UAL Announces Proposed Public Offering of Common Stock - United Hub

UAL Announces Proposed Public Offering of Common Stock

April 21, 2020

CHICAGO, April 21, 2020 /PRNewswire/ -- United Airlines Holdings, Inc. (NASDAQ:UAL) today announced an underwritten public offering of 39,250,000 shares of its common stock, subject to market conditions and other factors. Morgan Stanley and Barclays are acting as the underwriters of the offering. The Company has also granted to the underwriters a 30-day option to purchase up to 3,925,000 additional shares. The proceeds from the offering will be used for general corporate purposes.

A registration statement (including prospectus) relating to these securities was filed with the Securities and Exchange Commission (the "SEC") and became effective upon filing. Information about the offering is available in the preliminary prospectus supplement filed by the Company with the SEC today at www.sec.gov. Before investing, please read the prospectus in that registration statement and other documents UAL has filed with the SEC for more complete information about UAL and the offering. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Barclaysprospectus@broadridge.com, telephone: (888) 603-5847 or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.

The offering of these securities is being made solely by means of a prospectus supplement and the accompanying prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Additional Information for Investors

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 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 791 mainline aircraft and the airline's United Express partners operate 581 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

Safe Harbor Statement

Certain statements in this release are forward-looking and thus reflect the Company's current expectations and beliefs with respect to certain current and future events, including the anticipated offering of common stock. Such forward-looking statements are and will be subject to many risks and uncertainties relating to the Company's 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," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" 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 release are based upon information available to the Company on the date of this release. The Company undertakes 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.

The Company's actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: the existing global COVID-19 pandemic and the outbreak of any other disease or similar public health threat that affects travel demand or travel behavior; the final terms of borrowing pursuant to the Loan Program under the CARES Act, if any, and of the grant and promissory note through the Payroll Support Program under the CARES Act; the costs and availability of financing; the Company's ability to maintain adequate liquidity; the Company's ability to comply with the terms of its various financing arrangements; the Company's ability to execute its strategic operating plan, including its growth, revenue-generating and cost-control initiatives; 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); risks of doing business globally, including instability and political developments that may impact its operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; the Company's capacity decisions and the capacity decisions of its competitors; competitive pressures on pricing and on demand; changes in aircraft fuel prices; disruptions in the Company's supply of aircraft fuel; the Company's ability to cost-effectively hedge against increases in the price of aircraft fuel, if it decides to do so; the effects of any technology failures, cybersecurity or significant data breaches; disruptions to services provided by third-party service providers; potential reputational or other impact from adverse events involving the Company's aircraft or operations, the aircraft or operations of its regional carriers or its code share partners or the aircraft or operations of another airline; the Company's ability to attract and retain customers; the effects of any terrorist attacks, international hostilities or other security events, or the fear of such events; the mandatory grounding of aircraft in the Company's fleet; disruptions to the Company's regional network; the impact of regulatory, investigative and legal proceedings and legal compliance risks; the success of the Company's investments in other airlines, including in other parts of the world; industry consolidation or changes in airline alliances; 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; costs associated with any modification or termination of the Company's aircraft orders; disruptions in the availability of aircraft, parts or support from its suppliers; the Company's ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with its union groups; any disruptions to operations due to any potential actions by the Company's labor groups; labor costs; the impact of any management changes; extended interruptions or disruptions in service at major airports where the Company operates; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements, environmental regulations and the United Kingdom's withdrawal from the European Union); the seasonality of the airline industry; weather conditions; the costs and availability of aviation and other insurance; the Company's ability to realize the full value of its intangible assets and long-lived assets; any impact to the Company's reputation or brand image and other risks and uncertainties set forth under Part I, Item 1A., "Risk Factors," of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 as well as other risks and uncertainties set forth from time to time in the reports it files with the SEC.

For further information: United Airlines Worldwide Media Relations, 872-825-8640, media.relations@united.com

United Releases First-Quarter Financial Results - Rebounding Demand is Driving Clear Path to Profitability

Expects positive adjusted EBITDA margins* later this year
April 19, 2021

CHICAGO, April 19, 2021 /PRNewswire/ -- United Airlines (UAL) today announced first-quarter 2021 financial results. The company has its eyes on the future, making continued progress on its commitment to remove $2 billion in structural costs and investing in key customer programs that will position the airline to capitalize on the recovery of business travel and long-haul international demand.

United Airlines Adds New Flights to Croatia, Greece and Iceland as Countries Begin to Reopen to Vaccinated Travelers

United is the only airline that allows customers to upload vaccine results within its mobile app and website through the airline's Travel-Ready Center
April 19, 2021

CHICAGO, April 19, 2021 /PRNewswire/ -- United is adding three new flights to its international network, giving travelers more options for summer travel by flying direct to countries that are starting to reopen to vaccinated visitors. Starting in July, United will offer new direct flights from Newark Liberty International Airport to Dubrovnik, Croatia, from Washington Dulles International Airport to Athens, Greece and from Chicago O'Hare International Airport to Reykjavik, Iceland, all subject to government approval.

United Airlines to Lead Industry Switch to Sustainable Aviation Fuel with Global Corporations, Customers

New United Eco-Skies Alliance Program includes global corporate leaders who, with United, will pay towards more sustainable aviation fuel, all companies invited to participate
April 13, 2021

CHICAGO, April 13, 2021 /PRNewswire/ -- United Airlines continues to lead the industry towards a more sustainable future with the launch of the first-of-its-kind Eco-Skies Alliance SM program. Working with the airline, more than a dozen leading global corporations will collectively contribute towards the purchase of approximately 3.4 million gallons of sustainable aviation fuel (SAF) this year. With its nearly 80% emissions reductions on a lifecycle basis compared to conventional jet fuel, this is enough SAF to eliminate approximately 31,000 metric tons of greenhouse gas emissions, or enough to fly passengers over 220 million miles.

United Sets New Diversity Goal: 50% of Students at New Pilot Training Academy To Be Women and People of Color

United Airlines is only major U.S. airline to own flight school: United Aviate Academy
April 06, 2021

CHICAGO, April 6, 2021 /PRNewswire/ -- United Airlines, the only major U.S. airline to own a flight school, will begin accepting applications today as it embarks on an ambitious plan to train 5,000 new pilots by 2030, at least half of them women and people of color. Backed by scholarship commitments from United Airlines and JPMorgan Chase, United Aviate Academy will create opportunities for thousands of students, including women and people of color to pursue a career as a commercial airline pilot, one of the most lucrative careers in the industry.

United Returns to JFK With Coast-to-Coast Flights and the Most Premium Seats From the NYC Area

Flights feature a reconfigured Boeing 767-300ER airplane with 46 business class seats and 22 United Premium Plus® seats
March 29, 2021

NEW YORK, March 29, 2021 /PRNewswire/ -- United is back at John F. Kennedy Airport (JFK), now operating direct service to the airline's West Coast hubs – Los Angeles International Airport (LAX) and San Francisco International Airport (SFO) from New York City. The airline will use its Boeing 767-300ER aircraft which features 46 business class all-aisle-access seating, and 22 United Premium Plus® seats. The airline operates the most premium seats between the New York City area and Los Angeles and San Francisco combined.

United to Hold Webcast of First-Quarter 2021 Financial Results

March 26, 2021

CHICAGO, March 26, 2021 /PRNewswire/ -- United Airlines will hold a conference call to discuss first-quarter 2021 financial results on Tuesday, April 20 at 9:30 a.m. CT/10:30 a.m. ET. A live, listen-only webcast of the conference call will be available at ir.united.com. The company will issue its first-quarter financial results after market close on Monday, April 19.

United Airlines Adds New Direct Flights to Coastal Vacation Destinations Starting Memorial Day Weekend

Airline adds 26 new routes between Midwest cities and popular summer getaway destinations in the South and New England
March 25, 2021

CHICAGO, March 25, 2021 /PRNewswire/ -- As more travelers begin to plan long-awaited getaways with family and friends, United Airlines is kicking off summer vacation season with a robust May schedule that includes the addition of 26 new nonstop routes between Midwest cities such as Cleveland, Cincinnati and Milwaukee and popular vacation destinations such as Hilton Head, S.C.; Pensacola, Fla.; and Portland, Maine. The airline also plans to resume more than 20 domestic routes and will start new service between Orange County, Calif., and Honolulu.

United Airlines to Present at the 2021 J.P. Morgan Industrials Conference

March 09, 2021

CHICAGO, March 9, 2021 /PRNewswire/ -- United Airlines will present at the J.P. Morgan Industrials Conference on Monday, March 15. United Airlines' Chief Executive Officer Scott Kirby will present at the conference beginning at 8:40 a.m. CT / 9:40 a.m. ET.

The live webcast will be available on the investor relations section of United's website at ir.united.com. The company will archive the audio webcast on the website within 24 hours of the presentation, and the webcast will be available for a limited time.

From Airline to Landline: United Offers Seamless Travel from Denver International Airport to Breckenridge and Fort Collins

New luxury bus collaboration allows customers to fly into DEN, have their bags and ski equipment automatically transferred and be driven to Breckenridge and Fort Collins
February 26, 2021

DENVER, Feb. 26, 2021 /PRNewswire/ -- United announced today that it is making it easier for customers to travel to Breckenridge and Fort Collins, Colorado with convenient year-round ground transportation service connecting through its Denver hub. This is the first time Breckenridge has ever been served by an airline and will be Fort Collins' first global network carrier service in 25 years.

United Airlines Names Laysha Ward to Board of Directors

February 24, 2021

CHICAGO, Feb. 24, 2021 /PRNewswire/ -- United Airlines Holdings, Inc. (UAL) announced today that Laysha Ward is joining its Board of Directors. Ward, currently Executive Vice President and Chief External Engagement Officer of Target Corporation, brings an impressive resume with more than three decades of corporate leadership experience to the UAL Board.

United Announces Plans to Begin New Daily Nonstop Service Between Boston Logan and London Heathrow

United will be the only U.S. carrier to offer nonstop service between the nation's top seven business markets and London Heathrow
February 19, 2021

CHICAGO, Feb. 19, 2021 /PRNewswire/ -- United Airlines today announced plans to expand its global route network with new, nonstop service between Boston Logan International Airport and London Heathrow. This new service builds upon United's growing presence in London and provides customers on the East Coast with another convenient option to get to London. United plans to operate its premium Boeing 767-300ER aircraft on the route, with 46 United Polaris Business Class and 22 United Premium Plus seats. The aircraft features the highest proportion of premium seats on any widebody aircraft operated by a U.S. carrier between London and the United States.

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