United Airlines Holdings, Inc. · NASDAQ:UAL
United Airlines — IPO Roadshow (August 2013)
13 slides from United Airlines's IPO roadshow presentation, Aug 1, 2013
Slide 1: 2013-1 EETC Investor Presentation United Airlines, Inc.
Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-181014-01 August 1, 2013 2013-1 EETC Investor Presentation United Airlines, Inc. August 1, 2013
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: United Airlines 2013-1 EETC
United Airlines 2013-1 EETC • United Airlines, Inc. (“United”) is offering $929,351,000 of Pass Through Certificates, Series 2013-1 in two classes: – Class A of $720,315,000 – Class B of $209,036,000 • The proceeds from the offering will be used by United to finance 21 aircraft: – Finance the purcha
Slide 4: UAL 2013-1 EETC Structural Summary
UAL 2013-1 EETC Structural Summary Class A Class B Principal Amount $720,315,000 $209,036,000 Expected Ratings (S / F) A- / A BB+ / BB+ Initial LTV (1) 55.1% 71.0% Interest Rate Fixed, semi-annual, 30/360 day count Initial Average Life (in years) 9.1 5.9 Regular Distribution Dates February 15 and Au
Slide 5: Key Structural Elements
Key Structural Elements • Classes Offered: Two tranches of amortizing debt offered, both of which will benefit from a liquidity facility covering three semi-annual interest payments • Waterfall: Interest on the Preferred Pool Balance on the Class B Certificates is paid ahead of Class A Certificates’
Slide 6: Collateral Summary
Collateral Summary Aircraft Aircraft Narrow / Manufacturer's Registration Delivery Aircraft Age New Base Value ($MM) No. Type Widebody Serial Number Number Date (years) AISI BK MBA LMM (1) 1 737-924ER Narrow 42818 N68805 Oct-13 New 55.33 52.00 52.82 52.82 2 737-924ER Narrow 42742 N69806 Oct-13 New 5
Slide 7: Collateral Pool
Collateral Pool • The collateral pool benefits from diversification of two strategically core aircraft types – 72% Narrowbody / 28% Widebody Mix – 100% New UAL 2013-1 Collateral Mix Distribution of Appraised Value Widebodies: 28% Narrowbodies: 72% Vintage: 0% New: 100% 787-8 $375MM 737-900ER Total:
Slide 8: Aircraft Appraisals
Aircraft Appraisals • United has obtained Base Value Desktop Appraisals from three appraisers (AISI, BK Associates and Morten Beyer & Agnew) • Aggregate aircraft appraised value of approximately $1,331 million(1) • Appraisals available in the Preliminary Prospectus Supplement • Appraisals indicate a
Slide 9: Collateral Overview: Boeing 737-900ER
Collateral Overview Boeing 737-900ER • Overview: The 737-900ER 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 additional passengers with
Slide 10: Boeing 737-900ER Market Customers for Net Orders
Boeing 737-900ER Market 16 Customers for 526 Net Orders(1) Net orders from customers (180) (137) (100) (38) 177 deliveries to 9 customers (6) (5) (75) (64) (6) (8) (6) (4) (7) (6) (8) (4) (6) (2) (2) (2) (2) (6) (10) (15) (4) Notes: 1. Net orders are defined as gross orders minus cancellations by cu
Slide 11: 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 United’s standard two-class configuration (36 business / 183 premium and regular economy) • Strengths (1): – 58 airlines and leasing companies h
Slide 12: Boeing 787-8/9/10 Market Customers for Net Orders
Boeing 787-8/9/10 Market 58 Customers for 930 Net Orders(1) 519 B787-8 B787-8 / 9 / 10 361 B787-9 1. Sources: The Boeing Company, Net orders are defined as gross orders minus cancellations by customers inclusive of aircraft deliveries through June 2013. Net 12 Orders also includes 50 787-10 aircraft
Slide 13: Slide 13