United Airlines Earns 100% HRC Scorecard on LGBTQ+ Equality - United Hub

United Airlines Earns 100% Score on Human Rights Campaign Foundation's Annual Scorecard on LGBTQ+ Workplace Equality

January 27, 2020

CHICAGO, Jan. 27, 2020 /PRNewswire/ -- United Airlines today announced it has received a perfect score of 100% on the 2020 Corporate Equality Index (CEI), a premier benchmarking survey and report on corporate policies and practices related to LGBTQ+ workplace equality, administered by the Human Rights Campaign (HRC) Foundation. This is the ninth consecutive year the airline receives a 100% score.

"United is proud to receive this recognition as it speaks to our commitment to not only promoting an LGBTQ+-friendly workplace but LGBTQ+-friendly skies," said Kate Gebo, United's Executive Vice President of Human Resources and Labor Relations. "We will continue working with organizations like the Human Rights Campaign to help champion LGBTQ+ inclusion because United believes in breaking down barriers to create a more welcoming world for all who explore it."

"The impact of the Human Rights Campaign's Corporate Equality Index over its 18-year history is profound. In this time, the corporate community has worked with us to adopt LGBTQ+-inclusive policies, practices and benefits, establishing the Corporate Equality Index as a primary driving force for LGBTQ+ workplace inclusion in America and across the globe," said HRC President Alphonso David. "These companies know that protecting their LGBTQ+ employees and customers from discrimination is not just the right thing to do -- it is also the best business decision."

United's commitment to LGBTQ+ equality includes being the first U.S. airline to fully recognize domestic partnerships in 1999 to becoming the first U.S. airline to offer non-binary gender options throughout all of its booking channels in 2019. Additionally, during its Pride Month celebration in 2019, United became the first public company to be inducted into Pride Live's Stonewall Ambassador program

United has partnered with the Human Rights Campaign on training initiatives including educating employees about preferred pronouns and the persistence of gender norms and other steps to make United an inclusive space for both customers and employees. The airline's latest efforts include developing comprehensive training modules and exercises to continue employee education on how to be a better ally in both the workplace and to customers. Over the past year, United has also opened more LGBTQ+ Business Resource Groups across the country, reaching more employees.

Alongside partner organizations, customers and employees, United will continue working to build the world's most inclusive airline. For more information on United's commitment to diversity and inclusion, visit https://hub.united.com/diversity-inclusion-fact-sheet/.

Every customer. Every flight. Every day.

United continues to strengthen its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, United recently:

  • Announced that MileagePlus award miles will never expire
  • Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies
  • Established Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel
  • Launched ConnectionSaver, a digital tool dedicated to improving the experience for customers with connecting flights
  • Instituted PlusPoints, new upgrade benefits for MileagePlus Premier members
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 362 airports across six continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 581 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United is Onboard as the Official Airline of the 92nd Street Y’s Acclaimed Talks Series

January 24, 2020

NEW YORK, January 24, 2020 – United is teaming up with famed New York community and cultural center, the 92nd Street Y (92Y), to serve as the official airline of the nonprofit's renowned Recanati-Kaplan Talks Series for 2020. For decades, 92Y has been home to New York City's largest and most successful talks series, featuring prominent artists, entertainers, musicians, scientists, comedians, political figures, fashion designers, dancers, economists and many others.

Pop TV's Schitt's Creek: A Screening and Conversation with Eugene Levy, Catherine O'Hara, Daniel Levy and Annie Murphy, Moderated by Vanity Fair's Richard Lawson at the 92Y.

Jamie McCarthy/Getty Images

🙂

"United's shared purpose drives us to unite the world by connecting people to what matters most, which is why we are thrilled to be aligned with an organization such as the 92nd Street Y which embodies our brand's commitment," said Jill Kaplan, President, New York / New Jersey for United Airlines. "We are extremely proud to join this iconic institution in treating New Yorkers to another season of compelling commentary and captivating stories that will lift hearts, illuminate minds and bring our community together."

"We are delighted to collaborate with United Airlines for our 2020 season of Recanati-Kaplan Talks," said Susan Engel, executive director of 92Y Talks. "Their generosity helps us to continue to present unforgettable events with some of the most interesting and culturally significant speakers of our times."

Talks for the 2020 season include Larry David, the cast of Schitt's Creek, John Mulaney, Jeffrey Toobin, Paul Krugman, Samantha Bee, Queer Eye's Antoni Porowski, Diane Keaton, Issa Rae, Edie Falco, Seth Rogen, the cast of Outlander, Kevin Kline, Pod Save America's Dan Pfeiffer, Roy Wood Jr., Ronny Chieng, Noah Centineo, Ezra Klein, Malcolm Gladwell, Fareed Zakaria, Ramit Sethi, Glennon Doyle, Nicholas Kristof, Sheryl WuDunn and many more.

Every customer. Every flight. Every day.

United continues to strengthen its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, United recently:

  • Announced that MileagePlus award miles will never expire
  • Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies
  • Established Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel
  • Launched ConnectionSaver, a digital tool dedicated to improving the experience for customers with connecting flights
  • Instituted PlusPoints, new upgrade benefits for MileagePlus Premier members
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 5,000 flights a day to 362 airports across five continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 579 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

About 92Y

92nd Street Y is a world-class, nonprofit cultural and community center that fosters the mental, physical and spiritual health of people throughout their lives, offering: wide-ranging conversations with the world's best minds; an outstanding range of programming in the performing, visual and literary arts; fitness and sports programs; and activities for children and families. 92Y is reimagining what it means to be a community center in the digital age with initiatives like the award-winning #GivingTuesday, launched by 92Y in 2012 and now recognized across the US and in a growing number of regions worldwide as a day to celebrate and promote giving. These kinds of initiatives are transforming the way people share ideas and translate them into action both locally and around the world. More than 300,000 people visit 92Y annually; millions more participate in 92Y's digital and online initiatives. A proudly Jewish organization since its founding in 1874, 92Y embraces its heritage and welcomes people of all backgrounds and perspectives. For more information, visit www.92Y.org.

United Adds 29 New Flights to Miami for the Big Game

January 23, 2020

CHICAGO, Jan. 23, 2020 /PRNewswire/ -- United Airlines is offering football fans across the United States more options to get to Miami for the Big Game. United is offering fans more than 5,600 seats through 29 additional nonstop flights to Miami from its seven U.S. hubs including Los Angeles and seven special point-to-point flights between Kansas City and Miami. Tickets are now available for purchase on united.com.

"This year we're offering football fans from every corner of the country more opportunities than ever to get to Miami for the Big Game including extra flights between San Francisco and Miami and new service between Kansas City and Miami," said Ankit Gupta, United's vice president of Domestic Network Planning. "In addition to our expanded network to Miami for the game, travelers can easily get to Miami via United's 25 daily flights to Fort Lauderdale's Hollywood International Airport from Chicago, Denver, Houston, New York/Newark, San Francisco, Washington Dulles and Cleveland."

United's Big Game Service to Miami


Day

From

To

Frequency

Friday

San Francisco

Miami

3 Flights

Friday

Kansas City

Miami

2 Flights

Friday

Chicago

Miami

5 Flights

Friday

Denver

Miami

1 Flight

Friday

Houston

Miami

5 Flights

Friday

Los Angeles

Miami

1 Flight

Friday

New York/Newark

Miami

8 Flights

Friday

Washington Dulles

Miami

2 Flights





Saturday

San Francisco

Miami

3 Flights

Saturday

Kansas City

Miami

2 Flights

Saturday

Chicago

Miami

5 Flights

Saturday

Denver

Miami

1 Flight

Saturday

Houston

Miami

6 Flights

Saturday

New York/Newark

Miami

6 Flights

Saturday

Washington Dulles

Miami

2 Flights





Monday

Miami

San Francisco

5 Flights

Monday

Miami

Kansas City

3 Flights

Monday

Miami

Chicago

4 Flights

Monday

Miami

Denver

1 Flight

Monday

Miami

Houston

5 Flights

Monday

Miami

Los Angeles

2 Flights

Monday

Miami

New York/Newark

9 Flights

Monday

Miami

Washington Dulles

3 Flights

Every customer. Every flight. Every day.

United continues to strengthen its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, United recently:

  • Announced that MileagePlus award miles will never expire
  • Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies
  • Established Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel
  • Launched ConnectionSaver, a digital tool dedicated to improving the experience for customers with connecting flights
  • Instituted PlusPoints, new upgrade benefits for MileagePlus Premier members
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 362 airports across six continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 581 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

 

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, 872-825-8640, media.relations@united.com

United Airlines Reaches 2020 Adjusted Earnings Per Share Target One Year Ahead Of Schedule

January 21, 2020

CHICAGO, Jan. 21, 2020 /PRNewswire/ -- United Airlines (UAL) today announced it reached its 2020 goal -- first announced in January 2018 -- to achieve adjusted diluted earnings per share (EPS) target2 of $11 to $13 a full year ahead of schedule. The company also achieved full year pre-tax margin growth of 2.6 points, which is expected to outpace its largest competitors for 2019.

  • Reported fourth quarter net income of $641 million, diluted EPS of $2.53, up 50% versus the fourth quarter of 2018, pre-tax earnings of $844 million and pre-tax margin of 7.8 percent, expanding pre-tax margin 2.5 points versus the fourth quarter of 2018.
  • Reported fourth quarter adjusted net income of $676 million, adjusted diluted EPS of $2.67, up 11% versus the fourth quarter of 2018, adjusted pre-tax earnings of $889 million and adjusted pre-tax margin of 8.2 percent, expanding adjusted pre-tax margin 0.5 points versus the fourth quarter of 2018.1
  • Reported full year net income of $3.0 billion, diluted EPS of $11.58, up 51% versus full year 2018, pre-tax earnings of $3.9 billion and pre-tax margin of 9.0 percent, expanding pre-tax margin 2.6 points versus full year 2018.
  • Reported full year adjusted net income of $3.1 billion, adjusted diluted EPS of $12.05, up 32% versus full year 2018, adjusted pre-tax earnings of $4.1 billion and adjusted pre-tax margin of 9.4 percent, expanding adjusted pre-tax margin 1.7 points versus full year 2018.1
  • Consolidated fourth quarter passenger revenue per available seat mile (PRASM) increased 0.8 percent year-over-year.
  • Consolidated fourth quarter unit cost per available seat mile (CASM) decreased 1.3 percent year-over-year and consolidated full year unit cost per available seat mile (CASM) decreased 1.2 percent year-over-year.
  • Consolidated fourth quarter CASM, excluding special charges, third party business expenses, fuel and profit sharing, increased 2.7 percent year-over-year. Consolidated full year CASM, excluding special charges, third-party business expenses, fuel and profit sharing, increased 1.0 percent year-over-year.
  • Repurchased $216 million of its common shares in the fourth quarter of 2019, at an average purchase price of $88.95 per share, bringing share repurchases for full year 2019 to $1.6 billion.

"2019 was a great year for our United team -- highlighted by achieving our $11 to $13 adjusted EPS target a full year ahead of schedule," said Oscar Munoz, CEO of United Airlines. "With a four-quarter streak of expanding profit margins, when all the results are in we expect our full year 2019 pre-tax margin growth to be the highest amongst our largest competitors. When I look at United's fundamental strength, I could not be prouder of what we've accomplished in such a short time. This is the New United we set out to build more than four years ago. As we embark on a new year and decade, I believe the outlook for United's future has never been brighter."

1 Excludes special charges, unrealized gains and losses on investments and imputed interest on certain finance leases. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included in the tables accompanying this release.
2 Excludes special charges and unrealized gains and losses on investments, the nature of which are not determined at this time. Accordingly, UAL does not provide earnings guidance on a GAAP basis.

For more information on UAL's first quarter and full year 2020 guidance, please visit ir.united.com for the company's investor update.

2019 Highlights

Operations and Employees

  • Flew most revenue passengers in company history.
  • Set new company record for most mainline departures with nearly 800,000 departures.
  • Number one in on-time departures at all hubs with direct competitors -- Chicago, Denver and Los Angeles.
  • Hosted Backstage 2019, which brought all 25,000 flight attendants to Chicago for an event which was designed to underscore the important role flight attendants play in delivering great service.
  • Profit sharing for 2019 was on average 45 percent higher per participating employee year-over-year.
  • Launched Aviate, a new pilot recruiting and development program and career website to establish a more structured career path to becoming a United pilot.
  • Hired nearly 9,000 aviation professionals in well paying careers with great benefits in 2019.

Customer Experience

  • Introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next, saving nearly 100,000 connections to be made in 2019.
  • Became the first U.S. airline to offer non-binary gender options throughout all booking channels in addition to providing the option to select the title "Mx." during booking.
  • Announced MileagePlus award miles never expire, giving members a lifetime to use miles on flights, experiences, hotels and more.
  • Announced free live DIRECTV on 211 Boeing 737 United aircraft equipped with seat back TV, providing more than 100 channels of live television.
  • Introduced a re-imagined mobile app to customers featuring a more dynamic experience that updates customers at each step of their travel journey.
  • Customers are now provided three inflight snack options on domestic flights regardless of departure time, including the Stroopwafel.
  • MileagePlus members between the ages of 18 to 22 received a discount on domestic flights when booked through the United mobile app through the end of 2019.
  • Opened the fifth of its award-winning United Polaris Lounges at Los Angeles International Airport.
  • Opened three new United Clubs at Fort Lauderdale-Hollywood International Airport, LaGuardia Airport and Raleigh-Durham International Airport.
  • Announced the addition of more than 1,600 United Polaris® business class and United First seats to nearly 250 international and domestic aircraft.
  • Began flight operations at LaGuardia Airport's new Terminal B Eastern Concourse.
  • Customers can now pre-pay for bags as soon as their ticket is issued. Previously customers had to wait until check-in to pay for their bags.
  • Announced partnership with CLEAR which includes a free or discounted CLEAR membership for U.S.-based MileagePlus members.

Network

  • Announced a total of nine new international routes and two new expanded routes beginning in 2020, including four new daily nonstop flights to Tokyo Haneda Airport.
  • Strengthened the domestic route network with 69 new routes including launching 54 new routes and announcing 15 routes beginning in 2020.
  • Launched 11 new international routes in 2019, including direct flights from Newark Liberty International Airport to Cape Town, South Africa; Prague, Czech Republic; and Naples, Italy.

Fleet

  • Took delivery of 49 aircraft in 2019, including eight Boeing 787-10 aircraft, becoming the first carrier in the world to operate all three Dreamliner models.
  • Signed agreements to purchase 50 Airbus A321 XLR, 20 used Boeing 737-700 aircraft and 20 Embraer E175 aircraft operated by our regional partners.
  • Introduced a brand new and revolutionary regional flying experience with the addition of the two-cabin, 50-seat Bombardier CRJ 550 aircraft.
  • Unveiled next paint design, which brings a refreshed look to its fleet, serving as a visual representation of the airline's ongoing brand evolution.
  • Launched Boeing 767-300ER ultra-premium United Polaris business class configuration on all flights between New York/Newark and Chicago to London-Heathrow.

Community and Environment

  • Launched Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel.
  • Pledged on Giving Tuesday to match up to 10 million MileagePlus miles to featured Miles on a Mission partners.
  • Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies.
  • Made history with the departure of the "Flight for the Planet," the most eco-friendly commercial flight of its kind in the history of aviation.
  • Renewed contract with Boston-based World Energy to purchase up to 10 million gallons of cost-competitive, commercial-scale, sustainable aviation biofuel.
  • Launched Her Art Here, a contest where two women artists were chosen to have their work painted on California- and New York/New Jersey-themed Boeing 757s to uplift underrepresented women artists.
  • Celebrated Women in Aviation International's annual Girls in Aviation Day by hosting more than 500 girls in 14 locations around the world.
  • Became the first public company to be inducted into Pride Live's Stonewall Ambassador program in recognition of the airline's commitment to LGBTQ+ equality.
  • Reached a milestone of 1 million meals packed for charity partner Rise Against Hunger.
  • Donated $1 million to Feeding America's Shutdown Response Fund to directly support the food banks providing food for families of federal workers.

Earnings Call

UAL will hold a conference call to discuss its fourth quarter and full year 2019 financial results as well as its financial and operational outlook for first quarter and full year 2020 on Wednesday, January 22, at 9:30 a.m. Central time / 10:30 a.m. Eastern time. A live, listen-only webcast of the conference call will be available at ir.united.com. The webcast will be available for replay within 24 hours of the conference call and then archived on the website for three months.

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 362 airports across six continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 581 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as "expects," "will," "plans," "anticipates," "indicates," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: our ability to execute our strategic operating plan, including our growth, revenue-generating and cost-control initiatives; general economic conditions (including interest rates, foreign currency exchange rates, investment or credit market conditions, crude oil prices, costs of aircraft fuel and energy refining capacity in relevant markets); risks of doing business globally, including instability and political developments that may impact our operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; our capacity decisions and the capacity decisions of our competitors; competitive pressures on pricing and on demand; changes in aircraft fuel prices; disruptions in our supply of aircraft fuel; our ability to cost-effectively hedge against increases in the price of aircraft fuel, if we decide to do so; the effects of any technology failures or cybersecurity breaches; disruptions to services provided by third-party service providers; potential reputational or other impact from adverse events involving our aircraft or operations, the aircraft or operations of our regional carriers or our code share partners or the aircraft or operations of another airline; our ability to attract and retain customers; the effects of any terrorist attacks, international hostilities or other security events, or the fear of such events; the mandatory grounding of aircraft in our fleet; disruptions to our regional network; the impact of regulatory, investigative and legal proceedings and legal compliance risks; the success of our investments in other airlines, including in other parts of the world; industry consolidation or changes in airline alliances; the ability of other air carriers with whom we have alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; costs associated with any modification or termination of our aircraft orders; disruptions in the availability of aircraft, parts or support from our suppliers; our ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; labor costs; an outbreak of a disease that affects travel demand or travel behavior; the impact of any management changes; extended interruptions or disruptions in service at major airports where we operate; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements, environmental regulations and the United Kingdom's withdrawal from the European Union); the seasonality of the airline industry; weather conditions; the costs and availability of aviation and other insurance; the costs and availability of financing; our ability to maintain adequate liquidity; our ability to comply with the terms of our various financing arrangements; our ability to realize the full value of our intangible assets and long-lived assets; and other risks and uncertainties set forth under Part I, Item 1A., "Risk Factors," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, as well as other risks and uncertainties set forth from time to time in the reports we file with the U.S. Securities and Exchange Commission.

-tables attached-

On January 1, 2019, United Airlines Holdings, Inc. ("UAL") adopted Accounting Standards Update No. 2016-02, Leases ("Topic 842"). As such, certain previously reported 2018 figures are adjusted in this report on a basis consistent with Topic 842.

UNITED AIRLINES HOLDINGS, INC,

STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED)




Three Months Ended
December 31,


%
Increase/
(Decrease)



Year Ended
December 31,


%
Increase/
(Decrease)


(In millions, except per share data)


2019


2018




2019


2018



Operating revenue:















Passenger


$

9,933



$

9,556



3.9




$

39,625



$

37,706



5.1



Cargo


316



334



(5.4)




1,179



1,237



(4.7)



Other operating revenue


639



601



6.3




2,455



2,360



4.0



Total operating revenue


10,888



10,491



3.8




43,259



41,303



4.7


















Operating expense:















Salaries and related costs


3,078



2,924



5.3




12,071



11,458



5.3



Aircraft fuel


2,249



2,380



(5.5)




8,953



9,307



(3.8)



Regional capacity purchase


725



650



11.5




2,849



2,649



7.6



Landing fees and other rent


650



627



3.7




2,543



2,449



3.8



Depreciation and amortization


606



558



8.6




2,288



2,165



5.7



Aircraft maintenance materials and outside repairs


475



434



9.4




1,794



1,767



1.5



Distribution expenses


417



396



5.3




1,651



1,558



6.0



Aircraft rent


67



78



(14.1)




288



433



(33.5)



Special charges (B)


130



301



NM




246



487



NM



Other operating expenses


1,630



1,508



8.1




6,275



5,801



8.2



Total operating expense


10,027



9,856



1.7




38,958



38,074



2.3


















Operating income


861



635



35.6




4,301



3,229



33.2


















Operating margin


7.9

%


6.1

%


1.8

pts.



9.9

%


7.8

%


2.1

pts.

















Nonoperating income (expense):















Interest expense


(161)



(173)



(6.9)




(731)



(670)



9.1



Interest capitalized


20



19



5.3




85



65



30.8



Interest income


30



31



(3.2)




133



101



31.7



Unrealized gains (losses) on investments, net (B)


81



56



44.6




153



(5)



NM


Miscellaneous, net


13



(15)



NM




(27)



(72)



(62.5)



Total nonoperating expense


(17)



(82)



(79.3)




(387)



(581)



(33.4)


















Income before income taxes


844



553



52.6




3,914



2,648



47.8


















Pre-tax margin


7.8

%


5.3

%


2.5

pts.



9.0

%


6.4

%


2.6

pts.

















Income tax expense (D)


203



92



120.7




905



526



72.1



Net income


$

641



$

461



39.0




$

3,009



$

2,122



41.8


















Diluted earnings per share


$

2.53



$

1.69



49.7




$

11.58



$

7.67



51.0



Diluted weighted average shares


253.4



272.7



(7.1)




259.9



276.7



(6.1)


















NM Not meaningful
















 

UNITED AIRLINES HOLDINGS, INC.

PASSENGER REVENUE INFORMATION AND STATISTICS


Passenger revenue information is as follows (in millions, except for percentage changes):



4Q 2019

Passenger

Revenue


4Q 2018

Passenger

Revenue (a)


Reporting Adjustments (b)


4Q 2018

Passenger

Revenue (b)


Passenger

Revenue

vs.

4Q 2018 (b)


PRASM vs. 4Q 2018 (b)


Yield vs. 4Q 2018 (b)


Available

Seat Miles

vs.

4Q 2018


4Q 2019 Available Seat Miles


4Q 2019 Revenue Passenger Miles

Domestic

$

6,338



$

6,088



$

52



$

6,140



3.2%


0.6%


1.5%


2.6%


40,612


34,051





















Atlantic

1,616



1,535



(30)



1,505



7.4%


(0.2%)


(1.3%)


7.6%


12,649


10,373

Pacific

1,088



1,139



(31)



1,108



(1.8)%


(1.2)%


(1.9)%


(0.7%)


11,098


8,653

Latin America

891



794



9



803



11.0%


6.3%


5.8%


4.4%


6,679


5,556

International

3,595



3,468



(52)



3,416



5.2%


1.5%


0.5%


3.8%


30,426


24,582





















Consolidated

$

9,933



$

9,556



$



$

9,556



3.9%


0.8%


1.0%


3.1%


71,038


58,633






















(a) As previously reported.

(b) During the third quarter of 2019, United implemented a new revenue accounting software system which allowed it to more precisely determine the geographic regions associated with certain ancillary passenger revenue items. Prior to July 2019, those ancillary revenue items were determined using an allocation method that was based on revenue from passenger travel. While the total passenger revenue is not impacted, the geographic totals for each period are not comparable year-over-year due to the change. The fourth quarter 2018 passenger revenue presented in the table above reallocates these ancillary items using the 2019 allocation.

 

Select operating statistics are as follows:




Three Months Ended
December 31,


%

Increase/

(Decrease)



Year Ended
December 31,


%

Increase/

(Decrease)




2019


2018




2019


2018



Passengers (thousands)


40,306



39,891



1.0




162,443



158,330



2.6



Revenue passenger miles (millions)


58,633



56,968



2.9




239,360



230,155



4.0



Available seat miles (millions)


71,038



68,902



3.1




284,999



275,262



3.5



Passenger load factor:















    Consolidated


82.5

%


82.7

%


(0.2)

pts.



84.0

%


83.6

%


0.4

pts.


    Domestic


83.8

%


84.6

%


(0.8)

pts.



85.2

%


85.4

%


(0.2)

pts.


    International


80.8

%


80.1

%


0.7

pts.



82.4

%


81.3

%


1.1

pts.


Passenger revenue per available seat mile (cents)


13.98



13.87



0.8




13.90



13.70



1.5



Total revenue per available seat mile (cents)


15.33



15.23



0.7




15.18



15.00



1.2



Average yield per revenue passenger mile (cents)


16.94



16.77



1.0




16.55



16.38



1.0



Cargo ton miles


889



902



(1.4)




3,329



3,425



(2.8)



Aircraft in fleet at end of period


1,372



1,329



3.2




1,372



1,329



3.2



Average stage length (miles)


1,446



1,426



1.4




1,460



1,446



1.0



Average full-time equivalent employees


90,264



87,315



3.4




90,116



86,641



4.0



Average aircraft fuel price per gallon


$

2.10



$

2.30



(8.7)




$

2.09



$

2.25



(7.1)



Fuel gallons consumed (millions)


1,071



1,036



3.4




4,292



4,137



3.7





























Note: See Part II, Item 6, Selected Financial Data, of UAL's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, for definitions of these statistics.       


 

UNITED AIRLINES HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


 (In millions)

December 31, 2019


December 31, 2018

ASSETS




Current assets:




Cash and cash equivalents

$

2,762



$

1,694


Short-term investments

2,182



2,256


Receivables, less allowance for doubtful accounts

1,364



1,426


Aircraft fuel, spare parts and supplies, less obsolescence allowance

1,072



985


Prepaid expenses and other

814



733


Total current assets

8,194



7,094






Total operating property and equipment, net

30,170



27,399


Operating lease right-of-use assets

4,758



5,262






Other assets:




Goodwill

4,523



4,523


Intangibles, less accumulated amortization

3,009



3,159


Restricted cash

106



105


Notes receivable, net

671



516


Investments in affiliates and other, net

1,180



966


Total other assets

9,489



9,269


Total assets

$

52,611



$

49,024






LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Advance ticket sales

$

4,819



$

4,381


Accounts payable

2,703



2,363


Frequent flyer deferred revenue

2,440



2,286


Accrued salaries and benefits

2,271



2,184


Current maturities of long-term debt

1,407



1,230


Current maturities of finance leases

46



123


Current maturities of operating leases

686



719


Other

566



553


Total current liabilities

14,938



13,839






Other long-term liabilities and deferred credits:




Long-term debt

13,145



12,215


Long-term obligations under finance leases

220



224


Long-term obligations under operating leases

4,946



5,276


Frequent flyer deferred revenue

2,836



2,719


Postretirement benefit liability

789



1,295


Pension liability

1,446



1,576


Deferred income taxes

1,736



828


Other

1,024



1,010


Total other long-term liabilities and deferred credits

26,142



25,143


Stockholders' equity

11,531



10,042


Total liabilities and stockholders' equity

$

52,611



$

49,024



 

UNITED AIRLINES HOLDINGS, INC.

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED)


 (In millions)

Year Ended
December 31,


2019


2018

Cash Flows from Operating Activities:




Net cash provided by operating activities

$

6,909



$

6,164






Cash Flows from Investing Activities:




Capital expenditures

(4,528)



(4,070)


Purchases of short-term and other investments

(2,897)



(2,552)


Proceeds from sale of short-term and other investments

2,996



2,616


Loans made to others

(174)



(466)


Investment in affiliates

(36)



(139)


Other, net

79



156


Net cash used in investing activities

(4,560)



(4,455)






Cash Flows from Financing Activities:




Proceeds from issuance of long-term debt and airport construction financing

1,847



1,594


Payments of long-term debt

(1,240)



(1,727)


Repurchases of common stock

(1,645)



(1,235)


Principal payments under finance leases

(151)



(79)


Capitalized financing costs

(61)



(37)


Other, net

(30)



(17)


Net cash used in financing activities

(1,280)



(1,501)


Net increase in cash, cash equivalents and restricted cash

1,069



208


Cash, cash equivalents and restricted cash at beginning of the year

1,799



1,591


Cash, cash equivalents and restricted cash at end of the year

$

2,868



$

1,799






Investing and Financing Activities Not Affecting Cash:




Property and equipment acquired through the issuance of debt

$

493



$

143


Right-of-use assets acquired through operating leases

498



663


Property and equipment acquired through finance lease

22



17


Lease modifications and lease conversions

(2)



52


Debt associated with termination of a maintenance service agreement



163






 

 UNITED AIRLINES HOLDINGS, INC.

RETURN ON INVESTED CAPITAL (ROIC)—Non-GAAP


ROIC is a non-GAAP financial measure that UAL believes provides useful supplemental information for management and investors by measuring the effectiveness of the company's operations' use of invested capital to generate profits.


(in millions)

Year Ended
December 31, 2019

Net Operating Profit After Tax ("NOPAT")


Pre-tax income

$

3,914


Adjustments:


  Special charges and unrealized (gains) losses on investments, net:


    Impairment of assets

171


    Severance and benefit costs

16


    Unrealized (gains) losses on investments, net

(153)


    (Gains) losses on sale of assets and other special charges

59


Pre-tax income excluding special charges and unrealized (gains) losses on investments, net (Non-GAAP)

4,007


    add: Interest expense  (net of income tax benefit) (a)

726


    add: Interest component of capitalized aircraft rent  (net of income tax benefit) (a)

154


    add: Net interest on pension (net of income tax benefit) (a)

(19)


    less: Income taxes paid

(29)


NOPAT (Non-GAAP)

$

4,839






Average Invested Capital (five-quarter average)


Total assets

$

51,325


less: Non-interest bearing liabilities (b)

(18,113)


Average invested capital (Non-GAAP)

$

33,212




ROIC (Non-GAAP)

14.6

%




(a)  Income tax benefit measured based on the effective cash tax rate. The effective cash tax rate is calculated by dividing cash taxes paid by pre-tax income excluding special charges and unrealized (gains) losses on investments, net. For the year ended December 31, 2019, the effective cash tax rate was 0.7%.

(b)  Non-interest bearing liabilities include advance ticket sales, frequent flyer deferred revenue, deferred income taxes and other non-interest bearing liabilities.

 

UNITED AIRLINES HOLDINGS, INC.
NON-GAAP FINANCIAL RECONCILIATION


(A)  UAL evaluates its financial performance utilizing various accounting principles generally accepted in the United States of America (GAAP) and Non-GAAP financial measures, including adjusted operating income (loss), adjusted operating margin, adjusted pre-tax income (loss), adjusted pre-tax margin, adjusted net income (loss), adjusted diluted earnings (loss) per share and CASM, excluding special charges, third-party business expenses, fuel, and profit sharing, among others. UAL believes that adjusting for special charges is useful to investors because special charges are not indicative of UAL's ongoing performance. UAL believes that adjusting for unrealized (gains) losses on investments, net is useful to investors because those unrealized gains or losses may not ultimately be realized on a cash basis. UAL believes that adjusting for interest expense related to finance leases of Embraer ERJ 145 aircraft is useful to investors because of the accelerated recognition of interest expense.


CASM is a common metric used in the airline industry to measure an airline's cost structure and efficiency. UAL reports CASM excluding special charges, third-party business expenses, fuel and profit sharing. UAL believes that adjusting for special charges is useful to investors because special charges are not indicative of UAL's ongoing performance. UAL also believes that excluding third-party business expenses, such as maintenance, ground handling and catering services for third parties and fuel sales, provides more meaningful disclosure because these expenses are not directly related to UAL's core business. UAL also believes that excluding fuel costs from certain measures is useful to investors because it provides an additional measure of management's performance excluding the effects of a significant cost item over which management has limited influence. UAL excludes profit sharing because this exclusion allows investors to better understand and analyze our operating cost performance and provides a more meaningful comparison of our core operating costs to the airline industry.


Reconciliations of reported non-GAAP financial measures to the most directly comparable GAAP financial measures are included below.                          




Three Months Ended
December 31,


%

Increase/

(Decrease)


Year Ended
December 31,


%

Increase/

(Decrease)



2019


2018



2019


2018


CASM (cents)













Cost per available seat mile (CASM) (GAAP)


14.11



14.30



(1.3)



13.67



13.83



(1.2)


Special charges (B)


0.18



0.44



NM



0.09



0.18



NM


Third-party business expenses


0.07



0.03



133.3



0.06



0.04



50.0


Fuel expense


3.16



3.46



(8.7)



3.14



3.38



(7.1)


Profit sharing, including taxes


0.17



0.12



41.7



0.17



0.12



41.7


CASM, excluding special charges, third-party business expenses, fuel, and profit sharing (Non-GAAP)


10.53



10.25



2.7



10.21



10.11



1.0



NM Not Meaningful


 

UNITED AIRLINES HOLDINGS, INC.

NON-GAAP FINANCIAL RECONCILIATION (Continued)



Three Months Ended
December 31,


 

Increase/

(Decrease)


%

Increase/

(Decrease)


Year Ended
December 31,


 

Increase/

(Decrease)


%

Increase/

(Decrease)

(in millions)

2019


2018



2019


2018


Operating expenses (GAAP)

$

10,027



$

9,856



$

171



1.7



$

38,958



$

38,074



$

884



2.3


Special charges (B)

130



301



(171)



NM



246



487



(241)



NM


Operating expenses, excluding special charges

9,897



9,555



342



3.6



38,712



37,587



1,125



3.0


Adjusted to exclude:
















Third-party business expenses

48



32



16



50.0



168



121



47



38.8


Fuel expense

2,249



2,380



(131)



(5.5)



8,953



9,307



(354)



(3.8)


Profit sharing, including taxes

123



82



41



50.0



491



334



157



47.0


Adjusted operating expenses (Non-GAAP)

$

7,477



$

7,061



$

416



5.9



$

29,100



$

27,825



$

1,275



4.6


















Operating income (GAAP)

$

861



$

635



$

226



35.6



$

4,301



$

3,229



$

1,072



33.2


Adjusted to exclude:
















Special charges (B)

130



301



(171)



NM



246



487



(241)



NM


Adjusted operating income (Non-GAAP)

$

991



$

936



$

55



5.9



$

4,547



$

3,716



$

831



22.4


Operating margin

7.9

%


6.1

%


1.8



pts.



9.9

%


7.8

%


2.1



pts.


Adjusted operating margin (Non-GAAP) (A)

9.1

%


8.9

%


0.2



pts.



10.5

%


9.0

%


1.5



pts.


















Pre-tax income (GAAP)

$

844



$

553



$

291



52.6



$

3,914



$

2,648



$

1,266



47.8


Adjusted to exclude:
















Special charges (B)

130



301



(171)



NM



246



487



(241)



NM


Unrealized (gains) losses on investments, net (B)

(81)



(56)



(25)



NM



(153)



5



(158)



NM


Interest expense on ERJ 145 finance leases (C)

(4)



13



(17)



NM



64



26



38



NM


Adjusted pre-tax income (Non-GAAP)

$

889



$

811



$

78



9.6



$

4,071



$

3,166



$

905



28.6


Pre-tax margin

7.8

%


5.3

%


2.5



pts.



9.0

%


6.4

%


2.6



pts.


Adjusted pre-tax margin (Non-GAAP) (A)

8.2

%


7.7

%


0.5



pts.



9.4

%


7.7

%


1.7



pts.


















 Net income (GAAP)

$

641



$

461



$

180



39.0



$

3,009



$

2,122



$

887.0



41.8


Adjusted to exclude:
















Special charges (B)

130



301



(171)



NM



246



487



(241)



NM


Unrealized (gains) losses on investments, net (B)

(81)



(56)



(25)



NM



(153)



5



(158)



NM


Interest expense on ERJ 145 finance leases (C)

(4)



13



(17)



NM



64



26



38



NM


Income tax benefit related to adjustments above

(10)



(58)



48



NM



(35)



(116)



81



NM


Special income tax adjustment (D)



(5)



5



NM





(5)



5



NM


Adjusted net income (Non-GAAP)

$

676



$

656



$

20



3.0



$

3,131



$

2,519



$

612



24.3


















 Diluted earnings per share (GAAP)

$

2.53



$

1.69



$

0.84



49.7



$

11.58



$

7.67



$

3.91



51.0


Adjusted to exclude:
















Special charges (B)

0.52



1.10



(0.58)



NM



0.95



1.76



(0.81)



NM


Unrealized (gains) losses on investments, net (B)

(0.32)



(0.21)



(0.11)



NM



(0.59)



0.02



(0.61)



NM


Interest expense on ERJ 145 finance leases (C)

(0.02)



0.05



(0.07)



NM



0.25



0.09



0.16



NM


Income tax benefit related to adjustments

(0.04)



(0.21)



0.17



NM



(0.14)



(0.41)



0.27



NM


Special income tax adjustment (D)



(0.02)



0.02



NM





(0.02)



0.02



NM


Adjusted diluted earnings per share (Non-GAAP)

$

2.67



$

2.40



$

0.27



11.3



$

12.05



$

9.11



$

2.94



32.3



NM Not Meaningful

 

UNITED AIRLINES HOLDINGS, INC.

NON-GAAP FINANCIAL RECONCILIATION (Continued)


UAL believes that adjusting capital expenditures for assets acquired through the issuance of debt and finance leases is useful to investors in order to appropriately reflect the total amounts spent on capital expenditures. UAL also believes that adjusting net cash provided by operating activities for capital expenditures and adjusted capital expenditures is useful to allow investors to evaluate the company's ability to generate cash that is available for debt service or general corporate initiatives.




Three Months Ended
December 31,


Year Ended
December 31,

Capital Expenditures (in millions)


2019


2018


2019


2018

Capital expenditures (GAAP)


$

1,192



$

1,574



$

4,528



$

4,070


Property and equipment acquired through the issuance of debt


187



18



493



143


Property and equipment acquired through finance leases


14



17



22



17


Adjusted capital expenditures (Non-GAAP)


$

1,393



$

1,609



$

5,043



$

4,230











Free Cash Flow (in millions)









Net cash provided by operating activities (GAAP)


$

1,181



$

1,129



$

6,909



$

6,164


Less capital expenditures


1,192



1,574



4,528



4,070


Free cash flow, net of financings (Non-GAAP)


$

(11)



$

(445)



$

2,381



$

2,094











Net cash provided by operating activities (GAAP)


$

1,181



$

1,129



$

6,909



$

6,164


Less adjusted capital expenditures (Non-GAAP)


1,393



1,609



5,043



4,230


Free cash flow (Non-GAAP)


$

(212)



$

(480)



$

1,866



$

1,934


 

UNITED AIRLINES HOLDINGS, INC.

NOTES (UNAUDITED)


(B)     Special charges and unrealized (gains) losses on investments, net include the following:




Three Months Ended
December 31,


Year Ended
December 31,

(In millions)


2019


2018


2019


2018

Operating:









Impairment of assets


$

102



$

232



$

171



$

377


Severance and benefit costs


2



7



16



41


Termination of an engine maintenance service agreement




64





64


(Gains) losses on sale of assets and other special charges


26



(2)



59



5


     Total special charges


130



301



246



487


Nonoperating unrealized (gains) losses on investments, net


(81)



(56)



(153)



5


     Total special charges and unrealized (gains) losses on investments, net


49



245



93



492


Income tax benefit related to special charges and unrealized (gains) losses on investments, net


(11)



(55)



(21)



(110)


Income tax adjustment (D)




(5)





(5)


     Total special charges and unrealized (gains) losses on investments, net of income taxes


$

38



$

185



$

72



$

377



Impairment of assets:


2019 Routes: During the three months ended December 31, 2019, the company recorded an impairment charge of $90 million associated with its Hong Kong routes. The company conducted its annual impairment review of intangible assets in the fourth quarter of 2019, which consisted of a comparison of the book value of specific assets to the fair value of those assets calculated using the discounted cash flow method. Due to a decrease in demand for the Hong Kong market and the resulting decrease in unit revenue, the company determined that the value of its Hong Kong routes had been fully impaired. Notwithstanding such impairments, the collateral pledged under the company's term loan continues to be sufficient to satisfy the loan covenants.


2019 Other:  During the year ended December 31, 2019, the company recorded a $43 million impairment primarily for surplus Boeing 767 aircraft engines removed from operations, an $18 million charge primarily for the write-off of unexercised aircraft purchase options and $20 million in other aircraft impairments.


2018 Routes: The company conducted its annual impairment review of intangible assets in the fourth quarter of 2018, which consisted of a comparison of the book value of specific assets to the fair value of those assets calculated using the discounted cash flow method. Due to increased costs without sufficient corresponding increases in revenue in the Hong Kong market, the company determined that the value of its Hong Kong routes had been impaired. Accordingly, in the fourth quarter of 2018, the company recorded a special impairment charge of $206 million associated with its Hong Kong routes.


In May 2018, the Brazil–United States open skies agreement was ratified, which provides air carriers with unrestricted access between the United States and Brazil. The company determined that the approval of the open skies agreement impaired the entire value of its Brazil route authorities because the agreement removes all limitations or reciprocity requirements for flights between the United States and Brazil. Accordingly, in the second quarter of 2018, the company recorded a $105 million special charge to write off the entire value of the intangible asset associated with its Brazil routes. This asset was not part of any collateral pledged against any of the company's borrowings. The company continues to maintain its slot assets related to Brazil since airport access is still regulated by slot allocations that are limited by airport facility constraints.


2018 Other: For the three and twelve months ended December 31, 2018, the company also recorded $26 million and $66 million, respectively, of fair value adjustments for aircraft purchased off lease, write-off of unexercised aircraft purchase options and other impairments related to certain fleet types and international slots no longer in use.


Severance and benefit costs:  During the three and twelve months ended December 31, 2019, the company recorded $2 million and $14 million, respectively, of management severance. During the twelve months ended December 31, 2019, the company recorded $2 million of severance and benefit costs related to a voluntary early-out program for its technicians and related employees represented by the International Brotherhood of Teamsters. In the first quarter of 2017, approximately 1,000 technicians and related employees elected to voluntarily separate from the company and received a severance payment, with a maximum value of $100,000 per participant, based on years of service, with retirement dates through early 2019.


During the three and twelve months ended December 31, 2018, the company recorded $3 million and $22 million, respectively, of severance and benefit costs related to the voluntary early-out program for its technicians and related employees, and $4 million and $19 million, respectively, of management severance.


Termination of an engine maintenance service agreement:  In the fourth quarter of 2018, the company recorded a one-time termination charge of $64 million related to one of its engine maintenance service agreements.


(Gains) losses on sale of assets and other special charges: During the three months ended December 31, 2019, the company recorded charges of $14 million for costs related to the transition of fleet types within a regional carrier contract, $10 million for contract terminations and $2 million in other charges.  During the twelve months ended December 31, 2019, in addition to the amounts described above, the company recorded charges of $18 million for the settlement of certain legal matters and $15 million related to contract terminations.


During the three and twelve months ended December 31, 2018, the company recorded $2 million of miscellaneous gains and $5 million of miscellaneous losses, respectively.


Unrealized (gains) losses on investments, net:  During the three and twelve months ended December 31, 2019, the company recorded gains of $63 million and $140 million, respectively, for the change in market value of certain of its equity investments, primarily Azul Linhas Aéreas Brasileiras S.A ("Azul"). Also, during the three and twelve months ended December 31, 2019, the company recorded gains of $18 million and $13 million, respectively, for the change in fair value of certain derivative assets related to equity of Avianca Holdings S.A ("AVH"). For equity investments and derivative assets subject to mark-to-market accounting, the company records gains and losses as part of Nonoperating income (expense): Miscellaneous, net in its statements of consolidated operations.


During the three and twelve months ended December 31, 2018, the company recorded gains of $89 million and $28 million, respectively, for the change in market value of certain of its equity investments, primarily Azul. During the fourth quarter of 2018, the company recorded losses of $33 million for the change in fair value of the derivative assets related to equity of AVH.


(C)    Interest expense related to finance leases of Embraer ERJ 145 aircraft


During the third quarter of 2018, United entered into an agreement with the lessor of 54 Embraer ERJ 145 aircraft to purchase those aircraft in 2019. The provisions of the new lease agreement resulted in a change in accounting classification of these new leases from operating leases to finance leases up until the purchase date. As a result of this change, the company recognized a $4 million reduction in interest expense, and $64 million of additional interest expense, respectively, in the three and twelve months ended December 31, 2019, and $13 million and $26 million, respectively, of additional interest expense in the three and twelve months ended December 31, 2018.


(D)    Effective tax rate


The company's effective tax rate for the three and twelve months ended December 31, 2019 was 24.1% and 23.1%, respectively. The effective tax rate for the three and twelve months ended December 31, 2018 was 16.6% and 19.9%, respectively. The effective tax rate represents a blend of federal, state and foreign taxes and includes the impact of certain nondeductible items and the impact of a change in the company's mix of domestic and foreign earnings. The rates for the 2018 periods were impacted by a one-time benefit of $5 million due to the passage of the Tax Cuts and Jobs Act in December 2017.

 

 

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, 872.825.8640, media.relations@united.com

First of Its Kind Jet to Shuttle Travelers Between the Beltway and the Big Apple

January 16, 2020

WASHINGTON, Jan. 17, 2020 /PRNewswire/ -- United Airlines today announced a new hourly shuttle service between Washington's Reagan National Airport and New York/Newark Liberty International Airport. United will operate the world's only two-cabin 50-seat regional aircraft – the Bombardier CRJ-550 on most flights. The CRJ-550 is designed for business and leisure travelers who want true-first-class seating, Wi-Fi, more leg room and enough space for every customer to bring a roller bag on board.

With this new shuttle service, United will now offer more travel opportunities between these two cities than any other airline in the world. Tickets for the 13 daily flights between New York/Newark and Washington, D.C. will be available for purchase beginning January 18 and service starts on March 29.

"Our customers who regularly travel between Washington, D.C. and New York – one of the busiest routes in the country – have told us they value convenient flights and a comfortable ride above all else," said Sarah Murphy, United's senior vice president of United Express. "With our new shuttle service aboard the one-of-a-kind CRJ-550, United Airlines is the only carrier to deliver both."

The CRJ-550 is a first-of-its-kind jet boasting a wide variety of premium amenities, including:

  • 10 seats in United First, 20 seats in Economy Plus, and 20 Economy seats
  • Space for every customer to bring a roller bag on board.
  • A self-serve refreshment center for United First customers featuring a wide assortment of snacks and beverages.
  • More overall legroom per seat than any other 50-seat aircraft flown by a U.S. airline.
  • The ability to stay connected while in flight with United Wi-Fi.

United's daily shuttle service between New York/Newark-and D.C. starts March 29, 2020

Depart DCA

Arrive EWR

Aircraft

6:00 a.m.

7:00 a.m.

8:00 a.m.

9:00 a.m.

10:00 a.m.

11:00 a.m.

12:00 p.m.

1:00 p.m.

2:00 p.m.

3:00 p.m.

4:00 p.m.

5:00 p.m.

6:00 p.m.

7:18 a.m.

8:21 a.m.

9:21 a.m.

10:21 a.m.

11:30 a.m.

12:21 p.m.

1:21 p.m.

2:21 p.m.

3:21 p.m.

4:21 p.m.

5:42 p.m.

6:42 p.m.

8:28 p.m.

E-175

CRJ-550

E-175

CRJ-550

CRJ-550

CRJ-550

E-175

CRJ-550

CRJ-550

CRJ-550

CRJ-550

CRJ-550

CRJ-550

Depart EWR

Arrive DCA

Aircraft

6:00 a.m.

7:00 a.m.

8:00 a.m.

9:00 a.m.

11:00 a.m.

12:00 p.m.

1:00 p.m.

2:00 p.m.

3:00 p.m.

4:00 p.m.

5:00 p.m.

6:00 p.m.

8:00 p.m.

7:21 a.m.

8:22 a.m.

9:21 a.m.

10:30 a.m.

12:14 p.m.

1:19 p.m.

2:14 p.m.

3:21 p.m.

4:21 p.m.

5:21 p.m.

6:25 p.m.

8:25 p.m.

9:25 p.m.

E-175

CRJ-550

E-175

CRJ-550

CRJ-550

CRJ-550

CRJ-550

CRJ-550

CRJ-550

CRJ-550

E-175

CRJ-550

CRJ-550


Flight times subject to change.

Every customer. Every flight. Every day.

United continues to strengthen its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, United recently:

  • Announced that MileagePlus award miles will never expire
  • Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies
  • Established Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel
  • Launched ConnectionSaver, a digital tool dedicated to improving the experience for customers with connecting flights
  • Instituted PlusPoints, new upgrade benefits for MileagePlus Premier members
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 362 airports across six continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 581 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

New United x Carhartt Uniforms Hit the "Runway" Right on Time for Winter

January 14, 2020

CHICAGO, Jan. 14, 2020 /PRNewswire/ -- Customers are seeing a new look on United Airlines runways. Welcoming the new year, United is debuting new uniforms designed by Carhartt Company Gear (CCG) exclusively for the airline's 28,000 Technical Operations, Ramp Service and Catering Operations employees. CCG worked directly with United employees for nearly three years to create a collection of uniform pieces that deliver hard-working designs that stand up to the unique demands of their jobs.

"This is more than a fashion statement for United Airlines," said Kate Gebo, executive vice president of Human Resources and Labor Relations at United Airlines. "This highly inclusive design process reflects how highly we value the input of our employees and union leadership. Every day all over the globe our employees on the ground are facing the coldest colds and the hottest hots. Through our partnership with Carhartt – the leader in workwear – we've confidently created a uniform collection enabling our employees to look good and feel good while continuing to deliver the best service for our customers."

Approximately 1,000 employees from both domestic and international operations participated in focus groups and "wear tests" where their input was used to enhance garment features and functionality. The Carhartt collection includes over 50 pieces, each designed to address our below-wing workforce's specific needs, like bottoms with custom-design pockets to fit wands and other tools, color-blocking on hi-visibility gear to address dirt and grime and fabrics designed to address the wide range of climate conditions across our system. As a part of this effort, Carhartt also put an emphasis on the women's collection, ensuring these employees have garments that have both proper fit and function. These various design elements and options created will help employees perform safely and efficiently.

"Carhartt Company Gear offers one of the most comprehensive and innovative workwear solutions in the marketplace and our relationship with United is a testament to our custom product offering," said Andi Donovan, senior vice president of Carhartt Company Gear. "Our goal is to work collaboratively with companies to outfit their entire operation with the best gear that fits their specific needs and based on the feedback we've received from those on the front lines at United, the new uniforms are working hard for each and every one of them."

Download photos and view video of the new uniforms here.

The uniform refresh is part of a larger effort to revamp all United uniforms for more than 75,000 employees. Each decision with United's uniform design partners, Tracy Reese, Brooks Brothers and Carhartt, have been driven by employee feedback, with a focus on high quality fabrics, improved breathability and overall enhanced fit. The next step in this cohesive collection will be to complete a second wear test before revealing final designs from Brooks Brothers and Tracy Reese for flight attendants, pilots, and customer service representatives. United expects to share more information in summer 2020.

This is one of many recent investments United has made in its employees, demonstrating United's evolving employee culture which has been most recently recognized by the popular job search site indeed.com as a Top 50 Workplace for 2019.

Every customer. Every flight. Every day.

United continues to strengthen its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, United recently:

  • Announced that MileagePlus award miles will never expire
  • Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies
  • Established Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel
  • Launched ConnectionSaver, a digital tool dedicated to improving the experience for customers with connecting flights
  • Instituted PlusPoints, new upgrade benefits for MileagePlus Premier members
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 5,000 flights a day to 362 airports across five continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 579 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

About Carhartt

Established in 1889, Carhartt is a global premium workwear brand with a rich heritage of developing rugged products for workers on and off the job. Headquartered in Dearborn, Michigan, with more than 5,500 associates worldwide, Carhartt is family-owned and managed by the descendants of the company's founder, Hamilton Carhartt. For more information, visit www.carhartt.com.

Carhartt Company Gear service model provides a wide range of businesses with the brands iconic and rugged products, which were built to serve and protect hardworking people. Learn more about Carhartt Company Gear partnering with United here: https://www.carhartt.com/LeadGeneratorView?storeId=10201&catalogId=10551&langId=-1&campaign=CCG).

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines to Hold Live Webcast of Fourth-Quarter and Full-Year 2019 Financial Results

January 07, 2020

CHICAGO, Jan. 7, 2020 /PRNewswire/ -- United Airlines will hold a conference call to discuss fourth-quarter and full-year 2019 financial results on Wednesday, January 22, at 9:30 a.m. CT/10:30 a.m. ET. A live, listen-only webcast of the conference call will be available at ir.united.com. The company will issue its fourth-quarter and full-year 2019 financial results and first-quarter 2020 investor update after market close on Tuesday, January 21.

The webcast will be available for replay within 24 hours of the conference call and then archived on the website for three months.

Notable Special Charges

For fourth quarter 2019, the company expects to record a special non-cash impairment charge of $90 million associated with its Hong Kong routes. The company conducted its annual impairment review of intangible assets in the fourth quarter of 2019, which consisted of a comparison of the book value of specific assets to the fair value of those assets calculated using the discounted cash flow method. Due to a decrease in demand for the Hong Kong market and the resulting decrease in unit revenue, the company determined that the value of its Hong Kong routes had been fully impaired. Notwithstanding such impairments, the collateral pledged under the company's term loan continues to be sufficient to satisfy the loan covenants.

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 362 airports across six continents. In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York / Newark, San Francisco and Washington, D.C. United operates 791 mainline aircraft and the airline's United Express partners operate 579 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as "expects," "will," "plans," "anticipates," "indicates," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: our ability to execute our strategic operating plan, including our growth, revenue-generating and cost-control initiatives; general economic conditions (including interest rates, foreign currency exchange rates, investment or credit market conditions, crude oil prices, costs of aircraft fuel and energy refining capacity in relevant markets); risks of doing business globally, including instability and political developments that may impact our operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; our capacity decisions and the capacity decisions of our competitors; competitive pressures on pricing and on demand; changes in aircraft fuel prices; disruptions in our supply of aircraft fuel; our ability to cost-effectively hedge against increases in the price of aircraft fuel, if we decide to do so; the effects of any technology failures or cybersecurity breaches; disruptions to services provided by third-party service providers; potential reputational or other impact from adverse events involving our aircraft or operations, the aircraft or operations of our regional carriers or our code share partners or the aircraft or operations of another airline; our ability to attract and retain customers; the effects of any terrorist attacks, international hostilities or other security events, or the fear of such events; the mandatory grounding of aircraft in our fleet; disruptions to our regional network; the impact of regulatory, investigative and legal proceedings and legal compliance risks; the success of our investments in other airlines, including in other parts of the world; industry consolidation or changes in airline alliances; the ability of other air carriers with whom we have alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; costs associated with any modification or termination of our aircraft orders; disruptions in the availability of aircraft, parts or support from our suppliers; our ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; labor costs; an outbreak of a disease that affects travel demand or travel behavior; the impact of any management changes; extended interruptions or disruptions in service at major airports where we operate; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements, environmental regulations and the United Kingdom's withdrawal from the European Union); the seasonality of the airline industry; weather conditions; the costs and availability of aviation and other insurance; the costs and availability of financing; our ability to maintain adequate liquidity; our ability to comply with the terms of our various financing arrangements; our ability to realize the full value of our intangible assets and long-lived assets; and other risks and uncertainties set forth under Part I, Item 1A., "Risk Factors," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, as well as other risks and uncertainties set forth from time to time in the reports we file with the U.S. Securities and Exchange Commission.

 

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United to Connect Two Global Tech Centers with Direct Flights Between San Francisco and Dublin

December 18, 2019

CHICAGO, Dec. 18, 2019 /PRNewswire/ -- Traveling between the Silicon Valley and Dublin, Ireland – two of the world's leading centers of technology and innovation – will soon get a lot easier. Today United Airlines announced that it will launch new daily nonstop service from its hub at San Francisco International Airport to the Irish capital beginning June 5, 2020. United will be the only U.S. airline to offer daily flights direct to Dublin from the West Coast.




"Dublin and the Silicon Valley are two regions synonymous with big tech," said Patrick Quayle, United's Vice President of International Network. "Many global tech companies have a major footprint in both regions, and they need a carrier with an extensive worldwide network to help conveniently connect their business. As the only U.S. airline to serve Ireland from the West Coast, United is uniquely suited to provide the connectivity these companies and economies need to continue thriving."

United will operate its new San Francisco-Dublin daily nonstop flights with the fuel-efficient Boeing 787-8 Dreamliner. With the launch of this new service, United will have more daily business class seats between Dublin and the U.S. this summer than any other domestic airline.

Proposed Flight Schedule, Beginning June 5, 2020*

Flight

Frequency

City Pair

Depart

Arrive

Aircraft

UA 852

Daily

SFO – DUB

3:55 p.m.

9:45 a.m. +1

787-8

UA 853

Daily

DUB – SFO

11:50 a.m.

2:20 p.m.

787-8

*Subject to government approval

United in Ireland

United has proudly served Ireland for more than two decades. With the addition of San Francisco, the airline will offer customers direct flights to Dublin from four of its hubs, including Chicago O'Hare, Washington Dulles and Newark / New York. United provides seasonal service to Shannon, Ireland from Newark / New York as well.

United's San Francisco Hub

From the Bay Area, United operates more than 300 flights each day to over 100 cities in North America, Europe, Asia and Australia – more flights to more destinations than any other airline. Along with Dublin, United offers nonstop service out of San Francisco International to seven major European cities including Amsterdam, Frankfurt, London, Munich, Paris and Zurich. United continues to provide unparalleled access to points across the globe from its SFO hub, adding direct flights to 13 top international destinations since 2013 alone.

Every customer. Every flight. Every day.

In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, this year United:

  • Announced that MileagePlus award miles will never expire
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft
  • Released a new version of the award-winning, most downloaded app in the airline industry
  • Launched a new tool called ConnectionSaver, dedicated to improving the experience for customers with connecting flights
  • Partnered with CLEAR on free or discounted memberships for MileagePlus members
  • Announced PlusPoints, new upgrade benefits for MileagePlus Premier members
  • And introduced products in its amenity kits made exclusively for the airline by luxury skincare line Sunday Riley

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 356 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York / Newark, San Francisco and Washington, D.C. United operates 783 mainline aircraft and the airline's United Express partners operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 27 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines' MileagePlus Named Best Overall Airline Loyalty Program for 16th Year

December 12, 2019

CHICAGO, Dec. 12, 2019 /PRNewswire/ -- For the 16th consecutive year, Global Traveler readers named United Airlines' MileagePlus program the Best Overall Frequent Flyer program in the industry. Global Traveler is a monthly publication with an audience of over half a million business and luxury travelers who vote in the Global Traveler Reader Survey to determine this award. MileagePlus has earned the top spot for loyalty programs since the survey's first year in 2004.

Readers also voted MileagePlus Best Frequent-Flyer Bonus Program for the seventh consecutive year. The airline's co-brand MileagePlus Club Card from Chase was voted Best Overall Credit Card Program and Best Credit Card Rewards Program for the eighth consecutive year. The United Explorer Card from Chase was named Best Frequent-Flyer Affinity Credit Card Redemptions in this year's survey.

"MileagePlus earning the Best Overall Frequent Flyer program for the 16th straight year is a sweet achievement for us, most importantly because it is voted on by members and frequent travelers around the world," said Luc Bondar, president of MileagePlus and vice president of loyalty at United. "This year we made a number of improvements to the MileagePlus program, including announcing that miles never expire, and we know these changes continue to make MileagePlus an award-winning program for our members."

This year, United made numerous enhancements to MileagePlus to make it a more rewarding loyalty program for members at each level. The airline announced that MileagePlus miles never expire, began offering discounted or free CLEAR memberships for members and introduced an industry leading way for Premier Platinum members and above to manage upgrades with the introduction of PlusPoints. United and Star Alliance offer members more than 1,300 destinations for award travel, more than any other U.S. airline. MileagePlus members also have more ways to earn and use their miles than any other U.S. airline loyalty program including opportunities to use miles for once in a lifetime experiences through MileagePlus Exclusives and opportunities to redeem as low as 1,000 miles for eGift cards.

Every customer. Every flight. Every day.

In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, this year United:

  • Announced that MileagePlus award miles will never expire
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft
  • Released a new version of the award-winning, most downloaded app in the airline industry
  • Launched a new tool called ConnectionSaver, dedicated to improving the experience for customers with connecting flights
  • Partnered with CLEAR on free or discounted memberships for MileagePlus members
  • Announced PlusPoints, new upgrade benefits for MileagePlus Premier members
  • And introduced products in its amenity kits made exclusively for the airline by luxury skincare line Sunday Riley

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 358 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline's United Express partners operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines Announces Leadership Transition

December 05, 2019

CHICAGO, Dec. 5, 2019 /PRNewswire/ -- United Airlines (NASDAQ: UAL) today announced that Oscar Munoz, Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Directors of United Airlines Holdings, Inc. in May 2020. As CEO, Munoz has transformed United's culture and set new standards of operational and financial performance. J. Scott Kirby, President, will succeed Munoz as Chief Executive Officer.

"With United in a stronger position than ever, now is the right time to begin the process of passing the baton to a new leader," Munoz said. "One of my goals as CEO was to put in place a successful leadership transition for United Airlines. I brought Scott to United three years ago, and I am confident that there is no one in the world better equipped to lead United to even greater heights. It has been the honor of my career to lead the 95,000 dedicated professionals who serve United's customers every day. I look forward to continuing to work closely with Scott in the months ahead and supporting the company's ongoing success in my new role."

Kirby was recruited to United Airlines by Munoz in August 2016, after a three-decade career in the commercial airline business. His appointment reflects a commitment from Munoz and the Board to preserve leadership continuity and demonstrates confidence in the airline's strategy and current trajectory.

"When I joined United as CEO, I laid out ambitious goals to build a new spirit of United by regaining the trust of our employees and customers – and I'm proud of how far we've come," Munoz said. "Along with the successful implementation of the plan our team laid out in January 2018, United's operational and financial performance isn't just better – it's better than ever. By instilling a culture of 'proof not promise,' we have transformed United even faster than we expected and there's an incredible sense of excitement about the future."

Kirby, a highly-regarded industry leader, has played a pivotal role in enabling United's cultural transformation and successfully executing the company's strategic growth plan.

"I am honored to be named the next CEO of United and to succeed Oscar, whose leadership has been truly transformational for United Airlines," Kirby said. "I look forward to working with Oscar, the Board, our established leadership team and every United employee as we drive forward our proven strategy and focus on being the airline customers choose to fly and return to time and again."

Munoz will serve as Executive Chairman for a one-year term and will continue to work closely with Kirby, the Board and the United team in shaping United's employee and customer-centric culture. He will also lead the company's Board and continue to engage on behalf of United with a range of external stakeholders.

As part of this transition, United's current Chairman, Jane Garvey, will retire from the Board in May 2020 after more than a decade of exceptional service, including serving as Chairman since May 2018. At the request of the Board, Garvey agreed to remain in her role for a year beyond the Board's mandatory retirement age.

"On behalf of the Board of Directors, I cannot thank Oscar enough for his outstanding leadership and commitment to United, and we are pleased that we will continue to benefit from his expertise and experience in his role as Executive Chairman," Garvey said. "Oscar became CEO at one of the most challenging points in United's history, and his focus on putting customers and employees first has transformed United's culture today and successfully positioned the company for tomorrow. One of Oscar's greatest legacies is the best-in-class leadership team he has built, and we have full confidence that Scott is the ideal candidate to lead United into the bright future that lies ahead."

The company also announced that Ted Philip will become Lead Independent Director following the 2020 Annual Meeting of Shareholders. Philip joined the Board in July 2016 and chairs the Nominating/Governance Committee. He also currently serves on the Board of Directors of Hasbro, Inc. and BRP Inc.

"I could not be more excited about the opportunity that we have at United over the next several years to fulfill this airline's incredible potential," Philip said. "I am proud to work alongside Oscar in guiding United's Board and leadership team, and I am eager to get to work on delivering for all of our stakeholders. The entire Board and I want to thank Jane for her many contributions to United over the last decade, including her highly successful tenure as Chairman."

All of the changes announced today will take effect following the company's Annual Meeting of Shareholders, scheduled for May 20, 2020.

Every customer. Every flight. Every day.

In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's news, United recently announced that MileagePlus miles will now never expire, giving members a lifetime to use miles on flights and experiences. Customers now have more free on board snack options as well, with a choice of Lotus Biscoff cookies, pretzels and the Stroopwafel. The airline also recently released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver – a tool dedicated to improving the experience for customers connecting from one United flight to the next – and launched PlusPoints, a new upgrade benefit for MileagePlus premier members.

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 356 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 783 mainline aircraft and the airline's United Express partners operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 27 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as "expects," "will," "plans," "anticipates," "indicates," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: our ability to execute our strategic operating plan, including our growth, revenue-generating and cost-control initiatives; general economic conditions (including interest rates, foreign currency exchange rates, investment or credit market conditions, crude oil prices, costs of aircraft fuel and energy refining capacity in relevant markets); risks of doing business globally, including instability and political developments that may impact our operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; our capacity decisions and the capacity decisions of our competitors; competitive pressures on pricing and on demand; changes in aircraft fuel prices; disruptions in our supply of aircraft fuel; our ability to cost-effectively hedge against increases in the price of aircraft fuel, if we decide to do so; the effects of any technology failures or cybersecurity breaches; disruptions to services provided by third-party service providers; potential reputational or other impact from adverse events involving our aircraft or operations, the aircraft or operations of our regional carriers or our code share partners or the aircraft or operations of another airline; our ability to attract and retain customers; the effects of any terrorist attacks, international hostilities or other security events, or the fear of such events; the mandatory grounding of aircraft in our fleet; disruptions to our regional network; the impact of regulatory, investigative and legal proceedings and legal compliance risks; the success of our investments in other airlines, including in other parts of the world; industry consolidation or changes in airline alliances; the ability of other air carriers with whom we have alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; costs associated with any modification or termination of our aircraft orders; disruptions in the availability of aircraft, parts or support from our suppliers; our ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; labor costs; an outbreak of a disease that affects travel demand or travel behavior; the impact of any management changes; extended interruptions or disruptions in service at major airports where we operate; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements, environmental regulations and the United Kingdom's withdrawal from the European Union); the seasonality of the airline industry; weather conditions; the costs and availability of aviation and other insurance; the costs and availability of financing; our ability to maintain adequate liquidity; our ability to comply with the terms of our various financing arrangements; our ability to realize the full value of our intangible assets and long-lived assets; and other risks and uncertainties set forth under Part I, Item 1A., "Risk Factors," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, as well as other risks and uncertainties set forth from time to time in the reports we file with the U.S. Securities and Exchange Commission.

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines Sets a Course for the Future With Order of 50 Airbus A321XLR Aircraft

December 03, 2019

CHICAGO, Dec. 3, 2019 /PRNewswire/ -- United Airlines today announced an order to purchase 50 new Airbus A321XLR aircraft, enabling the carrier to begin replacing and retiring its existing fleet of Boeing 757-200 aircraft and further meet the airline's operational needs by pairing the optimal aircraft with select transatlantic routes. The state-of-the-art aircraft, which United expects to introduce into international service in 2024, will also allow United to explore serving additional destinations in Europe from its East Coast hubs in Newark/New York and Washington.

"The new Airbus A321XLR aircraft is an ideal one-for-one replacement for the older, less-efficient aircraft currently operating between some of the most vital cities in our intercontinental network," said Andrew Nocella, United's executive vice president and chief commercial officer. "In addition to strengthening our ability to fly more efficiently, the A321XLR's range capabilities open potential new destinations to further develop our route network and provide customers with more options to travel the globe."

The next-generation A321XLR offers customers an elevated inflight experience and features modern amenities including LED lighting, larger overhead bin space and Wi-Fi connectivity. Additionally, the new aircraft lowers overall fuel burn per seat by about 30% when compared to previous generation aircraft, enabling United to further minimize its environmental impact as the carrier moves towards its ambitious goal of reducing its carbon footprint by 50% relative to 2005 levels by 2050.

United plans to begin taking delivery of the Airbus A321XLR in 2024. Additionally, the airline will defer the delivery of its order of Airbus A350s until 2027 to better align with the carrier's operational needs.

Every customer. Every flight. Every day.

In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, this year United:

  • Announced that MileagePlus award miles will never expire
  • Gave economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft
  • Released a new version of the award-winning, most downloaded app in the airline industry
  • Launched a new tool called ConnectionSaver, dedicated to improving the experience for customers with connecting flights
  • Partnered with CLEAR on free or discounted memberships for MileagePlus members
  • Announced PlusPoints, new upgrade benefits for MileagePlus Premier members
  • And introduced products in its amenity kits made exclusively for the airline by luxury skincare line Sunday Riley

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 358 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline's United Express partners operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 27 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

United Airlines Pledges Millions of Miles to Non-Profits on Giving Tuesday

December 03, 2019

CHICAGO, Dec. 3, 2019 /PRNewswire/ -- United Airlines continues its successful Miles on a Mission campaign this Giving Tuesday by pledging to match customer donations up to a total of 10 million MileagePlus® miles to featured Miles on a Mission partners. The campaign is a first-of-its-kind crowdsourcing platform that gives customers a simple, and easy way to donate miles to non-profit organizations and charities in need of air travel. Brian Kelly, founder and CEO of The Points Guy, will kick off a holiday donation drive today in Terminal C at Newark Liberty International Airport by meeting and encouraging MileagePlus members to donate miles to the effort.

The inaugural round of Miles on a Mission assisted 12 charity campaigns, which raised more than 11 million MileagePlus miles in just 28 days. MileagePlus members can now visit united.com/donate to make contributions to non-profit organizations in need of air travel.

"As our customers begin to think about ways to give back this holiday season, we are proud to offer more options to use miles in support of causes and charities that are meaningful to our customers," said Sharon Grant, vice president and chief community engagement officer at United Airlines. "We know many of our customers are looking to make a difference and we want to give them opportunities to make the giving of their miles go even further. Donating miles is a powerful way to contribute to an organization."

The following non-profit organizations are participating in the Giving Tuesday campaign:

  • A Walk on Water
    • Surf Therapy organization serving families of children with unique needs by offering transformative experiences at the beach.
  • Compass to Care
    • Chicago-based organization that assists children suffering from cancer with travel to receive life-saving cancer treatment. Thirty percent of children diagnosed with cancer do not have treatment options within 60 miles of their homes.
  • The Extra Mile
    • Chicago-based organization that gives flights to those in need of visiting terminally ill loved ones, who cannot otherwise afford the trip to say their final goodbyes.
  • I AM ALS
    • I AM ALS is uniting patients, advocates, and the scientific community to reshape public understanding of ALS, provide key resources to the community to fight ALS, and empower them to lead the search for treatments and cures for this currently terminal disease.
  • PeaceJam
    • A global peace organization teaching young people the skills they need to tackle today's most pressing issues. Your miles will support youth to work directly with PeaceJam's 14 Nobel Peace Laureates at summits around world.
  • Rainbow Railroad
    • Organization that helps those who identify as LGBTQI seek asylum from their countries of origin. They will use the miles they raise to book flights for individuals they are helping to travel to safety.
  • The Station Foundation
    • Organization committed to protecting and empowering U.S. Special Operations veterans returning from combat, their spouses, families and Gold Star children.
  • Up2Us Sports
    • Organization that works to engage, train and support sports coaches to serve as mentors and role models to youth in underserved communities all across America.

Eligible charities can apply for the opportunity to launch a 28-day rotation to raise miles for their organization through MileagePlus member donations. Approved charities will work with United to reach goals of raising between 250,000 and 5 million miles. Organizations looking to launch a campaign can visit the Miles on a Mission website for full application details. 

Every customer. Every flight. Every day.

In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, this year United:

  • Announced that MileagePlus award miles will never expire
  • Gave Economy customers a choice of complimentary snacks on domestic flights
  • Made DIRECTV free for every customer on more than 200 aircraft
  • Released a new version of the award-winning, most downloaded app in the airline industry
  • Launched a new tool called ConnectionSaver, dedicated to improving the experience for customers with connecting flights
  • Partnered with CLEAR on free or discounted memberships for MileagePlus members
  • Announced PlusPoints, new upgrade benefits for MileagePlus Premier members
  • And introduced products in its amenity kits made exclusively for the airline by luxury skincare line Sunday Riley

About United

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 358 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline's United Express partners operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26-member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

 

SOURCE United Airlines

For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com

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