8-K

 

 

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): May 8, 2015

 

 

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

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

 

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

(827) 825-4000

(827) 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))

 

 

 


Item 7.01 Regulation FD Disclosure

On May 8, 2015, United Airlines, Inc., a wholly owned subsidiary of United Continental Holdings, Inc., issued a press release reporting its April 2015 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, 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*    Press Release issued by United Airlines, Inc. dated May 8, 2015

 

* Furnished herewith electronically.


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.

 

UNITED CONTINENTAL HOLDINGS, INC.
UNITED AIRLINES, INC.
By:

/s/ Chris Kenny

Name: Chris Kenny
Title: Vice President and Controller

Date: May 8, 2015


EXHIBIT INDEX

 

Exhibit

No.

  

Description

99.1*    Press Release issued by United Airlines, Inc. dated May 8, 2015

 

* Furnished herewith electronically.
EX-99.1

Exhibit 99.1

 

News Release LOGO

United Airlines

Worldwide Media Relations

872.825.8640

media.relations@united.com

United Reports April 2015

Operational Performance

CHICAGO, May 8, 2015 – United Airlines (UAL) today reported April 2015 operational results.

UAL’s April 2015 consolidated traffic (revenue passenger miles) increased 0.4 percent and consolidated capacity (available seat miles) increased 2.7 percent versus April 2014. UAL’s April 2015 consolidated load factor decreased 1.9 points compared to April 2014.

About United

United Airlines and United Express operate an average of nearly 5,000 flights a day to 373 airports across six continents. In 2014, United and United Express operated nearly two million flights carrying 138 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, New York/Newark, San Francisco and Washington, D.C. United operates nearly 700 mainline aircraft, and this year, the airline anticipates taking delivery of 34 new Boeing aircraft, including the 787-9 and the 737-900ER. United is also welcoming 49 new Embraer E175 aircraft to United Express. The airline is a founding member of Star Alliance, which provides service to 193 countries via 27 member airlines. More than 84,000 United employees reside in every U.S. state and in countries around the world. 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 NYSE under the symbol UAL.

 

LOGO


 

United Reports April 2015 Operational Performance / Page 2

Preliminary Operational Results

 

     April     Year-to-Date  
     2015      2014      Change     2015      2014      Change  

REVENUE PASSENGER MILES (000)

                

Domestic

     7,423,758         7,339,459         1.1%        27,756,505         28,062,569         (1.1%

International

     7,171,048         7,105,883         0.9%        27,498,731         26,719,365         2.9%   

Atlantic

     2,788,148         3,014,648         (7.5%     9,952,611         10,385,322         (4.2%

Pacific

     2,623,551         2,521,308         4.1%        10,699,292         10,153,686         5.4%   

Latin

     1,759,349         1,569,927         12.1%        6,846,828         6,180,357         10.8%   

Mainline

     14,594,806         14,445,342         1.0%        55,255,236         54,781,934         0.9%   

Regional

     2,090,079         2,173,833         (3.9%     7,873,521         8,220,095         (4.2%

Consolidated

     16,684,885         16,619,175         0.4%        63,128,757         63,002,029         0.2%   

AVAILABLE SEAT MILES (000)

                

Domestic

     8,627,780         8,433,575         2.3%        32,718,449         32,804,643         (0.3%

International

     9,342,454         8,924,851         4.7%        35,376,566         34,350,864         3.0%   

Atlantic

     3,734,707         3,706,297         0.8%        13,606,258         14,096,980         (3.5%

Pacific

     3,378,349         3,338,676         1.2%        13,288,957         12,752,500         4.2%   

Latin

     2,229,398         1,879,878         18.6%        8,481,351         7,501,384         13.1%   

Mainline

     17,970,234         17,358,426         3.5%        68,095,015         67,155,507         1.4%   

Regional

     2,534,486         2,598,964         (2.5%     9,678,713         10,018,094         (3.4%

Consolidated

     20,504,720         19,957,390         2.7%        77,773,728         77,173,601         0.8%   

PASSENGER LOAD FACTOR

                

Domestic

     86.0%         87.0%         (1.0) pt        84.8%         85.5%         (0.7) pts   

International

     76.8%         79.6%         (2.8) pts        77.7%         77.8%         (0.1) pts   

Atlantic

     74.7%         81.3%         (6.6) pts        73.1%         73.7%         (0.6) pts   

Pacific

     77.7%         75.5%         2.2 pts        80.5%         79.6%         0.9 pts   

Latin

     78.9%         83.5%         (4.6) pts        80.7%         82.4%         (1.7) pts   

Mainline

     81.2%         83.2%         (2.0) pts        81.1%         81.6%         (0.5) pts   

Regional

     82.5%         83.6%         (1.1) pts        81.3%         82.1%         (0.8) pts   

Consolidated

     81.4%         83.3%         (1.9) pts        81.2%         81.6%         (0.4) pts   

ONBOARD PASSENGERS (000)

                

Mainline

     7,743         7,467         3.7%        29,121         28,696         1.5%   

Regional

     3,674         3,851         (4.6%     13,818         14,522         (4.8%

Consolidated

     11,417         11,318         0.9%        42,939         43,218         (0.6%

CARGO REVENUE TON MILES (000)

                

Total

     212,483         194,386         9.3%        874,638         779,561         12.2%   

(more)


 

United Reports April 2015 Operational Performance / Page 3

Second Quarter Preliminary Fuel Costs Per Gallon

 

Estimated average price per gallon of fuel, excluding hedges

   $1.99 - $2.04

Operating cash-settled hedge loss price per gallon

   $0.11

Estimated average price per gallon of fuel, including operating cash-settled hedges1

   $2.10 - $2.15

Non-operating cash-settled hedge loss price per gallon2

   $0.07

Estimated average price per gallon of fuel, including all cash-settled hedges3

   $2.17 - $2.22

 

1  This price per gallon corresponds to the fuel expense line of the income statement
2  This price per gallon corresponds to the impact of non-operating hedges that appear in the non-operating line of the income statement
3  This price per gallon corresponds to the total economic cost of the company’s fuel consumption including all cash-settled hedges but does not directly correspond to the fuel expense line of the income statement

Preliminary Operational Results

 

     2015     2014     Change  

April On-Time Performance1

     79.4     81.8     (2.4)pts   

April Completion Factor2

     99.0     99.5     (0.5)pts   

 

1  Based on domestic mainline scheduled flights arriving within 14 minutes of scheduled arrival time, according to data published in the DOT Air Travel Consumer Report
2  Mainline completion percentage

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 financial 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,” “forecast,” “guidance,” “outlook” 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 report are based upon information available to us on the date of this report. 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: our ability to comply with the terms of our various financing arrangements; the costs and availability of financing; our ability to maintain adequate liquidity; our ability to execute our operational plans, 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; our ability to utilize our net operating losses; our ability to attract and retain customers; demand for transportation in the markets in which we operate; an outbreak of a disease that affects travel demand or travel behavior; demand for travel and the impact that global economic conditions have on customer travel patterns; excessive taxation and the inability to offset future taxable income; 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); our ability to cost-effectively hedge against increases in the price of aircraft fuel; any potential realized or unrealized gains or losses related to fuel or currency hedging programs; the effects of any hostilities, act of war or terrorist attack; 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; the costs and availability of aviation and other insurance; industry consolidation or changes in airline alliances; competitive pressures on pricing and on demand; our capacity decisions and the capacity decisions of our competitors; U.S. or foreign governmental legislation, regulation and other actions (including open skies agreements and environmental regulations); labor costs; our ability to maintain satisfactory labor relations and the results of the collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; weather conditions; and other risks and uncertainties set forth under Item 1A., Risk Factors, of UAL’s Annual Report on Form 10-K, as well as other risks and uncertainties set forth from time to time in the reports we file with the SEC.

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