United Airlines Holdings, Inc. · NASDAQ:UAL
United Airlines — IPO Roadshow (July 2014)
15 slides from United Airlines's IPO roadshow presentation, Jul 28, 2014
Slide 1: United Airlines, Inc. 2014-2 EETC Investor Presentation
Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-181014-01 July 28, 2014 Issuer28, Filed Registration July 2014-2 Investor United pursuant Free Airlines, EETC 2014 Presentation Writing No. toInc. 333-181014-01 Rule Prospectus July 433(d) 28, 2014
Slide 2: Free writing prospectus legend
The other and Alternatively, 2free at issuer 1-866-718-1649. documents hasthe filed issuer, a the registration any issuer underwriter, hasstatement filed with or(including any thedealer SEC for aparticipating prospectus) more complete with in theinformation the offering SEC forwill about thearrange
Slide 3: United 2014-2 EETC offering summary
United –The Lead Bookrunners: Liquidity 1. Notes: 2. 33. Class 411 12 United new proceeds new Bookrunners: Airlines Airlines, A BBoeing Boeing Embraer will Facility of $823,071,000 $238,418,000 from Deutsche have 2014-2 787-9 Inc. 737-924ER Provider ERJ the the Credit (“United”) aircraft offering ri
Slide 4: Class A and Class B certificate summary
United Class Face Interest Initial Regular Expected Final Section Liquidity interest Depositary withdrawn the 1. 4Note: Calculated aircraft Amount Expected Maturity AAverage LTV(1) 2014-2 payments Rate 1110 Class Distribution Ratings Principal Facility from are Funds Fixed, Protection as $823,071,00
Slide 5: Key structural elements
Key Structural Waterfall: Buy-Out Cross-Default: bankruptcy Cross-Collateralization: Collateral: 5eligible Boeing Rights: Interest Strategically Yes, Elements 787-9 Class onfrom the aircraft BYes, core Classes Preferred Certificateholders dayfrom aircraft one andOffered: 12 day Pool types ofone 18 B
Slide 6: Collateral aircraft summary
Collateral Aircraft 98754321No. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Target 1. Notes: 2. Certificates. Associates, 3. 6assumed Boeing Appraised Collateral Boeing Embraer Type aircraft Aircraft depreciation 737-924ER Type Summary(1) 737-924ER 787-9 Inc. ERJ summary value total: Seria
Slide 7: Collateral pool mix and diversification
Collateral –The United Distribution Embraer 23% Boeing 39% Vintage: 38% Total: 1. Notes: 7out 39% 100% Total of collateral $1,519MM 5Narrowbody 2014-2 737-924ER 787-9 Aircraft New Boeing 0% ERJ Pool of New: 175 $581.5mm pool Collateral LMM 787-9 Value (1) LR, 100% benefits $582.9mm / 38% Appraised a
Slide 8: Aircraft appraisals and collateral cushion
Aircraft United Aggregate Appraisals 1. Notes: out are 82. Total Initial expected of 5has Aircraft Appraisals Boeing collateral aircraft available indicate obtained to have 787-9 Value appraised cushion an base in been aircraft initial as theof value financed Preliminary isJuly value collateral calc
Slide 9: Collateral overview: Boeing 737NG
Collateral Boeing Overview: 737NG Strengths(1): 91–Importance .United US Lowest 526 Ease Source: transcontinental cumulative of 737-900ER family and (and fuel remarketing Overview United The toDelta, consumption others) United: of Boeing narrowbody orders Airlines, inview range to 2012 737-900ER wit
Slide 10: Boeing 737-900ER customers and orders
Boeing 17 (163) (4) 1. 10 Source: Customers (4)(139) (3) 737-900ER (2) The (100) (2) for Boeing 526 (49) Market Cumulative (15) Company; (8) (8)orders Orders(1) (7) (6)(including (6) (5) (5)deliveries) are through June 2014.
Slide 11: Collateral overview: Boeing 787-9
Collateral Boeing Overview: Strengths(1): Overall –Importance 1. 11Approximately First Strong Composite Improvements Increased Larger Fills Source: gap Boeing 787-9 the payload order Overview United New between Boeing to range fuselage United: 787-9 book generation to 20 /Airlines, of passenger the
Slide 12: Boeing 787-9 customers and orders
Boeing 26 (49) 1. 12 Source: Customers (41)787-9 (30) TheMarket (26) for Boeing 409 (26)Cumulative Company; (25) (22) (22) orders Orders(1) (20) are(16) through (15) (15) June(13) 2014. (10) (10) (10) (10) (8) (8) (7) (6) (6) (5) (4) (3) (2)
Slide 13: Collateral overview: Embraer ERJ 175 LR
Collateral Embraer Overview: Strengths(1): –Importance 1. 13Will Combines Better Current Demand Long United Embraer Source: be term, useful ERJ will used fleet Overview United for ERJ Good to improved the utilize 175 the United: to of volume 175 Embraer level replace 211 Airlines, Embraer LRLR the a
Slide 14: Embraer ERJ 175 customers and orderbook
Embraer 20 ERJ As Customer Air Aldus Alitalia American Azul/Trip CIT ECC Flybe GECAS Jetscape LOT Northwest Oman Republic Royal Skywest Suzuyo United Undisclosed Total 1. 14 Source; customers of Canada Lease 4175 Polish Leasing 378 June 35 4Jordanian Air 5Airlines 25-— 5440 LR ERJ 11 Airlines 25211
Slide 15: Slide 15