Exhibit 99.1
Cautionary Statement
====================
UAL Corporation ("UAL") and its representatives from time to time
participate in speeches and calls with market analysts, conferences
with investors and potential investors of UAL and United Air Lines,
Inc. securities, and other meetings and conferences. Some of the
information presented in such speeches, calls, meetings and
conferences may be forward-looking and involves risks and
uncertainties that could result in actual results differing
materially from expected results.
It is not reasonably possible to itemize all of the many factors and
specific events that could affect the outlook of an airline operating
in the global economy. Some factors that could significantly impact
expected capacity, traffic, load factors, yields, revenues, unit
revenues, expenses, costs, unit costs, capital spending, cash flows,
pre-tax margins, earnings, earnings per share, price to earnings
ratios, debt load, and the results and benefits of the pending merger
between United and US Airways include, without limitation, the airline
pricing environment; industry capacity decisions; competitors' route
decisions; the inability to obtain regulatory approvals for the United
and US Airways merger; the inability to successfully integrate the
businesses of United and US Airways; costs related to the United and
US Airways merger; the inability to achieve cost cutting synergies
resulting from the United and US Airways merger; labor integration
issues; the success of the Company's cost control efforts; the cost of
crude oil and jet fuel; the success of fuel hedging strategies; the
results of union contract negotiations and their impact on labor costs
and operations; operational disruptions as a result of bad weather,
air traffic contol-related difficulties, and labor issues; the growth
of e-commerce and off-tariff distribution channels; the success of
customer win-back strategies; the effective deployment of customer
service tools and resources; the willingness of passengers to fly; the
continued benefits of strategic airline alliances; actions of the
U.S., foreign and local governments; foreign currency exchange rate
fluctuations; the stability of the U.S. economy; inflation; the
economic environment of the airline industry and the economic
environment in general.
