANK  Chicago, IL
n/a
HSBC Buffalo, NY
n/a
JACKSON STATE BANK-WY Jackson Hole, WY
n/a
JP MORGAN CHASE New York, NY
n/a
JP MORGAN CHASE New York, NY
n/a
KEY BANK Newburgh, NY
n/a
KEY BANK Dayton, OH
n/a
KEY BANK OF CENTRAL N.Y. Syracuse, NY
n/a
KEY BANK OF EASTERN N.Y. Albany, NY
n/a
M & I BANK Milwaukee, WI
n/a
M & I BANK FOX VALLEY Appleton, WI
n/a
M & I BANK OF MOSINEE Mosinee, WI
n/a
M & I MARSHALL & ILSLEY  Green Bay, WI
n/a
M & T BANK Middletown, PA
n/a
MONTROSE BANK CO Montrose, CO
n/a
NATIONAL CITY  Columbus, OH
n/a
NATIONAL CITY BANK Pittsburgh, PA
n/a
NATIONAL CITY BANK OF INDIANA Fort Wayne, IN
n/a
NATIONAL CITY BANK OF MI/IL Peoria, IL
n/a
NATIONAL CITY BANK OF MI/IL (AW) Springfield, IL
n/a
NORTHERN TRUST  Chicago, IL
n/a
NORTHERN TRUST  Chicago, IL
n/a
NORTHERN TRUST BANK (WHQ Deposits) Chicago, IL
n/a
NORTHERN TRUST CO 15 & 16 Chicago, IL
n/a
NORTHERN TRUST CONTROL ACCT Chicago, IL
n/a
NORTHERN TRUST FIELD REFUNDS Chicago, IL
n/a
NORTHERN TRUST LOCAL DISB Chicago, IL
n/a
PEOPLES HERITAGE Portland, ME
n/a
PNC Bank Avoca, PA
n/a
PNC Bank State College, PA
n/a
RIGGS NATIONAL Washington, DC
n/a
SUN TRUST Washington, DC
n/a
SUN TRUST BANK Nashville, TN
n/a
SUN TRUST BANK  Orlando, FL
n/a
THE NORTHERN TRUST  Chicago, IL
n/a
TIDEWATER BANK Norfolk, VA
n/a
U.S. BANK OF MINNESOTA Medford, OR
n/a
UNION BANK OF CALIFORNIA San Diego, CA
n/a
UNIZAN BANK North Canton, OH
n/a
US Bank Fargo, ND
n/a
US BANK Aspen, CO
n/a
US BANK Rapid City, SD (Mileage Plus)
n/a
US BANK (HELENA, MONTANA) Billings, MT
n/a
US BANK (MINNESOTA) Lincoln, NE
n/a
US BANK (MINNESOTA) Seattle, WA
n/a
WACHOVIA Chicago, IL
n/a
Wachovia Bank & Trust Charlottesville, VA
n/a
Wachovia Bank & Trust Cayce, SC
n/a
WACHOVIA BK & TRST 230 OPER Chicago, IL
n/a
WACHOVIA BK & TRST 231 PZ Chicago, IL
n/a
WACHOVIA: "MPI" Chicago, IL
n/a
WACHOVIA: "OFFICERS" Chicago, IL
n/a
WACHOVIA: "PREMIER" Chicago, IL
n/a
WEBSTER BANK Hartford, CT
n/a
WELLS FARGO Portland, OR
n/a
WELLS FARGO Los Angeles, CA
n/a
WELLS FARGO Seattle, WA
n/a
WELLS FARGO Grapevine, TX
n/a
WELLS FARGO Anchorage, AK
n/a
WELLS FARGO BANK Phoenix, AZ
n/a
WELLS FARGO BANK Houston, TX
n/a
WELLS FARGO BANK IOWA  Des Moines, IA
n/a
WELLS FARGO BANK N. DAKOTA Bismarck, ND
n/a
WELLS FARGO BANK S. DAKOTA Rapid City, SD
n/a
WELLS FARGO BANK WEST Denver, CO
n/a
WELLS FARGO BANK WEST Ignacio, Colorado
n/a
WELLS FARGO BANK WEST Colorado Springs, CO
n/a
WELLS FARGO BANK, N.A. Boise, ID
n/a
WELLS FARGO BANK, NA Las Vegas, NV
n/a
WELLS FARGO BANK-NE  Omaha, NE
n/a
WELLS FARGO-LAS VEGAS Las Vegas, NV
n/a
WELLS FARGO-MINNESOTA  Minneapolis, MN
n/a
WELLS FARGO-NEW MEXICO Albuquerque, NM
n/a
WELLS FARGO-SOUTH DAKOTA Sioux Falls, SD
n/a
WESTAMERICA BANK Suisun, CA
n/a
WHITNEY NATIONAL New Orleans, LA
n/a
ZIONS BANK:AW Salt Lake City, UT
n/a

 
SCHEDULE G - - Bank Accts and Financial Institution Relationships
EUROPEAN BANK ACCOUNTS
Financial Institution
Location
Bank Acct #
ABN AMRO Switzerland
n/a
ABN AMRO ENGLAND
n/a
ABN AMRO ENGLAND
n/a
ABN AMRO ENGLAND
n/a
KREDIETBANK Belgium
n/a
COMMERZ BANK Germany
n/a
COMMERZ BANK Germany
n/a
COMMERZ BANK Germany
n/a
BANQUE NATIONALE de PARIS France
n/a
BANQUE NATIONALE de PARIS France
n/a
BANQUE NATIONALE de PARIS France
n/a
NATIONAL WESTMINSTER BANK (Royal Bank of Scotland) England
n/a
NATIONAL WESTMINSTER BANK (Royal Bank of Scotland) England
n/a
NATIONAL WESTMINSTER BANK (Royal Bank of Scotland) England
n/a
NATIONAL WESTMINSTER BANK (Royal Bank of Scotland) England
n/a
BANK OF IRELAND Ireland
n/a
MONTE DE PASCHI Italy
n/a
ABN AMRO BANK Netherlands
n/a
ASIA-PACIFIC BANK ACCOUNTS
Financial Institution
Location
Bank Acct #
AUSTRALIA & NEW ZEALAND BANKING GROUP Australia
n/a
CHINA CONSTRUCTION BANK  China
n/a
BANK OF CHINA  China
n/a
CHINA CONSTRUCTION BANK  China
n/a
BANK OF CHINA  China
n/a
BANK OF EAST ASIA  Hong Kong
n/a
HONGKONG & SHANGHAI BANK Hong Kong
n/a
BANK OF EAST ASIA  Hong Kong
n/a
HONGKONG & SHANGHAI BANK Hong Kong
n/a
CITIBANK  India
n/a
THE BANK OF TOKYO MITSUBISHI  Japan
n/a
THE BANK OF TOKYO MITSUBISHI  Japan
n/a
THE BANK OF TOKYO MITSUBISHI  Japan
n/a
THE BANK OF TOKYO MITSUBISHI  Japan
n/a
THE BANK OF TOKYO MITSUBISHI  Japan
n/a
BANK OF AMERICA Korea
n/a
KOREA EXCHANGE BANK Korea
n/a
KOREA EXCHANGE BANK Korea
n/a
KOREA EXCHANGE BANK Korea
n/a
BANK OF AMERICA  Korea
n/a
BANK OF AMERICA  Korea
n/a
WESTPAC BANKING CORPORATION  New Zealand
n/a
WESTPAC BANKING CORPORATION  New Zealand
n/a
BANK OF AMERICA Singapore
n/a
BANK OF AMERICA Thailand
n/a
CITIBANK  Taiwan
n/a
CITIBANK  Taiwan
n/a
BANK OF AMERICA HONG KONG Hong Kong
n/a
BANK OF AMERICA HONG KONG Hong Kong
n/a
BANK OF AMERICA HONG KONG Hong Kong
n/a
BANK OF AMERICA HONG KONG Hong Kong
n/a
BANK OF AMERICA HONG KONG Hong Kong
n/a
LATIN AMERICA BANK ACCOUNTS
Financial Institution
Location
Bank Acct #
CITIBANK  Argentina
n/a
BANCO DE BOSTON  Argentina
n/a
BANCO DE LA NACION  Argentina
n/a
BANCO RIO DE LA PLATA  Argentina
n/a
CARIBBEAN MERCANTILE BANK  Aruba
n/a
CARIBBEAN MERCANTILE BANK  Aruba
n/a
BANCO SAFRA Brazil
n/a
BANCO SAFRA Brazil
n/a
UNIBANCO Brazil
n/a
BANCO DE BRASIL Brazil
n/a
BANCO BOSTON Brazil
n/a
BANCO SAFRA  Brazil
n/a
BANCO SAFRA  Brazil
n/a
BANCO DE CHILE  Chile
n/a
BANCO DE CHILE  Chile
n/a
BANCO DE COSTA RICA  Costa Rica
n/a
BANCO DE COSTA RICA  Costa Rica
n/a
BANCO DE SAN JOSE Costa Rica
n/a
BANCO DE SAN JOSE Costa Rica
n/a
BANCO DE OCCIDENTE Guatemala
n/a
CITIBANK Guatemala
n/a
BANCA SERFIN  Mexico
n/a
BANCA SERFIN  Mexico
n/a
BANCO CUSCATLAN El Salvador
n/a
CITIBANK El Salvador
n/a
SUDAMERIS BANK  Uruguay
n/a
SUDAMERIS BANK  Uruguay
n/a
BANCO MERCANTIL Venezuela
n/a
BANCO PROVINCIAL Venezuela
n/a
BANCO MERCANTIL Venezuela
n/a
OFFLINE BANK ACCOUNTS
Financial Institution
Location
Bank Acct #
BANCO POPULAR PUERTO RICO
n/a
CANADIAN INTERNATIONAL BANK OF COMMERCE CANADA
n/a
CANADIAN INTERNATIONAL BANK OF COMMERCE CANADA
n/a
CITIBANK PANAMA
n/a
CITIBANK PHILIPPINES
n/a
CITIBANK PHILIPPINES
n/a
CITIBANK HUNGARY
n/a
PRODUBANCO ECUADOR
n/a
ISLANDSBANKI ICELAND
n/a
MERITA BANK FINLAND
n/a
BANCO POPULAR ESPANOL-ESP SPAIN
n/a
SKANDINAVISKA SWEDEN
n/a
SWISS BANK CORP SWITZERLAND
n/a
BANK AUSTRIA AG AUSTRIA
n/a
DANSKE BANK DENMARK
n/a
CHRISTIANA BANK (NORDEA BANK NORGE ASA) NORWAY
n/a
CREDIT LYONNAIS VIETNAM
n/a
CAYMAN NATIONAL BANK BRITISH WI
n/a
NED BANK SOUTH AFRICA
n/a
BANK HANDLOWY POLAND
n/a
BANCO COMERCIAL PORTUGAL PORTUGAL
n/a
BANCO COLPATRIA COLOMBIA
n/a
BANCO COLPATRIA COLOMBIA
n/a
CANADIAN INTERNATIONAL BANK OF COMMERCE CANADA
n/a
BANK OF MONTREAL CANADA
n/a
SUBSIDIARY BANK ACCOUNTS
Financial Institution
Country
Bank Acct #
UNITED AVIATION FUELS CORP.
NOTHERN TRUST BANK USA
n/a
UNITED WORLDWIDE CORP.
JP MORGAN CHASE USA
n/a
MILEAGE PLUS, INC.
SHORE BANK USA
n/a
PREMIER MEETING & TRAVEL SERVICES, INC.
BANK ONE USA
n/a
BANK ONE USA
n/a
MY POINTS.COM, INC.
SILICON VALLEY BANK USA
n/a
SILICON VALLEY BANK USA
n/a
SILICON VALLEY BANK USA
n/a
FLEET BANK USA
n/a
WELLS CAPITAL MANAGEMENT USA
n/a
WELLS FARGO BANK USA
n/a
UAL LOYALTY SERVICES
BANK ONE USA
n/a
BANK ONE USA
n/a
BANK ONE USA
n/a
BANK ONE USA
n/a
KION DE MEXICO
BANCA SERFIN, S.A. MEXICO
n/a
BANCA SERFIN, S.A. MEXICO
n/a
CITIBANK USA
n/a

 
 
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 
petition as the taxes come due. Please indicate whether the following post-petition taxes have been paid or 
deposited as they came due.
( ) Check here if no employees.
TAX
YES
NO
NOT REQUIRED
WHEN DUE
Federal income tax withholding
X
FICA withholding
X
Employer's share FICA
X
Federal Unemployment Taxes
X
State Income Tax Withholding
X
Sales Tax
X
Other Tax
X
If any taxes have not been paid when due complete this table:
TAX NOT PAID
AMOUNT NOT PAID
DATE OF LAST PAYMENT
Note: Tax related payments withheld from UAL and its subsidiaries' employee wages are paid to a third
party payroll service, Deloitte & Touche LLP., with the exception of Mileage Plus who pays such tax related payments
to Automatic Data Processing. 

 
Worldwide Communications:   

Exhibit 99.2

United                                                                        News Release

Worldwide Communications:

Media Relations Office: 847.700.5538

Evenings/Weekends: 847.700.4088
 
 

UAL REPORTS MAY MONTHLY OPERATING RESULTS

Meets Fourth DIP Covenant
Reports Positive Cash Flow and EBITDAR in May
CHICAGO, June 27, 2003 - UAL Corporation (OTCBB: UALAQ.OB), the holding company whose primary subsidiary is United Airlines, today filed its May Monthly Operating Report (MOR) with the United States Bankruptcy Court, and said that it met the requirements of its debtor-in-possession (DIP) financing for the fourth straight month. As part of its DIP financing agreements, United's lenders required the company to achieve a cumulative EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) loss of no more than $738 million between December 1, 2002 and May 31, 2003.

The company reported a loss from operations of $155 million in May. The company also reported non-operating income of $219 million, which included $300 million that the company received from the U.S. government under the terms of the Emergency Wartime Supplemental Appropriations Act in recompense for costs due to the war in Iraq. These items resulted in net earnings of $64 million.

UAL again improved its cash position for the month and reported an increase in cash of approximately $456 million for May, ending the month with a cash balance of approximately $2.2 billion, which included $659 million in restricted cash (filing entities only). UAL began May with a cash balance of approximately $1.7 billion, which included $651 million in restricted cash (filing entities only). Excluding the government assistance and approximately $45 million received from large one-time asset sales, the company's cash balance increased approximately $111 million for the month or $3.5 million per day.

United's Executive Vice President and Chief Financial Officer Jake Brace said, "United is continuing to produce very good results in our efforts to reduce operating costs across the board. In May, our new collective bargaining agreements (CBAs) went into effect, substantially reducing salaries and labor-related costs. Combining the benefits of these new CBAs and the company's expected 15% reduction year-over-year in capacity in the quarter, the company is on track to reduce labor costs for the second quarter year-over-year by $500 million or more. There is still much work to be done and we are now focusing on finalizing a business plan and beginning the exit financing process."

Brace continued, "United met its cumulative EBITDAR goal for the fourth time. In addition, we are pleased to report that our EBITDAR for the month of May itself was positive for the first time since filing for Chapter 11, even excluding the $300 million in government assistance that we received in May. The company is confident that it will also meet the cumulative EBITDAR requirements for June. On the revenue side, we continue to face a difficult economic environment, but we are seeing positive signs for our business."

United's Executive Vice President - Customer, John P. Tague said, "Improving revenue is our foremost priority as we move to leverage the cost effectiveness that United is building into its business model. This includes customer-focused service improvements and carefully targeted marketing programs. For example, this month United became the first major U.S. carrier to announce the introduction of in-flight passenger e-mail access in our domestic market. We also introduced the 'Fly Three, Fly Free' advertising and marketing campaign that has resulted in a number of registered participants that has far exceeded our expectations. We are encouraged by the steady demand against rising yields that we are currently experiencing."

United continued its strong operational performance. The company recorded its best May performance ever, including a departure completion rate of 99.7%, on-time departures of 77% and arrivals within 14 minutes of schedule of 86%.

United operates more than 1,700 flights a day on a route network that spans the globe. News releases and other information about United may be found at the company's website at www.united.com.

Safe Harbor Statement. Certain information contained in this press release should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect UAL Corporation's current expectations and beliefs with respect to certain current and future events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks and uncertainties relating to the operations and business environments of UAL Corporation and its subsidiaries (collectively, the "company") that may cause the actual results of the company to differ materially from any future results expressed or implied in such forward-looking statements. Such factors include, but are not limited to, the following: the company's ability to continue as a going concern; the company's ability to operate pursuant to the terms of its debtor-in-possession facility; the company's ability to obtain court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time; the company's ability to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the company to propose and confirm one or more plans of reorganization, for the appointment of a Chapter 11 trustee or to convert the cases to Chapter 7 cases; the company's ability to achieve necessary reductions in labor costs; the company's ability to obtain and maintain normal terms with vendors and service providers; the company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the company's liquidity or results of operations; the cost and availability of financing; the company's ability to execute its business plan; the company's ability to attract, motivate and/or retain key employees; the company's ability to attract and retain customers; demand for transportation in the markets in which the company operates; general economic conditions; the effects of the war in Iraq and any other hostilities or act of war (in the Middle East or elsewhere) or any terrorist attack; the ability of other air carriers with whom the company has alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; the cost and availability of aircraft insurance; the cost of aviation fuel; the cost associated with existing or future security measures and practices; competitive pressures on pricing (particularly from lower-cost competitors); government legislation and regulation; consumer perceptions of the company's products; weather conditions; and other risks and uncertainties set forth from time to time in UAL Corporation's reports to the United States Securities and Exchange Commission. Consequently, the forward-looking statements should not be regarded as representations or warranties by the company that such matters will be realized. The company disclaims any intent or obligation to update or alter any of the forward-looking statements, whether in response to new information, unforeseen events, changed circumstances or otherwise.

####