United Airlines Holdings, Inc. · NASDAQ:UAL
United Airlines — Continental Airlines — IPO Roadshow (November 2010)
11 slides from United Airlines's IPO roadshow presentation, Nov 17, 2010
Slide 1: 2010-1 EETC Investor Presentation
Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-158781 November 17, 2010 2010-1 EETC Investor Presentation Continental Airlines, Inc. November 17, 2010
Slide 2: Registration statement and prospectus notice
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete informati
Slide 3: Continental Airlines 2010-1 EETC
Continental Airlines 2010-1 EETC • Continental Airlines, Inc. (“Continental”) is offering $427,151,000 of Pass Through Certificates, Series 2010-1 in two classes: – Class A of $362,659,000 – Class B of $64,492,000 • The proceeds from the offering will be used by Continental to: – Finance the purchas
Slide 4: CAL 2010-1 EETC Structural Summary
CAL 2010-1 EETC Structural Summary Class A Class B Principal Amount $362,659,000 $64,492,000 Expected Ratings A- / Baa2 BBB- / Ba2 Initial LTV(1) 52.2% 61.5% Interest Rate Fixed, semi-annual, 30/360 day count Initial Average Life 7.4 years 4.7 years Regular Distribution Dates January 12 and July 12
Slide 5: Key Structural Elements
Key Structural Elements • Classes Offered: Two tranches of amortizing debt offered, both of which will benefit from a liquidity facility covering three semi-annual interest payments • Waterfall: Interest on the Preferred Pool Balance on the Class B paid ahead of Class A principal (same as CAL 2009-2
Slide 6: Collateral Summary
Collateral Summary Notes: 1. The available aircraft were part of the CAL 2000-2 EETC which was repaid in full on October 2, 2010 upon the maturity of the A2 tranche 2. Seven of the currently owned aircraft are subject to existing security interests. Such security interests are scheduled to be discha
Slide 7: Diverse Collateral Pool
Diverse Collateral Pool • The collateral pool benefits from diversification of aircraft types and vintage – 68% Narrowbody / 32% Widebody Mix Widebodies Narrowbodies Vintage New 32% 68% 58% 42% 737-800 31% 767- 400ER 32% 737- 737-900 900ER 15% 21%
Slide 8: Aircraft Appraisals
Aircraft Appraisals • Continental has obtained Base Value Desktop Appraisals from three appraisers (AISI, BK Associates and Morten Beyer & Agnew) • Owned Aircraft: Maintenance Adjusted Base Value • New Aircraft: Base Value • Maintenance Adjusted Base Value includes adjustments from the mid-time, mid
Slide 9: Collateral Overview Boeing 737-800
Collateral Overview Boeing 737-800 • Overview: Stretched version of the Boeing 737-700 and developed as a replacement for the discontinued MD-80/ MD-90 models and 737 classic – Has become the mainstay of the US short-haul fleet • Strengths(1): – 737-NG family is the world’s all-time best selling fam
Slide 10: Collateral Overview Boeing 737-900 and 737-900ERs
Collateral Overview Boeing 737-900 and 737-900ERs • Overview: The 737-900/ -900ER is the largest variant of world’s all-time best selling 737NG family of narrowbody commercial aircraft • Strengths(1): – Very similar build and configuration to the 737-800, but longer fuselage accommodates 13 addition
Slide 11: Collateral Overview Boeing 767-400ER
Collateral Overview Boeing 767-400ER • Overview: Newest variant of the 767 family, developed and tailored to meet the changing needs of Boeing’s customers • Strengths(1): – Medium size widebody of choice for Continental and Delta Air Lines – 37 commercial aircraft in service between the two U.S. car