United Comments on Proxy Contest Announced by PAR and Altimeter - United Hub

United Comments On Proxy Contest Announced By PAR And Altimeter

March 08, 2016

CHICAGO, March 8, 2016 /PRNewswire/ -- United Continental Holdings, Inc. (NYSE: UAL) today confirmed that it has been informed by hedge funds PAR Capital Management, Inc. and Altimeter Capital Management, L.P. of their intention to nominate six director candidates for election to the Board of Directors at the Company's 2016 Annual Meeting of Shareholders. The nominees include Gordon Bethune, Brad Gerstner, Barney Harford, Rodney O'Neal, Tina Sharkey and Brenda Yester Baty.  PAR and Altimeter have previously disclosed that they are acting as a group that collectively owns approximately 7.1% of the Company's outstanding shares of common stock.

Henry L. Meyer III, Non-Executive Chairman of the Board, said, "We are deeply disappointed that after United attempted to engage in a constructive, good-faith dialogue with PAR and Altimeter, repeatedly communicated our willingness to make meaningful changes in our Board, publicly announced our intention to name four new independent directors with deep relevant experience and named three of them yesterday, PAR and Altimeter have unilaterally taken this hostile action with no concern that a proxy fight could distract the Company from executing on Oscar's strategic plan."

During United's discussions with PAR and Altimeter, the Company clearly communicated its interest in negotiating a reasonable settlement and, in a show of good faith, offered to amend its bylaws to extend its March 12 director nomination deadline.  Despite the Company's offer, not only were PAR and Altimeter uninterested in extending the deadline, but they also refused to cooperate in making their nominees available to be interviewed – which would be a necessary step for the Board to recommend any of their candidates –  before launching a proxy contest.

Meyer added, "Underscoring our commitment to good corporate governance, and with the benefit of shareholder input, the Board just appointed three new independent directors with deep relevant experience to the Board, and we plan to appoint a fourth new independent director in the near term.  We remain open to engaging in productive conversations with PAR and Altimeter."

Oscar Munoz, who plans to resume the role of President and Chief Executive Officer on March 14, 2016, said, "We have been focused on improving the customer and employee experience at United, and the results are evident in our improved operational and financial performance.  United has emerged as a top performer in on-time arrivals and completion factor among our largest industry peers.  United's 2015 earnings were one of the best in the Company's history, and we made progress shrinking the margin gap with our closest competitors, strengthening our balance sheet, and returning significant cash to shareholders. Our momentum is strong, we are working hard, and we are confident there is substantial upside yet to come."

Yesterday, the Company announced that its Board of Directors had appointed three new highly qualified independent directors to the Board: James A.C. Kennedy, the former President and Chief Executive Officer of T. Rowe Price Group, Inc., Robert A. Milton, the former Chairman and Chief Executive Officer of ACE Aviation Holdings Inc., and previously Chairman, President and Chief Executive Officer of Air Canada, and James M. Whitehurst, President and Chief Executive Officer of Red Hat, Inc., and previously Chief Operating Officer of Delta Air Lines, Inc., effective immediately. 

United's three new directors will be nominated by the Board for re-election at the 2016 Annual Meeting.  The Board expects to appoint a fourth new independent director in the near term, who would also be nominated for re-election at the 2016 Annual Meeting. In connection with the appointment of the new directors, certain current directors will step down from the Board at or in advance of the 2016 Annual Meeting.

For more information, visit http://united.shareholderresource.com.

Forward-looking Statements

This release contains forward-looking statements that reflect the Company's current expectations and beliefs with respect to certain current and future events, including its future plans with respect to the Board and Mr. Munoz's full-time return as President and Chief Executive Officer. Factors that could cause actual events or results to differ significantly from those described in the forward-looking statements include, but are not limited to, those described in Part I, Item 1A., "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2015, as well as other risks and uncertainties set forth from time to time in the reports the Company files with the U.S. Securities and Exchange Commission (the "SEC"). 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.

About United

United Airlines and United Express operate an average of nearly 5,000 flights a day to 342 airports across six continents. In 2015, United and United Express operated nearly two million flights carrying 140 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 more than 700 mainline aircraft, and this year, the airline anticipates taking delivery of 20 new Boeing aircraft, including 737 NGs, 787s and 777s. The airline is a founding member of Star Alliance, which provides service to 192 countries via 28 member airlines. Approximately 84,000 United employees reside in every U.S. state and in countries around the world. For more information, visit http://united.shareholderresource.com, follow @United on Twitter or connect on Facebook. United Continental Holdings, Inc. common stock is traded on the NYSE under the symbol UAL.

Additional Information and Where to Find It

This release may be deemed to be solicitation material in connection with the matters to be considered at the 2016 annual meeting (the "2016 Annual Meeting") of shareholders of United Continental Holdings, Inc. ("UAL").  UAL intends to file a proxy statement and a WHITE proxy card with the SEC in connection with any such solicitation of proxies from UAL shareholders. UAL SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.  Shareholders will be able to obtain any proxy statement, any amendments or supplements thereto and other documents filed by UAL with the SEC for no charge at the SEC's website at www.sec.gov. Copies will also be available at no charge at UAL's website at http://ir.united.com/ in the "Securities Filings" section or by writing to UAL at 233 South Wacker Drive Chicago, Illinois 60606, Attn: Corporate Secretary.

Participants in the Solicitation

UAL and its directors and executive officers may be deemed to be participants in the solicitation of proxies from UAL's shareholders in connection with the matters to be considered at the 2016 Annual Meeting. Investors may obtain information regarding UAL and its directors and executive officers in UAL's Annual Report on Form 10-K for the year ended December 31, 2015, which was filed with the SEC on February 18, 2016, and UAL's definitive proxy statement for its 2015 annual meeting of shareholders (the "2015 Annual Meeting"), which was filed with the SEC on April 24, 2015.  To the extent holdings of UAL securities by UAL's directors or executive officers have changed since the amounts disclosed in the definitive proxy statement for the 2015 Annual Meeting, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 and Statements of Change in Beneficial Ownership on Form 4 filed with the SEC.  More detailed information regarding the identity of potential participants in the solicitation, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the 2016 Annual Meeting.

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SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines to Host 'United Next' Investor Event to Discuss Company Strategy

June 22, 2021

CHICAGO, June 22, 2021 /PRNewswire/ -- United Airlines will hold an investor event to provide an update on the Company's strategy. The event will take place on Tuesday, June 29 at 8:00 a.m. EDT and a live, listen-only webcast of the presentation will be available at ir.united.com.

United Advances Innovation Through Corporate Venture Capital Fund

United Airlines Ventures will invest in high-potential companies focused on sustainability, aerospace, and other innovative technologies
June 10, 2021

CHICAGO, June 10, 2021 /PRNewswire/ -- United Airlines launched a new, corporate venture fund today – United Airlines Ventures – that will allow the airline to continue investing in emerging companies that have the potential to influence the future of travel. The new fund will concentrate on sustainability concepts that will complement United's goal of net zero emissions by 2050 - without relying on traditional carbon offsets - as well as revolutionary aerospace developments and innovative technologies that are expected to create value for customers and United's operation.

Warriors, United Airlines Launch Franchise Fund

Four-Month Program Will Support Small Business Advancement Goals, Provide Resources For Business Growth

June 08, 2021

SAN FRANCISCO The Golden State Warriors and United Airlines announced today the launch of Franchise Fund, a program designed to support minority-owned Bay Area small businesses. For a video explaining Franchise Fund, click here.

United Adding Supersonic Speeds with New Agreement to Buy Aircraft from Boom Supersonic

First U.S. airline to sign commercial agreement with Boom Supersonic

New aircraft will cut travel times in half and operate on up to 100% sustainable aviation fuel

June 03, 2021

CHICAGO and DENVER, June 3, 2021 /PRNewswire/ -- United Airlines today announced a commercial agreement with Denver-based aerospace company Boom Supersonic to add aircraft to its global fleet as well as a cooperative sustainability initiative – a move that facilitates a leap forward in returning supersonic speeds to aviation.

Flying with Pride: United, Chase and Visa Join Forces in Support of LGBTQ+ Equality

Eligible United MileagePlus Visa Cardmembers earn five total miles for every dollar donated to charities supporting the LGBTQ+ community - up to $1,000 per eligible card
June 01, 2021

CHICAGO, June 1, 2021 /PRNewswire/ -- In celebration and support of Pride Month, United Airlines, Chase and Visa are collaborating to reward United Visa Cardmembers who donate to non-profit LGBTQ+ organizations. Between June 1 and June 30, 2021, eligible United MileagePlus Visa Cardmembers will receive five total miles for every dollar up to $1,000 in donations per eligible card made to the following organizations:

United Names Chief Customer Officer Toby Enqvist Executive Vice President

A 25-year industry veteran, Enqvist's promotion reflects airline's commitment to customers
May 28, 2021

CHICAGO, May 28, 2021 /PRNewswire/ -- United announced today that Chief Customer Officer Toby Enqvist has been named the airline's newest executive vice president. Enqvist was promoted yesterday by the United Airlines Holdings, Inc. Board of Directors. The promotion is effective immediately.

United Airlines to Present at the Bernstein 37th Annual Strategic Decisions Conference

May 28, 2021

CHICAGO, May 28, 2021 /PRNewswire/ -- United will present at the Bernstein Strategic Decisions Conference on Thursday, June 3. The presentation will begin at 2:30 p.m. CT / 3:30 p.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.

About United

United's shared purpose is "Connecting People. Uniting the World." For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of UAL is traded on the Nasdaq under the symbol "UAL".

 

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines Names Edward 'Ted' Philip as Non-Executive Chairman of Its Board of Directors

May 27, 2021

CHICAGO, May 27, 2021 /PRNewswire/ -- United Airlines Holdings, Inc. (UAL) today announced that Edward "Ted" Philip will assume the role of non-executive chairman of the board of directors. Philip has served as a United board member since 2016, and as lead director since May 2020. Philip brings nearly three decades of corporate leadership across several industries.

United Sweepstakes Gives Vaccinated Customers a Shot to Win Free Flights, a Year of Travel

"Your Shot to Fly" sweepstakes aims to encourage COVID-19 vaccinations in support of the Biden administration's national effort to encourage people to get vaccinated

United is only U.S. airline where customers can upload COVID-19 testing and vaccination records directly to the airline's app and website via the Travel-Ready Center

May 24, 2021

CHICAGO, May 24, 2021 /PRNewswire/ -- United Airlines is offering its loyalty program members the chance to win free flights for a year's worth of travel, in support of the Biden administration's national effort to encourage more people to get their COVID-19 vaccination.

Under the terms of the "Your Shot to Fly" sweepstakes, any new or existing MileagePlus® member who uploads their vaccination records to the airline's mobile app or website between today and June 22 can be entered to win a roundtrip flight for two, in any class of service, to anywhere in the world United flies. United will give away 30 pairs of tickets throughout the month of June. In addition – on July 1 United will announce five randomly selected lucky MileagePlus members who have entered our sweepstakes for a grand prize of travel for a year for themselves and a companion – also in any class of service, anywhere in the world United flies. For video and photos of the upload process, click here.

United Airlines Applauds Spain's Decision to Reopen to Vaccinated Travelers

United flies to more European destinations than any other U.S. carrier; United will expand its service to Italy and Spain which are opening to tourists
May 21, 2021

CHICAGO, May 21, 2021 /PRNewswire/ -- United Airlines applauds Spain following its decision to reopen travel to vaccinated visitors beginning June 7. The announcement comes following the European Union Council's formal recommendation that EU Member States can reopen to fully vaccinated tourists and United looks forward to welcoming back customers on over 30 daily flights to 16 destinations in Europe this summer, including service between New York/Newark and Barcelona and Madrid.

United to Present at the 14th Annual Wolfe Research Global Transportation & Industrials Conference

May 20, 2021

CHICAGO, May 20, 2021 /PRNewswire/ -- United will present at the 14th Annual Wolfe Research Global Transportation & Industrials Conference on Tuesday, May 25. The presentation will begin at 12:00 p.m. CT / 1:00 p.m. ET.

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