-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PUQ78It27cQHZ+QHc8ij4llR6+KhG0Q0lvb+2JchKmeb1Exk2I8Lnl0eM7L7B7wo 8A9xJmxLBge2EKJkpvQhiA== 0000100517-99-000028.txt : 19990608 0000100517-99-000028.hdr.sgml : 19990608 ACCESSION NUMBER: 0000100517-99-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990604 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990607 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UAL CORP /DE/ CENTRAL INDEX KEY: 0000100517 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] IRS NUMBER: 362675207 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-06033 FILM NUMBER: 99641079 BUSINESS ADDRESS: STREET 1: 1200 ALGONQUIN ROAD CITY: ELK GROVE TOWNSHIP STATE: IL ZIP: 60007 BUSINESS PHONE: 8477004000 MAIL ADDRESS: STREET 1: 1200 ALGONQUIN ROAD CITY: ELK GROVE TOWNSHIP STATE: IL ZIP: 60007 FORMER COMPANY: FORMER CONFORMED NAME: ALLEGIS CORP DATE OF NAME CHANGE: 19880613 FORMER COMPANY: FORMER CONFORMED NAME: UAL INC DATE OF NAME CHANGE: 19870517 8-K 1 SECURITIES AND EXCHANGE COMMISSION 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: June 4, 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) ITEM 5. OTHER EVENTS. ------------ UAL Corporation (the "Company") is filing herewith a press release issued by the Company as Exhibit 99.1 which is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. --------------------------------- Exhibit No. Description - ---------- ----------- 99.1 Press Release 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 By: /s/ Francesca M. Maher ---------------------- Name: Francesca M. Maher Title: Senior Vice President, General Counsel & Secretary Dated: June 4, 1999 EX-99.1 2 Exhibit 99.1 ------------ Corporate Communications Contacts: Main Line (847) 700-5538 Night/Weekend (847) 700-4088 Investor Relations Contact: John Springer (847) 700-7501 UNITED AIRLINES MAY TRAFFIC DECLINES 1.3% CHICAGO, June 4, 1999 -- United Airlines' total scheduled revenue passenger miles (RPMs) declined 1.3 percent in May versus the comparable month in 1998. "Domestic performance in May was weaker than anticipated," said Jim Goodwin, president and chief operating officer. "Our restrictive competitive response to broad-based sale fares from low-cost competitors resulted in lower than expected domestic traffic. Additionally, we encountered implementation problems with the switchover to our new yield management system (ORION cut- over was on April 6). In light of these developments, revenue performance for the second quarter and full year 1999 will be below our original expectations." As a result, United now anticipates second quarter earnings to range between $2.40 to $2.80 per fully distributed share. The company forecasts 1999 fully distributed earnings per share to range between $9.00 and $11.00, while its internal goal remains to earn $11.00 per fully distributed share. The forecasted ranges of fully distributed earnings per share exclude any impact of UAL's sale of up to 17.5 million shares of Galileo. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Information regarding revenue and fully distributed earnings per share is forward-looking, and actual results could differ materially from expected results. Factors that could significantly affect revenue and fully distributed earnings per share include: industry capacity decisions, the airline pricing environment, fuel prices, the success of the Company's cost control efforts, actions of the U.S., foreign and local governments, willingness of customers to travel, the Asian economic environment and travel patterns, foreign currency exchange rate fluctuations, the economic environment of the airline industry and the general economic environment. n.b.: While UAL Corporation reports its earnings under GAAP - - - Generally Accepted Accounting Principles -- a more complete understanding of UAL Corporation's performance may be gained by viewing the results on a pro forma, fully distributed basis. This presentation considers all ESOP shares that will be issued to employees over the course of the ESOP period to be immediately outstanding, thus "fully distributed." Consistent with this presentation, the "ESOP compensation expense" -- which reflects the commitment of stock to employees -- is excluded from fully distributed expenses and ESOP convertible preferred stock dividends are not deducted from earnings attributable to common stockholders. No adjustments are made to fully distributed earnings to reflect future salary increases. As the largest air carrier in the world and the largest majority employee-owned company, United Airlines offers nearly 2,370 flights a day to 138 airports in 27 countries and one U.S. territory. United is a founding member of the Star Alliance, a global network of airlines including Air Canada, Air New Zealand, Ansett Australia, Lufthansa, SAS, Thai Airways International and Varig. All Nippon Airways of Japan will join the Star Alliance in October of 1999. United Airlines' Internet address is http://www.ual.com. - more - 1999 1998 May May PERCENT (000) (000) CHANGE SCHEDULED SERVICE ONLY: REVENUE PLANE MILES 78,063 73,881 5.7 NUMBER OF DEPARTURES 69,145 66,255 4.4 REVENUE PASSENGERS 7,099 7,227 -1.8 REVENUE PASSENGER MILES: NORTH AMERICA 6,480,397 6,517,773 -.6 PACIFIC 1,710,175 2,014,534 -15.1 ATLANTIC 1,554,514 1,353,725 14.8 LATIN AMERICA 440,347 434,498 1.3 TOTAL 10,185,433 10,320,530 -1.3 AVAILABLE SEAT MILES: NORTH AMERICA 9,703,273 9,030,628 7.4 PACIFIC 2,656,414 2,885,375 -7.9 ATLANTIC 2,007,144 1,638,012 22.5 LATIN AMERICA 750,377 784,549 -4.4 TOTAL 15,117,208 14,338,564 5.4 PASSENGER LOAD FACTOR (PERCENT): NORTH AMERICA 66.8 72.2 -5.4pts PACIFIC 64.4 69.8 -5.4pts ATLANTIC 77.4 82.6 -5.2pts LATIN AMERICA 58.7 55.4 3.3pts TOTAL 67.4 72.0 -4.6pts CARGO TON MILES: FREIGHT 211,245 190,847 10.7 MAIL 49,069 48,109 2.0 TOTAL 260,314 238,956 8.9 TOTAL SYSTEM INCLUDING CHARTER: REVENUE PASSENGER MILES 10,190,513 10,324,028 -1.3 AVAILABLE SEAT MILES 15,124,001 14,344,731 5.4 REVENUE PSGR. KM. 16,399,593 16,614,458 -1.3 AVAILABLE SEAT KM. 24,339,055 23,084,976 5.4 TOTAL REVENUE TON MILES 1,279,365 1,271,365 .6 TOTAL AVAIL. TON MILES 2,311,054 2,171,032 6.4 TOTAL REV. TON KM. 1,856,021 1,844,177 .6 TOTAL AVAIL. TON KM. 3,374,139 3,169,707 6.4 (more) YEAR TO YEAR TO PERCENT DATE DATE CHANGE 1999 1998 SCHEDULED SERVICES ONLY (000): REVENUE PLANE MILES 371,485 357,863 3.8 NUMBER OF DEPARTURES 330,359 324,245 1.9 REVENUE PASSENGERS 34,160 33,503 2.0 REVENUE PASSENGER MILES: NORTH AMERICA 31,356,797 30,119,918 4.1 PACIFIC 9,742,873 -6.8 9,084,877 ATLANTIC 5,495,398 17.4 6,451,604 LATIN AMERICA 2,349,062 2,389,243 -1.7 TOTAL 49,242,340 47,747,432 3.1 AVAILABLE SEAT MILES: NORTH AMERICA 45,958,502 43,644,859 5.3 PACIFIC 13,195,520 14,602,237 -9.6 ATLANTIC 8,793,183 7,437,512 18.2 LATIN AMERICA 3,826,615 3,937,881 -2.8 TOTAL 71,773,820 69,622,489 3.1 PASSENGER LOAD FACTOR (PERCENT): NORTH AMERICA 68.2 69.0 -.8pts PACIFIC 68.8 66.7 2.1pts ATLANTIC 73.4 73.9 -.5pts LATIN AMERICA 61.4 60.7 .7pts TOTAL 68.6 68.6 .0pts CARGO TON MILES FREIGHT 955,780 935,142 2.2 MAIL 253,037 251,809 .5 TOTAL 1,208,817 1,186,951 1.8 TOTAL SYSTEM INCLUDING CHARTER REVENUE PASSENGER MILES 49,276,625 47,772,243 3.1 AVAILABLE SEAT MILES 71,828,902 69,664,203 3.1 REVENUE PSGR. KM. 79,300,873 76,879,871 3.1 AVAILABLE SEAT KM. 115,594,252 112,110,602 3.1 TOTAL REVENUE TON MILES 6,136,485 5,964,190 2.9 TOTAL AVAIL. TON MILES 10,955,952 10,495,100 4.4 TOTAL REV. TON KM. 8,901,951 8,652,136 2.9 TOTAL AVAIL. TON KM. 15,995,690 15,322,846 4.4 -UA- -----END PRIVACY-ENHANCED MESSAGE-----