WASHINGTON, D.C. 20549


                                 SCHEDULE 13D/A
                                 (Rule 13d-101)

                                  RULE 13d-2(a)

                    Under the Securities Exchange Act of 1934
                                (Amendment No. 2)

                                    UAL Corp.
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                                (Name of Issuer)

                     Common Stock, par value $0.01 per share
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                         (Title of Class of Securities)

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                                 (CUSIP Number)

                              Kenneth J. Cooper
                       Pension Benefit Guaranty Corporation
                            Office of General Counsel
			   1200 K Street, N.W., Rm. 11509
                             Washington, D.C. 20005
                             (202) 326-4400 ext 3754
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                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                June 28, 2006
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                          (Date of Event which Requires
                            Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]

NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.

                         (Continued on following pages)

                              (Page 1 of 3 Pages)

* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).

- ---------------------------- --------------------- CUSIP NO. 902549807 SCHEDULE 13D/A PAGE 2 OF 3 PAGES - ---------------------------- --------------------- - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Pension Benefit Guaranty Corp., Tax ID No. 52-1042410 - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ---------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - ---------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION District of Columbia - --------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ---------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH 0 ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 11,103,316 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3% - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* 0 - ------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ---------------------------- -------------------- CUSIP NO. 902549807 SCHEDULE 13D/A PAGE 3 OF 3 PAGES - ---------------------------- -------------------- This Amendment No. 2 to the Schedule 13D filed by the Pension Benefit Guaranty Corporation ("PBGC") on February 13, 2006 (the "Schedule 13D"), amends Item 5(a) of the Schedule 13D. All capitalized terms used herein have the respective meanings given to such terms in the Schedule 13D. ITEM 5. Interest in Securities of the Issuer Item 5 of the Schedule 13D is hereby amended to read as follows: (a) PBGC owns of record or beneficially 11,103,316 shares of UAL common stock,which represents 11.3% of the 98,514,000 total outstanding shares of UAL common stock. (b) On June 28, 2006, PBGC assigned investment and voting authority over its 11,103,316 shares of UAL common stock to J.P. Morgan Investment Management Inc., a wholly owned subsidiary of JPMorgan Chase & Co. PBGC retains the right to revoke this assignment, and, therefore, is a beneficial owner of the shares. SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: July 25, 2006 Pension Benefit Guaranty Corporation By: /s/ James Gerber --------------------------- Name: James Gerber Title: Chief Financial Officer