United Airlines Expects To Deliver Peer-Leading - United Hub

United Airlines Expects To Deliver Peer-Leading Pre-Tax Margin Growth During First-Quarter 2019

April 16, 2019

CHICAGO, April 16, 2019 /PRNewswire/ -- United Airlines (UAL) today announced that a combination of strong top-line revenue performance and effective cost management led to first-quarter pre-tax margin growth that is expected to lead its peers. The company remains confident that it will deliver on its long-term adjusted diluted earnings per share2 (EPS) targets of $10 to $12 in 2019 and $11 to $13 in 2020.

  • Reported first-quarter net income of $292 million, diluted EPS of $1.09, pre-tax earnings of $367 million and pre-tax margin of 3.8 percent, expanding pre-tax margin 1.8 points versus the first quarter of 2018.
  • Reported first-quarter adjusted net income of $309 million, adjusted diluted EPS of $1.15, adjusted pre-tax earnings of $389 million, adjusted pre-tax margin of 4.1 percent, expanding adjusted pre-tax margin 2.1 points versus the first quarter of 2018.1
  • Total passenger revenue increased 7.1 percent versus the first quarter of 2018.
  • First-quarter passenger revenue per available seat mile (PRASM) increased 1.1 percent year-over-year.
  • Consolidated first-quarter unit cost per available seat mile (CASM) decreased 2.1 percent year-over-year.
  • Consolidated first-quarter CASM, excluding special charges, third-party business expenses, fuel and profit sharing, decreased 1.8 percent year-over-year.
  • Repurchased $527 million of its common shares in the first-quarter of 2019, at an average purchase price of $83.68 per share.
  • For the second consecutive quarter the airline reported adjusted pre-tax margin expansion.

"We delivered another strong financial quarter in which we made important progress on our customer investments while making strategic decisions to manage our costs and producing pre-tax margin growth that we expect will lead our peers," said Oscar Munoz, chief executive officer of United Airlines. "That's why we are more confident than ever that we'll reach our long-term adjusted EPS targets we unveiled last year. I want to thank all 93,000 of our employees for their incredible work as we overcame some unique challenges and refocused our efforts in 2019 toward elevating the United experience for our customers."

For more information on UAL's second-quarter and full-year 2019 guidance, please visit ir.united.com for the company's investor update.

First-Quarter 2019 Highlights

Operations and Employees

  • Flew the most revenue passengers ever for a first quarter in company history.
  • Despite a weather-challenged first quarter, achieved second-highest mainline on-time departures rate performance versus the major U.S. airlines.
  • Launched Backstage 2019 which will bring all 25,000 flight attendants to Chicago for an event which will help us elevate the way customers feel about their United experience.
  • Earned 100 percent score on Human Rights Campaign Foundation's annual scorecard on LGBTQ workplace equality.
  • Broke ground on a state-of-the-art Technical Operations Center at Los Angeles International Airport that will enable the airline to provide exceptional service for all of its aircraft fleets.
  • Announced headquarters will remain at the iconic Willis Tower in the airline's hometown of Chicago, while making investments to completely transform the current workspace and experience.

Customer Experience

  • Introduced a re-imagined mobile app to customers around the world featuring a more dynamic experience that updates customers at each step of their travel journey while adding enhancements that make managing travel easier.
  • Announced free live DIRECTV on 211 Boeing 737 United aircraft equipped with seat back TV, providing more than 100 channels of live television.
  • Introduced the relaunch of the United MileagePlus X app, which offers United MileagePlus® members a unique opportunity to earn award miles for everyday purchases.
  • Opened the fifth of its award-winning United Polaris Lounges at Los Angeles International Airport.
  • Opened a brand-new 5,000-square-foot United Club at Fort Lauderdale-Hollywood International Airport - the first of four new United Club locations set to open in 2019.
  • Announced next step in airline's commitment to making customers more comfortable by adding more than 1,600 United Polaris® business class and United First seats to nearly 250 international and domestic aircraft.
  • Launched new state-of-the-art United Meetings product, available on the airline's business portal, United Jetstream, which makes managing travel and redeeming rewards for meetings and events quicker and more streamlined.
  • 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 and in a MileagePlus customer profile, providing customers the ability to identify themselves corresponding with what is indicated on their passports or identification.

Network

  • Began new service from four hubs to 18 cities in 12 states and one province and launched new nonstop seasonal service between San Francisco and Amsterdam.
  • Announced 11 new domestic routes.
  • Filed an application with the U.S. Department of Transportation for a total of six daily nonstop flights to Tokyo Haneda Airport from six of the airline's hubs.

Fleet

  • Announced a brand new and revolutionary regional flying experience with the addition of the two-cabin, 50-seat Bombardier CRJ 550 aircraft, offering customers on key regional routes more legroom, storage and amenities than any other 50-seat regional aircraft operating today.
  • Became first carrier in the world to operate all three Dreamliner models as its first 787-10 began regular service in January from Los Angeles International Airport to Newark Liberty International Airport.
  • Took delivery of four Boeing 737 MAX 9 aircraft (prior to the March 13, 2019 Federal Aviation Administration order grounding U.S.-registered 737 MAX aircraft) and four Boeing 787-10 aircraft.

Community and Environment

  • Donated $1 million to Feeding America's Shutdown Response Fund to directly support the food banks providing food for families of federal workers.
  • Launched Her Art Here, a first-of-its-kind contest designed to find and uplift underrepresented women artists by providing a chance to paint a canvas like no other - a United Airlines aircraft.

Earnings Call

UAL will hold a conference call to discuss its first-quarter 2019 financial results and its financial and operational outlook for second-quarter and full-year 2019 on Wednesday, April 17, 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.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines and United Express operate approximately 4,900 flights a day to 355 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 779 mainline aircraft and the airline's United Express carriers operate 569 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 Continental Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

1 Excludes special charges, the mark-to-market impact of financial instruments 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.
2Excludes special charges and the mark-to-market impact of financial instruments, the nature of which are not determined at this time, and imputed interest on certain finance leases. Accordingly, UAL is not providing earnings guidance on a GAAP basis.

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, 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 Continental 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 CONTINENTAL HOLDINGS, INC.

STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED)




Three Months Ended
March 31,


%
Increase/
(Decrease)


(In millions, except per share data)


2019


2018



Operating revenue:








Passenger


$

8,725



$

8,149



7.1



Cargo


286



293



(2.4)



Other operating revenue


578



590



(2.0)



Total operating revenue


9,589



9,032



6.2











Operating expense:








Salaries and related costs


2,873



2,726



5.4



Aircraft fuel


2,023



1,965



3.0



Regional capacity purchase


688



630



9.2



Landing fees and other rent


588



579



1.6



Depreciation and amortization


547



524



4.4



Aircraft maintenance materials and outside repairs


408



440



(7.3)



Distribution expenses


360



342



5.3



Aircraft rent


81



127



(36.2)



Special charges (B)


18



40



NM



Other operating expenses


1,508



1,397



7.9



Total operating expense


9,094



8,770



3.7











Operating income


495



262



88.9











Operating margin


5.2

%


2.9

%


2.3


pts.

Adjusted operating margin (Non-GAAP) (A)


5.3

%


3.3

%


2.0


pts.









Nonoperating income (expense):








Interest expense


(188)



(162)



16.0



Interest capitalized


22



18



22.2



Interest income


29



17



70.6



Miscellaneous, net (B)


9



47



(80.9)



Total nonoperating expense


(128)



(80)



60.0











Income before income taxes


367



182



101.6











Pre-tax margin


3.8

%


2.0

%


1.8


pts.

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


4.1

%


2.0

%


2.1


pts.









Income tax expense (D)


75



37



102.7



Net income


$

292



$

145



101.4











Diluted earnings per share


$

1.09



$

0.51



113.7



Diluted weighted average shares


268.3



284.9



(5.8)











NM Not meaningful








UNITED CONTINENTAL HOLDINGS, INC.

PASSENGER REVENUE INFORMATION AND STATISTICS


Passenger revenue information is as follows:




1Q 2019
Passenger
Revenue
(millions)


Passenger
Revenue
vs.
1Q 2018


PRASM
vs.
1Q 2018


Yield
vs.
1Q 2018


Available
Seat Miles
vs.
1Q 2018


1Q 2019
Available Seat
Miles (millions)

Domestic


$

5,367



8.0%


0.6%


0.9%


7.4%


36,726















Atlantic


1,331



6.3%


(2.8%)


(4.8%)


9.4%


10,626


Pacific


1,121



4.9%


4.5%


2.2%


0.3%


10,923


Latin America


906



5.3%


2.6%


2.3%


2.6%


7,370


International


3,358



5.6%


1.4%


(0.1%)


4.1%


28,919















Consolidated


$

8,725



7.1%


1.1%


0.5%


5.9%


65,645















Select operating statistics are as follows:




Three Months Ended
March 31,


%
Increase/
(Decrease)




2019


2018




Passengers (thousands)


36,454



34,495



5.7



Revenue passenger miles (millions)


53,097



49,849



6.5



Available seat miles (millions)


65,645



61,977



5.9



Passenger load factor:








Consolidated


80.9

%


80.4

%


0.5


pts.

Domestic


82.6

%


82.8

%


(0.2)


pts.

International


78.7

%


77.5

%


1.2


pts.

Passenger revenue per available seat mile (cents)


13.29



13.15



1.1



Total revenue per available seat mile (cents)


14.61



14.57



0.3



Average yield per revenue passenger mile (cents)


16.43



16.35



0.5



Aircraft in fleet at end of period


1,348



1,295



4.1



Average stage length (miles)


1,448



1,443



0.3



Average full-time equivalent employees


88,730



85,561



3.7



Average aircraft fuel price per gallon


$

2.05



$

2.11



(2.8)



Fuel gallons consumed (millions)


985



932



5.7




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 CONTINENTAL HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


(In millions)

March 31, 2019


December 31, 2018

ASSETS




Current assets:




Cash and cash equivalents

$

1,848



$

1,694


Short-term investments

2,219



2,256


Receivables, less allowance for doubtful accounts

1,789



1,426


Aircraft fuel, spare parts and supplies, less obsolescence allowance

972



985


Prepaid expenses and other

780



733


Total current assets

7,608



7,094






Total operating property and equipment, net

28,586



27,399


Operating lease right-of-use assets

5,065



5,262






Other assets:




Goodwill

4,523



4,523


Intangibles, less accumulated amortization

3,144



3,159


Restricted cash

103



105


Notes receivable, net

512



516


Investments in affiliates and other, net

1,098



966


Total other assets

9,380



9,269


Total assets

$

50,639



$

49,024






LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Advance ticket sales

$

6,006



$

4,381


Accounts payable

2,707



2,363


Frequent flyer deferred revenue

2,388



2,286


Accrued salaries and benefits

1,660



2,184


Current maturities of long-term debt

1,201



1,230


Current maturities of finance leases

133



123


Current maturities of operating leases

639



719


Other

601



553


Total current liabilities

15,335



13,839






Other long-term liabilities and deferred credits:




Long-term debt

12,734



12,215


Long-term obligations under finance leases

236



224


Long-term obligations under operating leases

5,145



5,276


Frequent flyer deferred revenue

2,750



2,719


Postretirement benefit liability

1,287



1,295


Pension liability

1,454



1,576


Deferred income taxes

898



828


Other

998



1,010


Total other long-term liabilities and deferred credits

25,502



25,143


Stockholders' equity

9,802



10,042


Total liabilities and stockholders' equity

$

50,639



$

49,024


UNITED CONTINENTAL HOLDINGS, INC.

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED)


(In millions)

Three Months Ended
March 31,


2019


2018

Cash Flows from Operating Activities:




Net cash provided by operating activities

$

1,915



$

1,709






Cash Flows from Investing Activities:




Capital expenditures

(1,609)



(944)


Purchases of short-term and other investments

(724)



(596)


Proceeds from sale of short-term and other investments

768



840


Loans made to others



(10)


Investment in affiliates

(27)




Other, net

12



15


Net cash used in investing activities

(1,580)



(695)






Cash Flows from Financing Activities:




Proceeds from issuance of long-term debt

646



673


Payments of long-term debt

(250)



(189)


Repurchases of common stock

(513)



(529)


Principal payments under finance leases

(20)



(18)


Capitalized financing costs

(17)



(16)


Other, net

(29)



(16)


Net cash used in financing activities

(183)



(95)


Net increase in cash, cash equivalents and restricted cash

152



919


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

1,799



1,591


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

$

1,951



$

2,510






Investing and Financing Activities Not Affecting Cash:




Property and equipment acquired through the issuance of debt

$

92



$

60


Operating lease conversions to finance lease

36




Right-of-use assets acquired through operating leases

51



103


Property and equipment acquired through finance leases

8




UNITED CONTINENTAL 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)

Twelve Months Ended
March 31, 2019

Net Operating Profit After Tax ("NOPAT")


Pre-tax income

$

2,833


Adjustments:


Special charges and mark-to-market ("MTM") losses on financial instruments:


Impairment of assets

362


Termination of a maintenance service agreement

64


Severance and benefit costs

33


MTM losses on financial instruments

33


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

6


Pre-tax income excluding special charges and MTM losses on financial instruments (Non-GAAP)

3,331


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

693


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

193


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

(12)


less: Income taxes paid

(14)


NOPAT (Non-GAAP)

$

4,191






Average Invested Capital (five-quarter average)


Total assets

$

49,392


less: Non-interest bearing liabilities (b)

(16,966)


Average invested capital (Non-GAAP)

$

32,426




ROIC (Non-GAAP)

12.9

%



(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 MTM gains on financial instruments. For the twelve months ended March 31, 2019, the effective cash tax rate was 0.4%.

(b)

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

UNITED CONTINENTAL 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 MTM gains and losses on financial instruments 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

March 31,


%
Increase/
(Decrease)




2019


2018



CASM (cents)








Cost per available seat mile (CASM) (GAAP)


13.85



14.15



(2.1)



Special charges (B)


0.02



0.07



NM



Third-party business expenses


0.05



0.05





Fuel expense


3.08



3.17



(2.8)



Profit sharing, including taxes


0.05



0.02



150.0



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


10.65



10.84



(1.8)




NM Not Meaningful

UNITED CONTINENTAL HOLDINGS, INC.

NON-GAAP FINANCIAL RECONCILIATION (Continued)




Three Months Ended
March 31,


$
Increase/
(Decrease)


%
Increase/
(Decrease)


(in millions)


2019


2018



Operating expenses (GAAP)


$

9,094



$

8,770



$

324



3.7



Special charges (B)


18



40



(22)



NM



Operating expenses, excluding special charges


9,076



8,730



346



4.0



Adjusted to exclude:










Third-party business expenses


30



31



(1)



(3.2)



Fuel expense


2,023



1,965



58



3.0



Profit sharing, including taxes


33



17



16



94.1



Adjusted operating expenses (Non-GAAP)


$

6,990



$

6,717



$

273



4.1













Operating income (GAAP)


$

495



$

262



$

233



88.9



Adjusted to exclude:










Special charges (B)


18



40



(22)



NM



Adjusted operating income (Non-GAAP)


$

513



$

302



$

211



69.9













Pre-tax income (GAAP)


$

367



$

182



$

185



101.6



Adjusted to exclude:










Special charges (B)


18



40



(22)



NM



MTM gains on financial instruments (B)


(17)



(45)



28



NM



Interest expense on ERJ 145 finance leases (C)


21





21



NM



Adjusted pre-tax income (Non-GAAP)


$

389



$

177



$

212



119.8













Net income (GAAP)


$

292



$

145



$

147



101.4



Adjusted to exclude:










Special charges (B)


18



40



(22)



NM



MTM gains on financial instruments (B)


(17)



(45)



28



NM



Interest expense on ERJ 145 finance leases (C)


21





21



NM



Income tax expense (benefit) related to adjustments above


(5)



1



(6)



NM



Adjusted net income (Non-GAAP)


$

309



$

141



$

168



119.1













Diluted earnings per share (GAAP)


$

1.09



$

0.51



$

0.58



113.7



Adjusted to exclude:










Special charges (B)


0.07



0.14



(0.07)



NM



MTM gains on financial instruments (B)


(0.07)



(0.16)



0.09



NM



Interest expense on ERJ 145 finance leases (C)


0.08





0.08



NM



Income tax benefit related to adjustments


(0.02)





(0.02)



NM



Adjusted diluted earnings per share (Non-GAAP)


$

1.15



$

0.49



$

0.66



134.7




NM Not Meaningful

UNITED CONTINENTAL 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
March 31,


Capital Expenditures (in millions)


2019


2018


Capital expenditures (GAAP)


$

1,609



$

944



Property and equipment acquired through the issuance of debt


92



60



Property and equipment acquired through finance leases


8





Adjusted capital expenditures (Non-GAAP)


$

1,709



$

1,004









Free Cash Flow (in millions)






Net cash provided by operating activities (GAAP)


$

1,915



$

1,709



Less capital expenditures


1,609



944



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


$

306



$

765









Net cash provided by operating activities (GAAP)


$

1,915



$

1,709



Less adjusted capital expenditures (Non-GAAP)


1,709



1,004



Free cash flow (Non-GAAP)


$

206



$

705



UNITED CONTINENTAL HOLDINGS, INC.

NOTES (UNAUDITED)


(B) Special charges and MTM gains on financial instruments include the following:



Three Months Ended
March 31,


(In millions)


2019


2018


Operating:






Impairment of assets


$

8



$

23



Severance and benefit costs


6



14



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


4



3



Total special charges


18



40



Nonoperating MTM gains on financial instruments


(17)



(45)



Total special charges and MTM gains on financial instruments


1



(5)



Income tax expense related to special charges and MTM gains on financial instruments




1



Total special charges and MTM gains on financial instruments, net of income taxes


$

1



$

(4)



Impairment of assets: During the three months ended March 31, 2019, the company recorded an $8 million fair value adjustment for aircraft purchased off lease. During the three months ended March 31, 2018, the company recorded a $23 million fair value adjustment for aircraft purchased off lease and impairments related to certain fleet types and certain international slots no longer in use.


Severance and benefit costs: During the three months ended March 31, 2019 and 2018, the company recorded $2 million and $8 million, respectively, of severance and benefit costs primarily 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. Also during the three months ended March 31, 2019 and 2018, the company recorded $4 million and $6 million, respectively, of management severance.


MTM gains on financial instruments: During the three months ended March 31, 2019 and 2018, the company recorded gains of $14 million and $45 million, respectively, for the change in market value of its investment in Azul Linhas Aéreas Brasileiras S.A. During the first quarter of 2019, the company recorded gains of $3 million for the change in fair value of certain derivative assets related to equity of Avianca Holdings S.A. For equity investments and derivative assets subject to MTM accounting, the company records gains and losses as part of Nonoperating income (expense): Miscellaneous, net in its statements of consolidated operations.


(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. The company recognized $21 million of additional interest expense in the three months ended March 31, 2019 as a result of this change.


(D) Effective tax rate


The company's effective tax rate for the three months ended March 31, 2019 and 2018 was 20.4% and 20.3%, 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.

SOURCE United Airlines

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

United Airlines Launches Online Campaign for Hurricane Dorian Relief Efforts

September 06, 2019

CHICAGO, Sept. 6, 2019 /PRNewswire/ -- Today, United Airlines reaffirms its commitment to lifting up communities in need, launching a Crowdrise fundraising campaign for those affected by Hurricane Dorian. Donations will support the airline's relief partners that provide assistance in the United States and internationally: American Red Cross, Airlink, Americares and Global Giving.

United is working directly with these partner organizations, as well as engaging with community leaders to assess disaster impact and provide aid to rebuild affected communities. United will match the first $100,000 raised and provide up to a total of 5 million bonus miles to give to individuals who make donations of $50 or more.

"United has a long tradition of stepping forward to assist in supporting individuals and communities impacted by hurricanes, such as Harvey, Irma and Maria," said Executive Vice President and Chief Administrative Officer Brett Hart. "After natural disasters, our generous customers, employees and MileagePlus members step forward to ask how they can again support those in need, and we are proud and humbled to facilitate this critical work."

United also works with relief partner Airlink to connect with non-governmental organizations (NGOs) that respond quickly and efficiently in the wake of major disasters. This past week, United flew more than 25 relief workers, including a team of search and rescue experts from Empact Northwest, to the Bahamas to aid in the most pressing needs identified by the local government.

"We can't thank United enough for allowing us to jump out of the gate right away to aid people devastated by this storm," said Airlink CEO Steven J. Smith. "Search and rescue, medical care, temporary shelter, and access to potable water are among the most immediate and pressing needs identified in the region. United's assistance is critical in ensuring the right type of help quickly reaches those recovering."

United will continue to work directly with its partner organizations and engage with community leadership to properly address disaster impact and provide assistance to rebuild affected communities. The online campaign platform is currently scheduled to be available for donations through Sept. 30. As the level of impact on affected communities develops, United continues to evaluate how it can best provide assistance to those in need.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 to Present at Morgan Stanley 7th Annual Laguna Conference

September 06, 2019

CHICAGO, Sept. 6, 2019 /PRNewswire/ -- United Airlines will present at the Morgan Stanley 7th Annual Laguna Conference on Thursday, Sept. 12. United Airlines' President Scott Kirby will present at the conference beginning at 12:15 p.m. PT / 3:15 p.m. ET.

The live webcast will be available on the investor relations section of United's website at ir.united.com. The company will archive the audio webcast on the website within 24 hours of the presentation, and the webcast will be available for a limited time.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 to Present at Cowen and Company 12th Annual Global Transportation Conference

August 29, 2019

CHICAGO, Aug. 29, 2019 /PRNewswire/ -- United Airlines will present at the Cowen and Company 12th Annual Global Transportation Conference on Wednesday, September 4. United Airlines' Executive Vice President and Chief Financial Officer Gerry Laderman and Executive Vice President and Chief Commercial Officer Andrew Nocella will present at the conference beginning at 11:30 a.m. ET / 10:30 a.m. CT.

The live webcast will be available on the investor relations section of United's website at ir.united.com. The company will archive the audio webcast on the website within 24 hours of the presentation, and the webcast will be available for a limited time.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 MileagePlus Miles Never Expire

August 28, 2019

CHICAGO, Aug. 28, 2019 /PRNewswire/ -- United Airlines announced that effective immediately, MileagePlus award miles never expire, giving members a lifetime to use miles on flights, experiences, hotels and more.

"We want to demonstrate to our members that we are committing to them for the long-haul and giving customers a lifetime to use miles is an exceptionally meaningful benefit," said Luc Bondar, vice president of loyalty and president of MileagePlus at United. "Our MileagePlus program provides customers more ways to earn and use miles than any other U.S. airline. More customers used miles to book award trips in 2018 than in any year before, and we expect with today's announcement that even more will use miles to travel the world in the years to come."

United continues to enhance its award-winning MileagePlus program, making it more beneficial for customers. Highlights include:

  • Recently announced partnership with CLEAR that includes free or discounted CLEAR membership pricing for U.S.-based MileagePlus members.
  • Award travel to more destinations than any other U.S. airline with service to more than 1,300 destinations through United and Star Alliance partners, and ability to book award travel on United and all Star Alliance partners through the United mobile app.
  • Most low-priced economy award availability of any global U.S. airline.
  • Everyday opportunities to use miles starting as low as 1,000 miles for eGift cards when purchasing through MileagePlusX.

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, United recently announced that customers on all domestic flights can now choose from three complimentary inflight snack items, announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 12 New and Expanded International Destinations from Chicago, Denver, New York/Newark and San Francisco

August 22, 2019

CHICAGO, Aug. 22, 2019 /PRNewswire/ -- United Airlines today unveiled an expanded international schedule from its hubs in Chicago, Denver, New York/Newark and San Francisco. United's announcement includes brand-new service to Nice, France; Palermo, Italy; and Curacao. The airline also announced customers will have more options when planning travel to Europe with additional flights to Amsterdam; London; Frankfurt, Germany; and Zurich and will resume its seasonal summer service earlier to popular destinations including Athens, Greece; Naples, Italy; Porto, Portugal; and Barcelona, Spain.

"United's global network is a tremendous source of pride for our employees and loyal customers – we're always looking for ways to grow and expand our network to connect our customers to more destinations around the world," said United's International Network Vice President Patrick Quayle. "These new additions help position United as the airline of choice for customers planning their business or leisure travel."

New seasonal service between New York/Newark and Curacao, Nice and Palermo

Just in time to escape the winter weather, United is adding Curacao to its Caribbean route network and enabling customers access to all of the ABC islands, including Aruba and Bonaire. Curacao, United's 21st island destination in the Caribbean, will operate on Saturdays beginning Dec. 7, 2019, with Boeing 737-700 aircraft, subject to government approval.

United's unparalleled global route network provides customers with easy access between the United States and many of the world's top vacation destinations. Beginning May 2, 2020, United will offer customers daily nonstop service between New York/Newark and Nice, France – the gateway to the French Riviera. The airline will operate service to Nice with its premium Boeing 767-300ER aircraft featuring 46 United Polaris business class seats – offering the most premium seats between the United States and southern France of any U.S. airline.

In addition, beginning May 20, United will be the only airline offering nonstop daily service between the United States and Palermo, Italy, the capital city of Sicily and United's fifth Italian destination: the most of any U.S. airline. Service to Nice and Palermo is subject to government approval.

In the last two years, United has announced 26 new international routes, including nonstop service between the United States and Prague; Cape Town, South Africa; Tahiti, French Polynesia; Naples, Italy; Porto, Portugal; and Reykjavik, Iceland. United offers the most international destinations from New York City of any U.S. airline.

Offering more international service from Chicago than any U.S. carrier

United will begin daily nonstop year-round service between Chicago O'Hare and Zurich on March 28, 2020. Offering the most flights of any U.S. airline to Switzerland, United will operate service between Chicago and Zurich with its premium 46 Polaris business class Boeing 767-300ER aircraft. From Chicago, United Airlines operates to more year-round international destinations in Europe, Asia and South America than any airline. Zurich is its seventh year-round European destination from Chicago. The new service will complement existing flights from New York/Newark, San Francisco, and Washington.

Offering customers more options to get to Amsterdam and Frankfurt

In addition to United's brand-new and extended routes from its New York/Newark gateway, United announced the addition of a second daily flight between New York/Newark and Amsterdam and Frankfurt, Germany. The additional flights, beginning March 28, 2020, will enable more customers from across the United States to easily connect to Amsterdam and Frankfurt. United, the U.S. carrier with the most flights to Germany, will operate its second daily year-round Frankfurt service with its premium Boeing 767-300ER aircraft with 46 United Polaris business class seats. The airline will operate its second daily seasonal flight to Amsterdam with Boeing 767-300ER aircraft featuring 30 United Polaris business class seats. United currently offers nonstop service from five U.S. cities to Amsterdam, including Chicago, Houston, New York/Newark, Washington and San Francisco.

Increasing service to London and New Delhi

Subject to government approval, United will expand service between Denver and London to year-round, beginning Nov. 1, 2019, with Boeing 787-8 Dreamliner aircraft. United is the only carrier offering customers both nonstop trans-Atlantic and trans-Pacific flights from Denver. In addition to London, United offers nonstop year-round service to Frankfurt, Germany, and Tokyo/Narita.

Originally announced as seasonal service between San Francisco and New Delhi, United is expanding the route to year-round service. United will provide business and leisure travelers nonstop access to India from the U.S. West and East Coasts. United will operate its first nonstop service from the U.S. West Coast to India with a Boeing 787-9 Dreamliner aircraft beginning Dec. 5, 2019.

Planning a European summer getaway has never been easier

United announced it is extending its seasonal services between New York/Newark and Athens, Greece; Naples, Italy; and Porto, Portugal, and between Washington and Barcelona, Spain. United will resume service one month earlier between New York/Newark and Porto, Portugal, on March 28, 2020, and will resume service between New York/Newark and Athens and Naples, and between Washington and Barcelona two weeks earlier, on May 8, 2020.

The only airline to fly nonstop between the U.S. and Cape Town, South Africa

Announced in April of this year, United will begin operating the first-ever nonstop service between New York/Newark and Cape Town, South Africa, on Dec. 15, 2019, with Boeing 787-9 Dreamliner aircraft. United's new service decreases the current travel time from New York to Cape Town by more than four hours and will provide customers from more than 80 U.S. cities with easy, one-stop access to Cape Town at United's New York/Newark hub.

Offering customers more premium seats across the Atlantic

Earlier this year, United announced the next step in its commitment to making more customers more comfortable by adding more premium seats on aircraft serving some of the most popular business and leisure destinations. United has been adding more United Polaris business class seats on Boeing 767-300ER aircraft. The reconfigured aircraft feature 16 additional United Polaris business class seats in the premium cabin – a more than 50 percent increase in all-aisle-access seating – bringing the total premium cabin seat count to 46. The aircraft also feature 22 United Premium Plus seats; 47 Economy Plus seats and 52 United Economy seats.

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, United recently announced that customers on all domestic flights can now choose from three complimentary inflight snack items, announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 Adds Service to Tokyo, Haneda with Routes from Chicago, Los Angeles, New York/Newark and Washington, D.C.

August 16, 2019

CHICAGO, Aug. 16, 2019 /PRNewswire/ -- United Airlines today announced it will begin service between four of its U.S. hubs and Tokyo's Haneda International Airport, located approximately 15 minutes from downtown Tokyo. United will begin operating nonstop service between Chicago, Los Angeles, New York/Newark and Washington, D.C. and Haneda on March 28, 2020, subject to government approval. United currently offers daily nonstop service between San Francisco and Haneda. Tickets for United's new Haneda flights will be available for purchase starting Saturday, August 17.


Tokyo tower, Japan - Tokyo City Skyline and Cityscape Getty Images/iStockphoto


In addition to United's new Haneda flights, Tokyo's Narita International airport will continue to be a hub for United with nonstop daily service between Narita and Denver, Guam, Honolulu, Houston, Los Angeles, New York/Newark and San Francisco. With the start of these new routes, United will no longer serve Narita from its Chicago and Washington D.C. hubs, and will shift these flights from Narita to Haneda.

"Our new service to Haneda gives our customers more choice and connections to more than 65 destinations throughout Asia. With service beginning next spring, we look forward to providing convenient service for the Olympic Games Tokyo 2020, and beyond," said Patrick Quayle, United's vice president of International Network. "United has offered nonstop service between the U.S. and Japan for more than 40 years and we are excited to expand our Japan network at Tokyo's Haneda Airport and continue to be the largest U.S. carrier to Japan."

United commends the efforts of Secretary Elaine Chao, her team at the U.S. Department of Transportation and officials at the U.S. State Department in making additional services at Tokyo Haneda a reality starting spring 2020.

United Airlines to Tokyo Haneda Schedule, Effective March 28, 2020


Flight

From

To

Depart

Arrival

Aircraft

UA 881

Chicago

Haneda

12:45 p.m.

3:55 p.m. (+1)

B777-200ER

UA 882

Haneda

Chicago

5:45 p.m.

3:55 p.m.

B777-200ER

UA 39

Los Angeles

Haneda

12:00 p.m.

3:45 p.m. (+1)

B787-10

UA 38

Haneda

Los Angeles

6:20 p.m.

12:25 p.m.

B787-10

UA 131

New York/Newark

Haneda

10:40 a.m.

1:35 p.m. (+1)

B777-200ER

UA 130

Haneda

New York/Newark

5:15 p.m.

5:10 p.m.

B777-200ER

UA 803

Washington Dulles

Haneda

12:30 p.m.

3:30 p.m. (+1)

B777-200ER

UA 804

Haneda

Washington Dulles

4:00 p.m.

3:45 p.m.

B777-200ER

UA 875

San Francisco

Haneda

10:45 a.m.

1:55 p.m. (+1)

B787-9

UA 876

Haneda

San Francisco

3:45 pm

9:05 a.m.

B787-9


*Aircraft type and flight times are subject to change

*United currently serves Haneda from San Francisco



United Airlines to Tokyo Narita Schedule, Effective March 28, 2020


Flight

From

To

Depart

Arrival

Aircraft

UA 837

San Francisco

Narita

11:30 a.m.

2:35 p.m. (+1)

B777-300ER

UA 838

Narita

San Francisco

5:05 p.m.

10:20 a.m.

B777-300ER

UA 32

Los Angeles

Narita

11:30 a.m.

3:10 p.m. (+1)

B787-9

UA 33

Narita

Los Angeles

5:00 p.m.

11:00 a.m.

B787-9

UA 143

Denver

Narita

1:30 p.m.

4:20 p.m. (+1)

B787-8

UA 142

Narita

Denver

6:00 p.m.

1:35 p.m.

B787-8

UA 7

Houston

Narita

10:25 a.m.

2:00 p.m. (+1)

B777-200ER

UA 6

Narita

Houston

4:35 p.m.

2:30 p.m.

B777-200ER

UA 79

New York/Newark

Narita

11:05 a.m.

1:55 p.m. (+1)

B777-300ER

UA 78

Narita

New York/Newark

5:00 p.m.

4:50 p.m.

B777-300ER

UA 903

Honolulu

Narita

09:55 a.m.

1:25 p.m. (+1)

B777-200ER

UA 902

Narita

Honolulu

6:55 p.m.

7:00 a.m.

B777-200ER

UA 828

Guam

Narita

7:00 a.m.

9:55 a.m.

B777-200 / B737-800

UA 196

Guam

Narita

12:00 p.m.

2:55 p.m.

B737-800

UA 873

Guam

Narita

5:05 p.m.

7:50 p.m.

B777-200 / B737-800

UA 827

Narita

Guam

11:00 a.m.

3:45 p.m.

B777-200 / B737-800

UA 197

Narita

Guam

5:35 p.m.

10:35 p.m.

B737-800

UA 874

Narita

Guam

9:05 p.m.

1:45 a.m. (+1)

B777-200 / B737-800


*Aircraft type and flight times are subject to change

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, United recently announced that customers on all domestic flights can now choose from three complimentary inflight snack items, announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 Names Tom Doxey Senior Vice President of Technical Operations

August 13, 2019

CHICAGO, Aug. 13, 2019 /PRNewswire/ -- United Airlines today named Tom Doxey senior vice president of Technical Operations, overseeing the carrier's maintenance operations; ground service equipment and facilities maintenance; supply chain; technical services and planning and strategy. Doxey most recently served as vice president of Technical Operations and under his new role will report to United's Chief Operations Officer, Greg Hart.

"I couldn't be more excited to have Tom lead the Tech Ops team," said Hart. "Leveraging his experience leading finance for operations and his passion for people, I know the team will continue their string of record performance under his leadership."

Doxey joined United in 2016, assuming the role of chief financial officer for operations, overseeing teams that provide financial and analytical support to United's operations groups, including Tech Ops. Prior to joining United, Doxey served as vice president, fleet and corporate finance at Allegiant, where he was responsible for all aircraft and corporate finance transactions, materials planning, stores, fleet planning and the financial management of airframe and engine heavy maintenance programs. Doxey started his airline career at US Airways, where he held various roles in financial planning and analysis.

Doxey holds a bachelor's degree from Brigham Young University and an MBA from Arizona State University.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 Taps Restivo for New Communications VP Role

August 08, 2019

CHICAGO, Aug. 8, 2019 /PRNewswire/ -- United Airlines today announced Steven Restivo has been named vice president of Global Corporate Communications. Restivo brings to the company more than 20 years of strategic communications expertise from various companies, including Comcast NBCUniversal and Walmart Stores, Inc.

Restivo, who will report to Chief Communications Officer Josh Earnest, will drive the development and implementation of proactive communication strategies to advance employee communications, media relations and the global response team and will continue to shape the airline's public image.

"Steve is a proven leader and brings a wealth of industry communications experience to United. He will play a leading role on the communications team as we create and capitalize on opportunities to engage our customers, inspire our employees and promote United's brand around the world," said Earnest.

"I'm proud to join the communications team behind one of the world's most iconic brands, especially at such an exciting time in the company's history," said Restivo. "As United Airlines continues to focus on setting itself apart from the competition by delivering a better customer experience, I look forward to sharing stories that reflect those priorities and resonate with employees and customers."

Most recently, Restivo led external communications in support of Comcast NBCUniversal's suite of residential and business products and services, including Xfinity Internet, Video, Home, Voice and Comcast Business. In addition, Restivo developed consumer, accessibility, influencer and technology campaigns and led brand strategy integrations with a wide variety of organizations, including the United States Olympic Committee, the Academy Awards and NASCAR. Restivo earned his communications degree from James Madison University in Virginia.

His first day at United will be Sept. 3, 2019.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 Named to Indeed.com's List of Top 50 Workplaces

August 01, 2019

CHICAGO, Aug. 1, 2019 /PRNewswire/ -- United Airlines was recently recognized by the popular job search site indeed.com as a Top 50 Workplace for 2019, placing United among the best and most innovative Fortune 500 companies when it comes to corporate culture and employee engagement.

This recognition demonstrates United's evolving culture and specifically cites reviews and ratings by United employees on indeed.com. United has invested heavily in its workforce and has created new initiatives to support employees, such as expanding mobile technology to equip front-line employees with the tools they need to succeed, including distributing Apple iPads to technicians, providing a far more efficient workflow. This is part of the airline's "core4" model, an initiative to create a more positive corporate culture, emphasizing four core values: safety, caring, dependability and efficiency.

"This recognition reflects the incredible progress we have made as a top-rated workplace and explains why a growing number of employees are proud of their work," said Kate Gebo, executive vice president of Human Relations and Labor Relations at United Airlines. "Most importantly, we are transforming our culture to focus on our core4 values – especially caring – and I hear every day from employees and customers alike who see them on display."

Profit sharing is one of the many rewards United employees enjoy as part of their total compensation. Following the company's recent earnings announcement, United shared that it expects profit sharing for 2019 to be about 20 percent higher per participating employee year-over-year.

In addition to this award, United's employee satisfaction and positive workplace culture has been recognized by various organizations including most recently by the American Association of People with Disabilities (AAPD) and Disability:IN who jointly recognized United for the fourth consecutive year as a top-scoring company and best place to work for disability inclusion with a perfect score of 100 on the 2019 Disability Equality Index (DEI).

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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, 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, 872-825-8640, media.relations@united.com

United Airlines' Sharon Grant Named One of Corporate America's Most Influential Women

July 31, 2019

CHICAGO, July 31, 2019 /PRNewswire/ -- Savoy Magazine recently named Sharon Grant, Chief Community Engagement Officer at United Airlines, one of Corporate America's most influential women. Savoy is a leading African American lifestyle and business publication.

United's Executive Vice President and Chief Administrative Officer Brett Hart said, "United's incredible impact on communities around the world clearly demonstrates Sharon's proven ability to engage employees, partner organizations and community leaders. Under her leadership, we have capitalized on opportunities to leverage the talent and passion of our employees to make the communities where we live and work better places."

Under Grant's leadership, the Global Community Engagement team has greatly expanded United's global corporate social responsibility footprint. Initiatives have included elevating United's relationship with Special Olympics, implementing Third Thursdays, a monthly employee volunteer program that promotes worldwide employee action through United organized service events, and initiating the airlines' Critical Needs Grants that address critical needs in the communities where United's customers and employees live and work. Grant has been instrumental in developing United's award-winning humanitarian, volunteerism and supplier diversity strategies.

"I'm truly honored to have received this recognition," said Sharon. "I'm humbled to be on a list that includes an exemplary group of African American women who are not only achieving professional success but also working toward making a difference in their communities."

According to Savoy, this distinction is granted to African American women who embody talent, leadership and grace while executing critical roles for some of the largest corporations in the world while simultaneously working to better their communities and inspire others. Sharon was selected from a pool of more than 500 candidates by Savoy's editorial board as well as community leaders, including representatives from academia and the private sector.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines and United Express operate approximately 4,900 flights a day to 355 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 779 mainline aircraft and the airline's United Express carriers operate 569 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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 Names Jason Birnbaum Senior Vice President of Digital Technology

July 30, 2019

CHICAGO, July 30, 2019 /PRNewswire/ -- United Airlines today named Jason Birnbaum senior vice president of digital technology, growing his portfolio of responsibilities to encompass support for the carrier's commercial technologies, including those of its loyalty, sales, network and revenue management departments. Birnbaum most recently served as United's vice president of operations and employee technology, and in his new role Birnbaum will continue to support operations, customer and corporate technology.

Birnbaum will continue to report to Executive Vice President of Technology and Chief Digital Officer Linda Jojo.

"Since joining United four years ago, Jason has helped lead a significant transformation of our technology platforms, from how we deliver technology projects with speed and agility, to the reliability of the systems, to the tools themselves," said Jojo. "Jason is uniquely qualified to further drive our digital team's connection to the rest of our organization, resulting in both an improved operation and better overall customer experience."

Birnbaum was instrumental in the technical integrations involved in the successful cutover to United's SCEPTRE system and in the implementation of the airline's flight attendants' joint collective bargaining agreement. Birnbaum also oversaw the rollout of mobile devices to 60,000 of the carrier's front-line employees and game-changing tools including United's recent ConnectionSaver technology.

Prior to joining United, Birnbaum served as Executive Vice President and Chief Information Officer of SIRVA Inc., overseeing the company's IT systems for both customer-facing and business support systems. Prior to that, he served as Chief Information Officer for GE Health Care Global Supply Chain and GE Industrial Europe.

Birnbaum holds a bachelor's degree in finance from the University of Missouri and an MBA from the University of Illinois. Birnbaum and his wife Laura have three sons and reside in Elmhurst, a suburb of Chicago.

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, United recently announced that luxury skincare line Sunday Riley will make products exclusively for United customers to experience in amenity kits, released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next and made DIRECTV free for every passenger on 211 aircraft, offering more than 100 channels on seat back monitors on more than 30,000 seats.

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 Airlines 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 carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 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