United Airlines Holdings, Inc. · NASDAQ:UAL
United Airlines — Continental Airlines — IPO Roadshow (December 2012)
16 slides from United Airlines's IPO roadshow presentation, Dec 12, 2012
Slide 1: 2012-3 C EETC Investor Presentation Continental Airlines, Inc.
Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-181014-01 December 12, 2012 2012-3 C EETC Investor Presentation Continental Airlines, Inc. December 12, 2012
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 2012-3 C EETC
Continental Airlines 2012-3 C EETC • Continental Airlines, Inc. (“Continental”) is offering $425,000,000 of Class C Pass Through Certificates, Series 2012-3: – Class C Certificates will rank junior to the previously issued Series 2012-1 and Series 2012-2 Certificates – Series C Equipment Notes relat
Slide 4: CAL 2012-3 C EETC Structural Summary
CAL 2012-3 C EETC Structural Summary Class C Principal Amount $425,000,000 Expected Ratings (M/S/F) B1 / B+ / BB- Initial / Highest LTV(1) 82.0% Interest Rate Fixed, semi-annual, 30/360 day count Initial Average Life (in years) 5.3 Regular Distribution Dates April 29 and October 29 Principal Distrib
Slide 5: Key Structural Elements
Key Structural Elements • Classes Offered: One tranche of non-amortizing debt offered • Waterfall: With respect to each Prior Series, Series 2012-1 and Series 2012-2, interest on Preferred Pool Balance on Class C is paid ahead of principal for senior tranches – Series C Equipment Notes issued with r
Slide 6: Key Structural Elements
Key Structural Elements • Cross-Collateralization: The Series C Equipment Notes will be cross- collateralized by all 42 aircraft – Proceeds from the exercise of remedies with respect to an aircraft that secures any Series C Equipment Note will be available to cover shortfalls then due under Series C
Slide 7: Cash Flow Structure
Cash Flow Structure (1) The Equipment Notes with respect to each Aircraft will be issued under a separate Indenture. (2) Advances by Liquidity Providers will not cover any amounts distributable with respect to the Class C Certificates (3) Distributions to the Class C Trustee with respect to each Pri
Slide 8: Collateral Summary - Previously Delivered
Collateral Summary - Previously Delivered Notes: 1. Appraised value is the lesser of the average and median Base Values of each aircraft as appraised by AISI, BK Associates and Morten Beyer & Agnew. An appraisal is only an estimate of value and should not be relied upon as a measure of realizable va
Slide 9: Collateral Summary - Future Deliveries
Collateral Summary - Future Deliveries Notes: 1. Appraised value is the lesser of the average and median Base Values of each aircraft as appraised by AISI, BK Associates and Morten Beyer & Agnew. An appraisal is only an estimate of value and should not be relied upon as a measure of realizable value
Slide 10: Collateral Pool
Collateral Pool • The collateral pool benefits from diversification of two strategically core aircraft types CAL 2012-1 Collateral Mix Distribution of Appraised Value Widebodies: 36.8% Narrowbodies: 63.2% Vintage: 9.6% New: 90.4% B787-8 $497MM Vintage $129MM B737-900ER New $1,222MM $854MM CAL 2012-2
Slide 11: Aircraft Appraisals
Aircraft Appraisals • Continental has obtained Base Value Desktop Appraisals from three appraisers (AISI, BK Associates and Morten Beyer & Agnew) – The values of each aircraft financed under 2012-1 reflect updated appraisals as of November or December 2012 – The values for the 2012-2 aircraft are pe
Slide 12: Collateral Overview Boeing 737-900ER
Collateral Overview Boeing 737-900ER • Overview: The 737-900ER is the largest variant of the 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 additional passengers w
Slide 13: Boeing 737-900ER net orders from customers
Net orders from customers (140) (100) (38) 138 deliveries to 9 customers (14) (10) (64) (47) (6) (4) (7) (6) (4) (1) (2) (3) (2) (6) (8) (15) Notes: 1. Net orders are defined as gross orders minus cancellations Source: The Boeing by customers inclusive of aircraft deliveries, through October 13 Comp
Slide 14: Collateral Overview Boeing 787-8 Dreamliner
Collateral Overview Boeing 787-8 “Dreamliner” • Overview: New generation long range aircraft with size similar to current 767s in fleet - 219 passengers in Continental’s standard two-class configuration (36 business / 183 premium and regular economy) • Strengths(1): – Over 44 airlines and leasing co
Slide 15: Boeing 787-8/9 Market Customers for Firm Orders
Boeing 787-8/9 Market 55 Customers for 838 Firm Orders 523 -8 B787-8 and -9 B787 315 -9 B787 Source: The Boeing Note: As of Company October 31, 2012 15
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