CHICAGO, May 2, 2002—UAL Corporation (NYSE: UAL), the holding company whose primary subsidiary is United Airlines, today announced that its board of directors has selected Deloitte & Touche LLP as the company`s independent auditors for 2002, effective June 1. The selection of Deloitte & Touche follows a thorough search and evaluation process of several independent auditing firms. UAL Corp. does not expect the change of auditing firms to affect the filing of any of the company`s financial statements.
“We look forward to working with our new independent auditors and we`re eager to continue building our professional relationship,” said Senior Vice President and Chief Financial Officer Jake Brace.
Arthur Andersen LLP, independent public accountants, audited UAL Corp`s. financial statements for 2001 and has audited the company`s accounts since it was originally retained in 1935. “We have valued the quality of work and the outstanding service that Arthur Andersen has provided to us for more than 65 years,” said Brace. “However, due to the uncertainty surrounding the future of the firm, UAL`s board of directors felt that it was in the best interest of the company to select new independent auditors.”