EX-12.1 3 twlone.htm Exhibit 11
Exhibit 12.1


United Air Lines, Inc. and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges


 
Successor 
Predecessor

(In Millions)
Period from February 1 to June 30,
Period from January 1 to January 31,
  

Six Months Ended June 30,
Earnings (losses):
2006
2006
2005
             
Earnings (loss) before income taxes &   adjustments for minority interest and equity            
earnings/(losses) in affiliates
$(100)
  
$22,620 
  
$ (2,486)
  
           
Add (deduct):            
Fixed charges, from below
495 
  
64 
  
374 
  
Distributed earnings of affiliates
3 
  
- 
  
- 
  
Amortization of capitalized interest
- 
  
1 
  
7 
  
Interest capitalized
(7)
  
-
  
5
  
Earnings (loss) as adjusted
$ 391
  
$22,685
  
$ (2,100)
  
             
             
Fixed charges:            
             
Interest expense, including capitalized amounts            
and amortization of debt costs
$ 346 
  
$ 42 
  
$ 231 
  
Portion of rental expense representative            
of the interest factor
149
  
22
  
143
  
Fixed charges
$ 495
  
$ 64
  
$ 374
  
             
             
Ratio of earnings to fixed charges
(a)
  
354.45
  
(a)
  

______________
(a) Earnings were inadequate to cover fixed charges by $104 million and $2.5 billion for the period of February 1 to June 30, 2006 and for the first six months of 2005, respectively.