United Airlines Holdings Inc. (UAL) is a holding company whose principal subsidiary is United Airlines Inc., which provides air transport for people and cargo worldwide. United has hubs throughout the U.S. and service to Europe, Asia, Latin America, Africa, the Middle East, and the Pacific. United Airlines is a member of Star Alliance, a global airline network.

United Airlines' Industry

United deploys aircraft throughout its global network through a single route scheduling system to maximize its value. The company supports three segments: passenger, cargo, and other. United's primary competitors include Delta Air Lines Inc. (DAL) and American Airlines Group Inc. (AAL).

• Passenger: United's passenger revenue is generated from ticket sales for passengers throughout its network. The company recognizes passenger revenue when transportation is provided. This category includes ancillary fees such as premium seats, baggage, inflight amenities, and other ticket-related fees.
• Cargo: United's cargo revenue is generated from the company's freight and mail services business. These services are provided to commercial businesses, freight forwarders and logistic firms, and the United States Postal Service.
  
• Other: United obtains revenue from third-party businesses, which includes maintenance services, flight academy, frequent flyer award non-travel redemptions, and ground handling.

United Airlines' Financials

In Feb. 2024, United Airlines announced financial results for its fiscal year (FY) ending Dec. 31, 2023. The company generated $53.7 billion in total revenue in 2023.

Passenger revenue increased 22.5%, in 2023 compared to 2022, primarily due to increased capacity. Cargo revenue decreased 31.1% in 2023 due to increased market capacity and rate pressures. Third-party revenue increased 15.4% in 2023 due to increased mileage earnings from non-airline partners, including credit card spending and new member acquisitions with credit card partner, JPMorgan Chase Bank, N.A.

History and Leadership

In 1931, four companies Boeing Air Transport, Pacific Air Transport, National Air Transport, and Varney Air Lines, merged to form United Air Lines. From 1934 to 1966, William A. Patterson led United Air Lines to develop domestic service, pioneering the coast-to-coast route from New York to San Francisco via Chicago nicknamed the “Main Line.”  United Air Lines became United Airlines in 1975.

As of 2024, Scott Kirby is the 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) of United Airlines. He served as president from 2016 to 2020 and was elected to his current position in Dec. 2020.

Recent Developments

In 2023, United implemented its "United Next" plan to drive future growth and enhance the customer experience. United exercised options to purchase 50 Boeing 787-9 aircraft scheduled for delivery between 2028 and 2031. United exercised the rights for 60 A321neo aircraft scheduled for delivery between 2028 and 2030.

United launched an agreement with JPMorgan Chase Bank and its MileagePlus credit card. In 2023, nearly 7.4 million MileagePlus flight awards were used on United Airlines, representing 8.1% of United's total revenue passenger miles. 

The Bottom Line

United Airlines generates revenue through passenger travel, cargo transport, and other third-party partnerships. In 2023, total revenue was $53.7 billion, a nearly 20% increase over 2022. The company employs over 100,000 individuals and operates over 4,500 flights daily.