UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 8, 2010
UAL CORPORATION
UNITED AIR LINES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-06033 | 36-2675207 | ||
| Delaware | 001-11355 | 36-2675206 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification Number) |
| 77 W. Wacker Drive, Chicago, IL | 60601 | |
| (Address of principal executive offices) | (Zip Code) |
(312) 997-8000
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)) |
Item 8.01 Other Events.
On February 8, 2010, UAL Corporation issued a press release reporting its January 2010 traffic performance. The press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. |
Description | |
| 99.1 |
Press Release issued by UAL Corporation dated February 8, 2010 | |
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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 | ||||
| UNITED AIR LINES, INC. | ||||
| By: | /s/ Kathryn A. Mikells | |||
| Name: | Kathryn A. Mikells | |||
| Title: | Executive Vice President and Chief Financial Officer | |||
Date: February 8, 2010
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EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 |
Press Release issued by UAL Corporation dated February 8, 2010 | |
4
Exhibit 99.1
News Release
Worldwide Press Office:
Tel: 312.997.8640
United Airlines Reports January 2010 Operational Performance
CHICAGO, Feb. 8, 2010 – United Airlines today reported its preliminary consolidated traffic results for January 2010. Total consolidated revenue passenger miles (RPMs) increased in January by 2.4% on a decrease of 2.0% in available seat miles (ASMs) compared with the same period in 2009. This resulted in a reported January 2010 consolidated passenger load factor of 78.5%, an increase of 3.4 points compared to 2009.
For January 2010, United reported a US Department of Transportation on-time arrival rate of 83.6%.
For January 2010, consolidated passenger revenue per available seat mile (PRASM) is estimated to have increased 9.5% to 11.5% year over year. Consolidated PRASM is estimated to have increased 2.0% to 4.0% for January 2010 compared to January 2008. Given the significant volatility in the revenue environment in 2009, management believes investors will find the year-over-two-year comparison to be useful.
Shown below are the year-over-year PRASM changes each month in the first quarter of 2009 for United along with a comparison to the combined Air Transport Association (ATA) carriers. Additional historical data can be found in the table at the end of this release.
| United’s 2009 Consolidated PRASM Increase/Decrease vs. 2008 |
Higher/Lower than Industry (ATA) including fees | ||||
| January 2009 |
-6.7 | % | -4.0 points | ||
| February 2009 |
-11.2 | % | -3.4 points | ||
| March 2009 |
-15.0 | % | -1.2 points | ||
| First Quarter 2009 |
-11.1 | % | -2.7 points |
Average January 2010 mainline fuel price, including gains or losses on settled fuel hedges and excluding non-cash mark-to-market fuel hedge gains and losses, is estimated to be $2.22 per gallon for the month. Including non-cash, mark-to-market fuel hedge gains and losses, the estimated fuel price is $3.12 for the month.
About United
United Airlines, a wholly-owned subsidiary of UAL Corporation (Nasdaq: UAUA), operates approximately 3,300** flights a day on United and United Express to more than 230 U.S. domestic and international destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago and Washington, D.C. With key global air rights in the Asia-Pacific region, Europe and Latin America, United is one of the largest international carriers based in the United States. United also is a founding member of Star Alliance, which provides connections for our customers to 1,077 destinations in 175 countries worldwide. United’s 46,000 employees reside in every U.S. state and in many countries around the world. News releases and other information about United can be found at the company’s Web site at united.com.
News Release
| REVENUE PASSENGER MILES (‘000)* | |||||||||
| January 2010 | January 2009 | Change | |||||||
| North America |
4,201,748 | 4,269,378 | -1.6 | % | |||||
| Pacific |
1,798,877 | 1,816,011 | -0.9 | % | |||||
| Atlantic |
1,315,151 | 1,230,230 | 6.9 | % | |||||
| Latin America |
326,074 | 333,506 | -2.2 | % | |||||
| Total International |
3,440,102 | 3,379,747 | 1.8 | % | |||||
| Total Mainline |
7,641,850 | 7,649,125 | -0.1 | % | |||||
| Regional Affiliates |
1,126,938 | 917,675 | 22.8 | % | |||||
| Total Consolidated |
8,768,788 | 8,566,800 | 2.4 | % | |||||
| AVAILABLE SEAT MILES (‘000)* | |||||||||
| North America |
5,364,637 | 5,540,641 | -3.2 | % | |||||
| Pacific |
2,106,664 | 2,355,115 | -10.5 | % | |||||
| Atlantic |
1,715,454 | 1,707,637 | 0.5 | % | |||||
| Latin America |
400,242 | 456,028 | -12.2 | % | |||||
| Total International |
4,222,360 | 4,518,780 | -6.6 | % | |||||
| Total Mainline |
9,586,997 | 10,059,421 | -4.7 | % | |||||
| Regional Affiliates |
1,584,546 | 1,341,974 | 18.1 | % | |||||
| Total Consolidated |
11,171,543 | 11,401,395 | -2.0 | % | |||||
| LOAD FACTOR* | |||||||||
| North America |
78.3 | % | 77.1 | % | 1.2 pts | ||||
| Pacific |
85.4 | % | 77.1 | % | 8.3 pts | ||||
| Atlantic |
76.7 | % | 72.0 | % | 4.7 pts | ||||
| Latin America |
81.5 | % | 73.1 | % | 8.4 pts | ||||
| Total International |
81.5 | % | 74.8 | % | 6.7 pts | ||||
| Total Mainline |
79.7 | % | 76.0 | % | 3.7 pts | ||||
| Regional Affiliates |
71.1 | % | 68.4 | % | 2.7 pts | ||||
| Total Consolidated |
78.5 | % | 75.1 | % | 3.4 pts | ||||
| REVENUE PASSENGERS BOARDED (‘000)* | |||||||||
| Mainline |
4,024 | 4,220 | -4.6 | % | |||||
| Regional Affiliates |
2,021 | 1,730 | 16.8 | % | |||||
| Total Consolidated |
6,045 | 5,950 | 1.6 | % | |||||
| CARGO TON MILES (000)* | |||||||||
| Freight |
123,487 | 88,372 | 39.7 | % | |||||
| |
17,636 | 18,575 | -5.1 | % | |||||
| Total Mainline |
141,123 | 106,947 | 32.0 | % | |||||
| * | Includes Scheduled and Charter Operations. Regional Affiliates results only reflect flights operated under capacity purchase agreements. |
News Release
Historical PRASM Data
| Consolidated | Year-Over-Year | ||||
| PRASM | Change | ||||
| January 2008 |
13.3 | % | |||
| February 2008 |
7.6 | % | |||
| March 2008 |
4.8 | % | |||
| First Quarter 2008 |
11.09 ¢/ASM | 8.3 | % | ||
| April 2008 |
4.6 | % | |||
| May 2008 |
5.5 | % | |||
| June 2008 |
2.0 | % | |||
| Second Quarter 2008 |
12.39 ¢/ASM | 3.9 | % | ||
| July 2008 |
3.8 | % | |||
| August 2008 |
5.8 | % | |||
| September 2008* |
6.0 | % | |||
| Third Quarter 2008* |
13.02 ¢/ASM | 5.2 | % | ||
| October 2008 |
8.5 | % | |||
| November 2008 |
-0.6 | % | |||
| December 2008 |
-2.2 | % | |||
| Fourth Quarter 2008 |
11.96 ¢/ASM | 2.1 | % | ||
| January 2009 |
-6.7 | % | |||
| February 2009 |
-11.2 | % | |||
| March 2009 |
-15.0 | % | |||
| First Quarter 2009 |
9.86 ¢/ASM | -11.1 | % | ||
| April 2009 |
-14.2 | % | |||
| May 2009 |
-17.6 | % | |||
| June 2009 |
-19.5 | % | |||
| Second Quarter 2009 |
10.26 ¢/ASM | -17.2 | % | ||
| July 2009 |
-14.9 | % | |||
| August 2009 |
-15.1 | % | |||
| September 2009 |
-14.2 | % | |||
| Third Quarter 2009 |
11.10 ¢/ASM | -14.7 | % | ||
| October 2009 |
-11.3 | % | |||
| November 2009 |
-4.4 | % | |||
| December 2009 |
1.5 | % | |||
| Fourth Quarter 2009 |
11.34 ¢/ASM | -5.2 | % | ||
| *Excludes special items |
Non-GAAP Reconciliations
| January 2010 | |||
| Mainline fuel price per gallon excluding non-cash, net mark-to-market gains and losses |
$ | 2.22 | |
| Add: Non-cash, net mark to market gains and losses per gallon |
$ | 0.90 | |
| Mainline fuel price per gallon |
$ | 3.12 | |
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