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:  October 20, 1999
                   (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     (Commission    (I.R.S. Employer
     of incorporation)           File Number)   Identification No.)

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

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

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


    UAL Corporation (the "Company") is filing herewith a
cautionary statement for purposes of the "Safe Harbor for
Forward-Looking Statements" provision of the Private
Securities Litigation Reform Act of 1995 as Exhibit 99.1.


Exhibit No.     Description
- ----------      -----------

    99.1        Cautionary Statement


        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/ Douglas A. Hacker
                               Name:    Douglas A. Hacker
                               Title:   Executive Vice
                                        President - Finance &
                                        Planning and
                                        Chief Financial Officer

Dated:  October 20, 1999

                                             Exhibit 99.1

                         Cautionary Statement

UAL Corporation ("UAL") and its representatives from time to time
participate in speeches and calls with market analysts, conferences
with investors and potential investors of UAL and United Air Lines,
Inc. securities, and other meetings and conferences.  Some of the
information presented in such speeches, calls, meetings and
conferences may be forward-looking and involves risks and
uncertainties that could result in actual results differing
materially from expected results.

It is not reasonably possible to itemize all of the many factors and
specific events that could affect the outlook of an airline operating
in the global economy.  Some factors that could significantly impact
expected capacity, traffic, load factors, yields, revenues, unit
revenues, expenses, costs, unit costs, fully distributed unit costs,
capital spending, cash flows, pre-tax margins, earnings, fully
distributed earnings, earnings per share, fully distributed earnings
per share and price to earnings ratios include, without limitation,
the airline pricing environment; industry capacity decisions; ticketing
actions by travel agents; the success of the Company's cost control
efforts; Year 2000 readiness; the cost of crude oil and jet fuel; the
results of union contract negotiations and their impact on labor costs;
actions of the U.S., foreign and local governments; foreign currency
exchange rate fluctuations; the Pacific economic environment and travel
patterns; the stability of the U.S. economy; the price of UAL common
stock; inflation; the economic environment of the airline industry and
the economic environment in general.