United Airlines Holdings

United Airlines Holdings, Inc. (NASDAQ: UAL) operates through its wholly-owned subsidiary United Airlines, Inc. as a major North American carrier providing comprehensive air transportation services for passengers and cargo. The company's website is located at www.united.com.

United maintains the most extensive route network among North American carriers, with U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco, and Washington, D.C., plus an additional hub in Guam. The airline operates across six continents, serving destinations throughout North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through a hub-and-spoke system that enables frequent service between numerous destinations and facilitates expansion to new markets with minimal additional aircraft requirements.

As of December 31, 2025, United employed approximately 113,200 people, with roughly 83 percent represented by various U.S. labor organizations. The company's regional operations account for approximately 6.1 percent of total capacity through contractual relationships with regional carriers operating as United Express, including CommuteAir, GoJet Airlines, Mesa Airlines, Republic Airways, and SkyWest Airlines.

United's business model encompasses multiple revenue streams beyond mainline passenger operations. The MileagePlus loyalty program generated significant value in 2025, with approximately 10.9 million flight awards redeemed representing 10.3 percent of total revenue passenger miles. The company maintains a co-brand credit card agreement with JPMorgan Chase Bank. Air cargo operations provide freight and mail transportation services to commercial businesses, freight forwarders, logistics firms, and postal services. Third-party business revenue includes maintenance services, frequent flyer award non-travel redemptions, flight academy services, and ground handling.

United is a member of Star Alliance, the world's largest airline alliance network, which serves more than 1,150 airports across more than 190 countries with approximately 17,500 daily departures. The company maintains bilateral commercial alliance agreements with numerous carriers and participates in four passenger joint business arrangements covering transatlantic, transpacific, and transborder routes.

The United Next strategic plan targets delivery of over 630 new narrow- and widebody aircraft by 2034, with more than 530 aircraft already featuring United's signature interior enhancements. The company has increased employee headcount by more than 38,000 since 2020 and expanded its global network to include new destinations across multiple continents.