The paper focuses on application of uncertainty quantification techniques to a fluid structure interaction (FSI) problem involving a nonlinear rotating disc with surrounding fluid at high pressure without any dissipations. The deterministic dynamics shows strong influence of system parameters on the coupled FSI behavior. The nonlinear FSI problem has been discussed in detail and the instability mechanism has been presented. Such instabilities are known as flutter in closed medium and has significance in the turbomachinery industries. This gives way to a sudden large amplitude oscillation, known as the Hamiltonian Hopf bifurcation in such FSI systems. Uncertain variations in system parameters have been considered in order to see the effect on the flutter instability. Investigation with spectral uncertainty quantification tool has given the propagation of the input uncertainties on the instability behavior. © 2016 The Authors.