UAL CORPORATION COMMENTS ON BUSINESS JETS

UAL Corporation (NYSE: UAL), the holding company whose primary subsidiary is United Airlines, today commented on reports that it is considering entry into the business jet market. In its statement, the company said:

“A key part of UAL Corporation’s strategy is to evaluate new opportunities that have potential to enhance shareholder value, provide synergies with its existing business and which fulfill the needs of its customers. Over the past several months, UAL has explored several aspects of the business aviation market that are important to its premium customers. These areas include fractional ownership of business aircraft, fleet management, business aircraft charter, corporate shuttle products, and links between United’s mainline commercial service and business aviation products outside the United States.

Many corporations and individuals view these products as a necessary supplement to traditional commercial airline service in today’s global, high-paced business environment. They are also products with respect to which a commercial airline such as United could bring significant operational expertise. At the same time, the individualized customer service requirements of the business aviation marketplace encompass a different set of challenges than commercial airlines generally face.

If UAL determines to pursue any such activities, they would be conducted in new wholly separate entities in an environment that could blend the operational excellence and safety standards of United with the very highest standards of customer service consistent, for example, with those found in the world’s best hotels.

UAL points out that unless and until any further announcements are made, there can be no assurance that such operations will be pursued.”