United Airlines Holdings, Inc. · NASDAQ:UAL
United Airlines — IPO Roadshow (September 2016)
14 slides from United Airlines's IPO roadshow presentation, Sep 13, 2016
Slide 1: United Airlines 2016-2 EETC Investor Presentation
United Airlines 2016-2 EETC Investor Presentation September 13, 2016 Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-203630-01 Dated September 13, 2016
Slide 2: Free writing prospectus legend
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: United Airlines 2016-2 EETC
United Airlines 2016-2 EETC United Airlines, Inc. (“United” or “UAL”) intends to raise $919,593,000 aggregate face amount of Pass Through Certificates, Series 2016-2 (the “Certificates”) in two classes: Class AA of $636,512,000 Class A of $283,081,000 The proceeds from the offering will be used by U
Slide 4: United Airlines 2016-2 EETC structural summary
United Airlines 2016-2 EETC structural summary Notes 1 Calculated as of the first regular distribution date following the scheduled delivery of all the aircraft; assumed to be October 7, 2017 2 See “Loan to Aircraft Value Ratios” in the preliminary Prospectus Supplement
Slide 5: Key structural elements
Key structural elements Classes offered: Two tranches of amortizing debt, 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 A Certificates is paid ahead of Class AA Certificates’ principal
Slide 6: Aircraft appraisals
Aircraft appraisals United has obtained base value desktop appraisals from three appraisers (AISI, BK and mba)(1) Aggregate aircraft appraised value of approximately $1,675 million(2) Appraisals available in the Preliminary Prospectus Supplement Appraisals indicate a minimum collateral cushion of 61
Slide 7: Aircraft collateral summary
Aircraft collateral summary Notes 1 Lesser of the mean and median of the base values of each aircraft as appraised by AISI, BK and mba. An appraisal is only an estimate of value and should not be relied upon as a measure of realizable value. Appraised value as of August 2016
Slide 8: Aircraft collateral – key observations
Aircraft collateral – key observations The collateral pool benefits from diversification of four strategically core aircraft types 70% Boeing 777-322ER 17% Boeing 787-9 10% Boeing 737-924ER 3% Boeing 737-824 87% widebody / 13% narrowbody All aircraft scheduled to be delivered new to United between D
Slide 9: Collateral overview: Boeing 737-800
Collateral overview Boeing 737-800 Overview: The Boeing 737-800 is the most liquid narrowbody to date, and is expected to remain the most liquid single-aisle aircraft well into the future, with more than 4,100 aircraft in service with 170 operators and another ~900 on order from 53 customers. It sea
Slide 10: Collateral overview (cont'd): Boeing 737-900ER
Collateral overview (cont’d) Boeing 737-900ER Overview: The Boeing 737-900ER is the largest variant of the world’s all-time best selling 737NG family of narrowbody commercial aircraft, with more than 390 aircraft in passenger service with 15 operators and a further 115 on order with six customers. I
Slide 11: Collateral overview (cont'd): Boeing 787-9
Collateral overview (cont’d) Boeing 787-9 Overview: The Boeing 787-9 is United’s new generation long range small to midsize widebody aircraft. The Boeing 787-9 seats 252 passengers in United’s standard two-class configuration (48 Business First / 204 Economy Plus and Economy) Strengths: The Boeing 7
Slide 12: Collateral overview (cont'd): Boeing 777-300ER
Collateral overview (cont’d) Boeing 777-300ER Overview: The Boeing 777-300ER is the best selling widebody variant to date and core long-haul type worldwide, with 665 aircraft sold to date and approximately 135 still on backlog Strengths: The Boeing 777-300ER has cargo capacity of 201.6 cubic meters,
Slide 13: United Polaris business class cabin on the Boeing 777-300ER
The United Polaris business class cabin on the new Boeing 777-300ER aircraft All-aisle access without sacrificing the density of the aircraft The latest in passenger comfort and amenities United Polaris seat provides increased privacy and storage for passengers Similar cost to other all-aisle busine
Slide 14: Ni rep
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