Exhibit 12.1

United Continental Holdings, Inc. and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges

(In millions, except ratios)	2013		2012		2011		2010		2009
Earnings (losses):
Earnings (loss) before income taxes	$	539	$	(724)	$	845	$	253	$	(668)
Add (deduct):
Fixed charges, from below		1,629		1,526		2,017		1,292		949
Amortization of capitalized interest		11		9		7		5		3
Distributed earnings of affiliates		—		—		1		2		2
Interest capitalized		(49)		(37)		(32)		(15)		(10)
Equity earnings in affiliates		(1)		(4)		(6)		(4)		(4)
Earnings as adjusted	$	2,129	$	770	$	2,832	$	1,533	$	272
Fixed charges:
Interest expensed and capitalized and amortization of premiums, debt discounts, issuance costs, and capital expenditures (a)	$	783	$	835	$	949	$	798	$	577
Portion of rental expense representative of the interest factor (d)		846		691		1,068		494		372
Fixed charges	$	1,629	$	1,526	$	2,017	$	1,292	$	949
Ratio of earnings to fixed charges		1.31		(b)		1.40		1.19		(c)

(a) Amortization of debt discounts includes amortization of fresh-start valuation discounts.

(b) Earnings were inadequate to cover fixed charges by $756 million in 2012.

(c) Earnings were inadequate to cover fixed charges by $677 million in 2009.

(d) Imputed interest applied to rent expense.