CHICAGO, Sept. 22, 2014 /PRNewswire/ -- United Airlines, Inc. (formerly known as Continental Airlines, Inc., the "Company") on Sept. 19 announced that it has elected to effect an optional redemption of its remaining outstanding 6.0 percent Convertible Junior Subordinated Debentures Due 2030 (the "Debentures") on Oct. 10, 2014, (the "Redemption Date") at a price equal to $50 per $50 principal amount of the Debentures, and that, upon such redemption, the proceeds will be simultaneously applied to redeem the remaining outstanding TIDES. 

The TIDES are convertible into shares of common stock of United Continental Holdings, Inc. (NYSE: UAL), the parent of the Company. The current conversion price of the TIDES is $57.1429 per share of common stock for each $50 principal amount of Debentures (equivalent to a conversion rate of approximately 0.8750 shares of UAL common stock for each $50 in aggregate principal amount of Debentures). Holders will retain the right to convert their TIDES (or portions thereof) into UAL common stock until 5 p.m.New York City time on Oct. 9, 2014, which is the business day immediately preceding the Redemption Date. 

The paying agent and conversion agent for the TIDES is Wilmington Trust Company, 1100 North Market Street, Wilmington, DE 19890, Attention Chad May, Phone: (302) 636-6294, Fax: (302) 636-4140, email: cmay@wilmingtontrust.com.

About United

United Airlines and United Express operate an average of more than 5,200 flights a day to 374 airports across six continents. In 2013, United and United Express operated nearly two million flights carrying 139 million customers. With U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, Newark, San Francisco and Washington, D.C., United operates more than 700 mainline aircraft and, in 2014, will take delivery of 35 new Boeing aircraft, including the 787-9 as the North American launch customer, and will welcome 32 new Embraer 175 aircraft to United Express. The airline is a founding member of Star Alliance, which provides service to 192 countries via 27 member airlines. More than 85,000 United employees reside in every U.S. state and in countries around the world. For more information, visit united.com, follow @United on Twitter or connect on Facebook. The common stock of United's parent, United Continental Holdings, Inc., is traded on the NYSE under the symbol UAL.

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SOURCE United Airlines