United Airlines Reports Fourth-Quarter and Full-Year 2017 - United Hub
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United Airlines Reports Fourth-Quarter and Full-Year 2017 Performance

January 23, 2018

CHICAGO, Jan. 23, 2018 /PRNewswire/ -- United Airlines (UAL) today announced its fourth-quarter and full-year 2017 financial results. 

  • UAL reported fourth-quarter net income of $580 million, diluted earnings per share of $1.99, pre-tax earnings of $600 million and pre-tax margin of 6.4 percent. Excluding special charges and income tax adjustments, UAL reported fourth-quarter net income of $408 million, diluted earnings per share of $1.40, pre-tax earnings of $631 million and pre-tax margin of 6.7 percent.
  • UAL reported full-year net income of $2.1 billion, diluted earnings per share of $7.02, pre-tax earnings of $3.0 billion and pre-tax margin of 7.9 percent. Excluding special charges and income tax adjustments, UAL reported full-year net income of $2.1 billion, diluted earnings per share of $6.76, pre-tax earnings of $3.2 billion and pre-tax margin of 8.4 percent.
  • UAL repurchased $553 million of its common shares in the fourth quarter, bringing the full-year share repurchases to $1.8 billion and completing the company's July 2016 $2 billion share repurchase program. The company's board of directors authorized a new $3 billion share repurchase program in December.
  • During 2017, United consistently notched operational bests in on-time arrivals and completions while seeing the fewest cancellations and the best baggage performance in company history.
  • Employees earned $349 million in profit sharing for 2017.

"I am incredibly proud of how our employees delivered in 2017, achieving our best-ever operational performance. Reliability is an important pillar in our continued focus on further improving the customer experience," said Oscar Munoz, chief executive officer of United Airlines. "Looking ahead, we are committed to improving profitability over the long-term by building on the strong foundation we have laid over the past two years. Everyone at United is excited to enter 2018 with a clear set of priorities and a renewed sense of purpose around unlocking the full potential of United Airlines."

Fourth-Quarter and Full-Year Revenue

For the fourth quarter of 2017, revenue was $9.4 billion, an increase of 4.3 percent year-over-year. Fourth-quarter 2017 consolidated passenger revenue per available seat mile (PRASM) was up 0.2 percent compared to the fourth quarter of 2016. Cargo revenue was $304 million in the fourth quarter of 2017, an increase of 21.6 percent year-over-year primarily due to higher international freight volume and yields. For the full year of 2017, total revenue was $37.7 billion, an increase of 3.2 percent year-over-year.

"Everything we do at United is underpinned by a commitment to deliver top tier operational reliability," said Scott Kirby, president of United Airlines. "Thanks to the drive and dedication of our employees, we have significantly raised the bar in this area, delivering a record-setting operational performance in 2017. Looking ahead, our focus will be on continuing to improve customer service and expanding United's network to offer customers more choice."

Fourth-Quarter and Full-Year Costs

Total operating expense was $8.7 billion in the fourth quarter, up 8.2 percent year-over-year. Consolidated unit cost per available seat mile (CASM) increased 4.0 percent compared to the fourth quarter of 2016 due largely to higher fuel and labor expense. Fourth-quarter consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, increased 1.5 percent year-over-year, driven mainly by higher labor expense. For the full year, consolidated CASM increased 2.8 percent compared to full-year 2016 due largely to higher fuel and labor expense. Excluding special charges, third-party business expenses, fuel and profit sharing, consolidated CASM increased 3.1 percent compared to the prior year primarily due to expenses resulting from labor agreements ratified in 2016.

"We are encouraged by our financial results in the fourth quarter which capped a year of strong earnings. Additionally, throughout the year we made significant investments in the business while continuing to return cash to our shareholders through $1.8 billion of share repurchases," said Andrew Levy, executive vice president and chief financial officer of United Airlines. "In 2018, we will continue to focus on cost control, invest strategically into the business and utilize our new $3 billion share repurchase authorization to return cash to our shareholders."

 Capital Allocation

UAL generated $728 million in operating cash flow during the fourth quarter of 2017 and ended the quarter with $5.8 billion in unrestricted liquidity, including $2.0 billion of undrawn commitments under its revolving credit facility. UAL generated $3.4 billion in operating cash flow for the full year. The company continued to invest in its business through capital expenditures of $1.1 billion in the fourth quarter and a total of $4.0 billion for the full year. Adjusted capital expenditures, measured as capital expenditures including assets acquired through the issuance of debt and capital leases, airport construction financing, and excluding fully reimbursable projects, were $1.0 billion during the fourth quarter and $4.7 billion for the full year in 2017. The company contributed $419 million to its pension plans and made debt and capital lease principal payments of $1.0 billion during 2017.

For the 12 months ended Dec. 31, 2017, the company's pre-tax income was $3.0 billion and return on invested capital (ROIC) was 13.8 percent. In the fourth quarter, UAL purchased $553 million of its common shares at an average price of $59.61 per share. During 2017, UAL purchased $1.8 billion of its common shares at an average price of $66.30 per share. The company completed its July 2016 $2 billion share repurchase program and announced authorization for a new $3 billion share repurchase program, which represents approximately 14 percent of the company's market capitalization based on the closing stock price on Jan. 22, 2018.

UAL management will host an Investor Event at 4:30pm ET today to discuss fourth-quarter and full-year 2017 earnings, outline 2018 priorities, provide an update on United's network strategy and deliver a financial update. During this presentation, UAL will provide full-year 2018 guidance including earnings per share and establish long-term earnings targets. Please visit ir.united.com to access the first-quarter 2018 investor update, the webcast of the event and the company's presentation made available during the webcast, the entirety of which will be available on the website at the conclusion of the event.

Fourth-Quarter and Full-Year Highlights

Operations and Employees

  • Achieved a record-setting year for operational reliability, including best on-time departure performance, fewest cancellations, and best baggage handling performance.
  • The fourth quarter saw a record-breaking performance during the busy holiday travel season.
    • In December, United was first place among competitors in mainline on-time departures, completion factor, and on-time arrivals.
    • In November, United set company performance records during the busy Thanksgiving travel week, landing its best-ever Thanksgiving completion factor and twice breaking on-time performance records in the midst of the busiest travel days of the year.
  • Employees earned incentive payments of approximately $30 million for achieving operations performance goals in the fourth quarter, marking a full year of earned bonuses totaling approximately $87 million.
  • The company earned its seventh consecutive perfect 100 percent score on the Human Rights Campaign's Corporate Equality Index and a spot on the organization's list of "Best Places to Work for LGBT Equality."
  • Recognized as a Top 100 Best Places to Work in the U.S. by the Glassdoor Employees' Choice Awards.
  • Announced the appointment of Regional Presidents for California and New York/New Jersey, demonstrating our commitment to these communities and our hubs.
  • In response to the catastrophic weather events Harvey, Irma and Maria, United and its employees came together to keep the operation moving and take part in relief efforts, delivering more than 1.7 million pounds of relief supplies to impacted areas, and together with customers and employees, raised and contributed more than $9 million to community assistance.

Network and Fleet

  • Last year, announced 44 new domestic routes from the company's seven U.S. mainland hubs, and increased service on 11 routes to the Hawaiian Islands from Denver, Chicago, Los Angeles and San Francisco – offering more nonstop service to Hawaiian destinations than any other carrier. 
  • Announced 13 new international routes in 2017 including its newest route San Francisco to Papeete, Tahiti starting seasonally in October 2018.
  • By increasing its nonstop service from six hub cities to nine ski destinations, United offers customers the most service to the most ski destinations across the U.S.
  • During 2017, took delivery of 19 new Boeing aircraft, including twelve 777-300ER, three 787-9, four 737-800 and eight used Airbus aircraft including two A320 and six A319.
  • Announced an agreement with Boeing to convert 100 current 737 MAX orders into 737 MAX 10 aircraft starting in late 2020.
  • Announced an agreement with Airbus to modify its A350 order resulting in a conversion of the model type from the A350-1000 to the A350-900, an increase in the order size from 35 to 45 aircraft and a deferral of the first delivery to late 2022.
  • Retired the company's iconic Boeing 747 fleet with a final farewell flight between San Francisco and Honolulu.

Customer Experience

  • Took several actions to improve the overall customer experience – including providing more tools to employees to assist customers and increasing compensation for denied boarding.
  • Rolled out system-wide new Customer Solutions Desk with a dedicated team to develop creative solutions to assist customers in reaching their final destinations when their travel plans don't go as expected.
  • Decreased involuntary denied boardings by 92% since April, and in December only had 13 involuntary denied boardings.
  • Upgraded the Houston and Newark terminal experience with the opening of OTG experience, opened new security lanes with automated security bins at Chicago and Newark, and opened the brand new upgraded Los Angeles United Club along with new Global Services lobbies in Houston, Newark and Los Angeles.
  • Improved the customer experience at Houston George Bush Intercontinental Airport by offering customers shorter, more convenient connection times and better access to more destinations through "rebanking" of the hub. UAL will "rebank" Chicago O'Hare beginning in February of 2018.
  • Unveiled new enhancements to United's award-winning mobile app including bag tracking feature, ability to change and cancel flights in the app, add MileagePlus and United Club cards to the Apple Wallet, and allow customers to access boarding passes for 19 other carriers.
  • Became the first airline to give customers access to flight information and other amenities skills for Amazon Alexa, Google Assistant and Fitbit Ionic smartwatch.
  • Continued to improve the mobile tools used by employees, including the first release of the "in the moment" care app, and new functionality in flight attendant tools to better serve customers.
  • The company received the CIO 100 award, an acknowledged mark of enterprise excellence in business technology.
  • Launched a new online portal, United Jetstream, in an effort to simplify the travel management process and give corporate and agency customers an intuitive suite of self-service tools.

About United

United Airlines and United Express operate approximately 4,500 flights a day to 338 airports across five continents. In 2017, United and United Express operated more than 1.6 million flights carrying more than 148 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, Newark/New York, San Francisco and Washington, D.C. United operates 744 mainline aircraft and the airline's United Express carriers operate 518 regional aircraft. The airline is a founding member of Star Alliance, which provides service to 191 countries via 28 member airlines. For more information, visit united.com, follow @United on Twitter or connect on Facebook. The common stock of United's parent, United Continental Holdings, Inc., is traded on the NYSE 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," "forecast," "guidance," "outlook," "goals" 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 comply with the terms of our various financing arrangements; the costs and availability of financing; our ability to maintain adequate liquidity; our ability to execute our operational plans and revenue-generating initiatives, including optimizing our revenue; our ability to control our costs, including realizing benefits from our resource optimization efforts, cost reduction initiatives and fleet replacement programs; costs associated with any modification or termination of our aircraft orders; our ability to utilize our net operating losses; our ability to attract and retain customers; potential reputational or other impact from adverse events in our operations; demand for transportation in the markets in which we operate; an outbreak of a disease that affects travel demand or travel behavior; demand for travel and the impact that global economic and political conditions have on customer travel patterns; excessive taxation and the inability to offset future taxable income; 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); economic and political instability and other risks of doing business globally; our ability to cost-effectively hedge against increases in the price of aircraft fuel if we decide to do so; any potential realized or unrealized gains or losses related to fuel or currency hedging programs; the effects of any hostilities, act of war or terrorist attack; 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; the effects of any technology failures or cybersecurity breaches; disruptions to our regional network; the costs and availability of aviation and other insurance; industry consolidation or changes in airline alliances; the success of our investments in airlines in other parts of the world; competitive pressures on pricing and on demand; our capacity decisions and the capacity decisions of our competitors; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements and environmental regulations); the impact of regulatory, investigative and legal proceedings and legal compliance risks; the impact of any management changes; labor costs; 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; weather conditions; 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, 2016, 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-

UNITED CONTINENTAL HOLDINGS, INC.
STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED)

(In millions, except per share data) Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
%
Increase/
(Decrease)
Year Ended
December 31, 2017
Year Ended
December 31, 2016
%
Increase/
(Decrease)
Operating revenue:
Passenger:
Mainline
$6,582 $6,295 4.6 $26,552 $25,414 4.5
Operating revenue: Passenger: Regional 1,498 1,466 2.2 5,852 6,043 (3.2)
Operating revenue: Passenger: (B) Total passenger revenue 8,080 7,761 4.1 32,404 31,457 3.0
Operating revenue: Cargo 304 250 21.6 1,035 876 18.2
Operating revenue: Other operating revenue 1,054 1,041 1.2 4,297 4,223 1.8
Operating revenue:Other operating revenue: Total operating revenue 9,438 9,052 4.3 37,736 36,556 3.2
Operating expense:
Salaries and related costs
2,704 2,568 5.3 11,045 10,275 7.5
Operating expense: Aircraft fuel(C) 1,875 1,555 20.6 6,913 5,813 18.9
Operating expense: Landing fees and other rent 570 553 3.1 2,240 2,165 3.5
Operating expense: Regional capacity purchase 580 552 5.1 2,232 2,197 1.6
Operating expense: Depreciation and amortization 539 504 6.9 2,149 1,977 8.7
Operating expense: Aircraft maintenance materials and outside repairs 479 448 6.9 1,856 1,749 6.1
Operating expense: Distribution expenses 328 316 3.8 1,349 1,303 3.5
Operating expense: Aircraft rent 145 159 (8.8) 621 680 (8.7)
Operating expense: Special charges (D) 31 (31) NM 176 638 NM
Operating expense: Other operating expenses 1,458 1,423 2.5 5,657 5,421 4.4
Operating expense: Total operating expenses 8,709 8,047 8.2 34,238 32,218 6.3
Operating income: Operating income 729 1,005 (27.5) 3,498 4,338 (19.4)
Operating margin: 7.7% 11.1% (3.4) pts. 9.3% 11.9% (2.6) pts.
Operating margin, excluding special charges (A) (Non-GAAP) 8.1% 10.8% (2.7) pts. 9.7% 13.6% (3.9) pts.
Nonoperating income (expense):
Interest expense
(171) (148) 15.5 (643) (614) 4.7
Nonoperating income (expense): Interest capitalized 20 24 (16.7) 84 72 16.7
Nonoperating income (expense): Interest income 16 11 45.5 57 42 35.7
Nonoperating income (expense): Miscellaneous, net (D) 6 (8) NM 3 (19) NM
Nonoperating income (expense): Total nonoperating expense (129) (121) 6.6 (499) (519) (3.9)
Income before income taxes: Income before income taxes 600 884 (32.1) 2,999 3,819 (21.5)
Pre-tax margin:Pre-tax margin 6.4% 9.8% (3.4) pts. 7.9% 10.4% (2.5) pts.
Pre-tax margin: Pre-tax margin, excluding special charges and reflecting hedge adjustments (A) (Non-GAAP) 6.7% 9.5% (2.8) pts. 8.4% 12.2% (3.8) pts.
Income tax expense: Income tax expense (E) 20 487 (95.9) 868 1,556 (44.2)
Net income: Net income $580 $397 46.1 $2,131 $2,263 (5.8)
Earnings per share: Earnings per share, diluted $1.99 $1.26 57.9 $7.02 $6.85 2.5
Weighted average shares: Weighted average shares, diluted 291.8 315.7 (7.6) 303.6 330.3 (8.1)
  1. NM means Not Meaningful
Statistics:

NM Not meaningful

 

UNITED CONTINENTAL HOLDINGS, INC.
STATISTICS
Statistics: Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
%
Increase/
(Decrease)
Year Ended
December 31, 2017
Year Ended
December 31, 2016
%
Increase/
(Decrease)
Mainline:
Passengers (thousands)
26,926 25,590 5.2 108,017 101,007 6.9
Mainline:Revenue passenger miles (millions) 47,192 45,608 3.5 193,444 186,181 3.9
Mainline:Available seat miles (millions) 57,866 55,440 4.4 234,576 224,692 4.4
Mainline:Cargo ton miles (millions) 910 790 15.2 3,316 2,805 18.2
Mainline:Passenger revenue per available seat mile (cents) 11.37 11.35 0.2 11.32 11.31 0.1
Mainline:Average yield per revenue passenger mile (cents) 13.95 13.80 1.1 13.73 13.65 0.6
Mainline:Aircraft in fleet at end of period 744 737 0.9 744 737 0.9
Mainline:Average stage length (miles) 1,775 1,804 (1.6) 1,806 1,859 (2.9)
Mainline:Average daily utilization of each aircraft (hours: minutes) 10:16 9:54 3.7 10:27 10:06 3.5
Regional:
Passengers (thousands)
10,487 10,433 0.5 40,050 42,170 (5.0)
Regional:Revenue passenger miles (millions) 5,957 5,930 0.5 22,817 24,128 (5.4)
Regional:Available seat miles (millions) 7,162 7,078 1.2 27,810 28,898 (3.8)
Regional:Passenger revenue per available seat mile (cents) 20.92 20.71 1.0 21.04 20.91 0.6
Regional:Average yield per revenue passenger mile (cents) 25.15 24.72 1.7 25.65 25.05 2.4
Regional:Aircraft in fleet at end of period 518 494 4.9 518 494 4.9
Regional:Average stage length (miles) 558 560 (0.4) 558 564 (1.1)
Consolidated (Mainline and Regional):
Passengers (thousands)
37,413 36,023 3.9 148,067 143,177 3.4
Consolidated (Mainline and Regional)Revenue passenger miles (millions) 53,149 51,538 3.1 216,261 210,309 2.8
Consolidated (Mainline and Regional)Available seat miles (millions) 65,028 62,518 4.0 262,386 253,590 3.5
Consolidated (Mainline and Regional)Passenger load factor 81.7% 82.4% (0.7) pts. 82.4% 82.9% (0.5) pts.
Consolidated (Mainline and Regional)Domestic 85.2% 85.2% 85.2% 85.4% (0.2) pts.
Consolidated (Mainline and Regional)Internal 77.2% 78.9% (1.7) pts. 78.9% 80.0% (1.1) pts.
Consolidated (Mainline and Regional)Passenger revenue per available seat mile (cents) 12.43 12.41 0.2 12.35 12.40 (0.4)
Consolidated (Mainline and Regional)Total revenue per available seat mile (cents) 14.51 14.48 0.2 14.38 14.42 (0.3)
Consolidated (Mainline and Regional)Average yield per revenue passenger mile (cents) 15.20 15.06 0.9 14.98 14.96 0.1
Consolidated (Mainline and Regional)Aircraft in fleet at end of period 1,262 1,231 2.5 1,262 1,231 2.5
Consolidated (Mainline and Regional)Average stage length (miles) 1,431 1,441 (0.7) 1,460 1,473 (0.9)
Consolidated (Mainline and Regional)Average full-time equivalent employees (thousands) 85.6 84.8 0.9 86.0 83.9 2.5
Note:See Part II, Item 6 Selected Financial Data of the company's annual report on Form 10-K for the year ended December 31, 2016 for the definition of these statistics.

 

 

 

UNITED CONTINENTAL HOLDINGS, INC.
SUMMARY FINANCIAL METRICS (A)

(In millions, except per share data) Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
%
Increase/
(Decrease)
Year Ended
December 31, 2017
Year Ended
December 31, 2016
%
Increase/
(Decrease)
Operating income: Operating income $729 $1,005 (27.5) $3,498 $4,338 (19.4)
Operating margin:Operating margin: 7.7% 11.1% (3.4) pts. 9.3% 11.9% (2.6) pts.
Operating income, excluding special charges (Non-GAAP) 760 974 (22.0) 3,674 4,976 (26.2)
Operating margin, excluding special charges (Non-GAAP) 8.1% 10.8% (2.7) pts. 9.7% 13.6% (3.9) pts.
Adjusted EBITDA, excluding special charges and reflecting hedge adjustments (a) (Non-GAAP) $1,305 $1,474 (11.5) $5,826 $6,939 (16.0)
Adjusted EBITDA margin, excluding special charges and reflecting hedge adjustments (a) (Non-GAAP) 13.8% 16.3% (2.5) pts. 15.4% 19.0% (3.6) pts.
Pre-tax income $600 $884 (32.1) $2,999 $3,819 (21.5)
Pre-tax margin 6.4% 9.8% (3.4) pts. 7.9% 10.4% (2.5) pts.
Pre-tax income, excluding special charges and reflecting hedge adjustments (a) (Non-GAAP) 631 857 (26.4) 3,175 4,462 (28.8)
Pre-tax margin, excluding special charges and reflecting hedge adjustments (a) (Non-GAAP) 6.7% 9.5% (2.8) pts. 8.4% 12.2% (3.8) pts.
Net income: Net income $580 $397 46.1 $2,131 $2,263 (5.8)
Net income: Net income, excluding special charges and reflecting hedge adjustments (a) (Non-GAAP) 408 562 (27.4) 2,052 2,857 (28.2)
Diluted earnings per share: Diluted earnings per share $1.99 $1.26 57.9 $7.02 $6.85 2.5
Diluted earnings per share: Diluted earnings per share, excluding special charges and reflecting hedge adjustments (a) (Non-GAAP) 1.40 1.78 (21.3) 6.76 8.65 (21.8)
Net cash provided by operating activities: Net cash provided by operating activities $728 $658 10.6 $3,413 $5,542 (38.4)
Capital expenditures: Capital expenditures $1,098 $880 24.8 $3,998 $3,223 24.0
Capital expenditures: Adjusted capital expenditures (Non-GAAP) 1,046 1,078 (3.0) 4,729 3,347 41.3
Free cash flow: Free cash flow, net of financings (Non-GAAP) $(370) $(222) NM $(585) $2,319 NM
Free cash flow: Free cash flow (Non-GAAP) (318) (420) NM (1,316) 2,195 NM
(a) Hedge adjustments include prior period gains (losses) on fuel derivative contracts settled in the current period. See note D for further information.
(b) The company recorded a special income tax benefit adjustment of $192 million in 2017 and a special income tax expense adjustment of $180 million in 2016. See note E for further information on the income tax adjustments.

 

 

 

UNITED CONTINENTAL HOLDINGS, INC.
RETURN ON INVESTED CAPITAL (ROIC)

ROIC - Non-GAAP is a financial measure that we believe provides useful supplemental information for management and investors by measuring the effectiveness of our operations' use of invested capital to generate profits.
(in millions) Twelve Months Ended
December 31, 2017
Return On Invested CapitalNet Operating Profit After Tax (NOPAT)
Pre-tax income
$2,999
Return On Invested CapitalSpecial charges (D):
Severance and benefit costs
116
Return On Invested Capital
Impairment of assets
25
Return On Invested Capital
(Gains) losses on sale of assets and other special charges
35

Pre-tax income excluding special charges and reflecting hedge adjustments - Non-GAAP
3,175

add: Interest expense (net of income tax benefit) (a)
639

add: Interest component of capitalized aircraft rent (net of income tax benefit) (a)
302

add: Net interest on pension (net of income tax benefit) (a)
41

less: Income taxes paid
(20)

NOPAT - Non-GAAP
$4,137
Return On Invested CapitalInvested Capital (five-quarter average)
Total assets
$41,753

add: Capitalized aircraft operating leases (b)
4,585

less: Non-interest bearing liabilities (c)
(16,394)

Average invested capital - Non-GAAP
$29,944

Return On Invested Capital - Non-GAAP
13.8%
  • (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 reflecting hedge adjustments. For the twelve months ended December 31, 2017, the effective cash tax rate was 0.6%.
  • (b) The purpose of this adjustment is to capitalize the impact of aircraft operating leases. The company uses a multiple of seven times its annual aircraft rent expense to estimate the potential capitalized value and related liability of its aircraft. This is a simplified method used by many rating agencies and financial analysts to assist with the impact of operating leases on financial measures like return on invested capital.
  • (c) 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 operating income (loss) excluding special charges, income (loss) before income taxes excluding special charges and reflecting hedge adjustments, net income (loss) excluding special charges and reflecting hedge adjustments, net earnings (loss) per share excluding special charges and reflecting hedge adjustments, and CASM, as adjusted, among others.

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 non-recurring charges 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, fuel sales and non-air mileage redemptions, 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 recurring cost performance and provides a more meaningful comparison of our core operating costs to the airline industry. In addition, the company believes that adjusting for prior period gains and losses on fuel derivative contracts settled in the current period is useful because the adjustments allow investors to better understand the cash impact of settled fuel derivative contracts in a given period.

Pursuant to SEC Regulation G, UAL has included the following reconciliations of reported Non-GAAP financial measures to comparable financial measures reported on a GAAP basis.

Statistics: Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
%
Increase/
(Decrease)
Nine Months Ended
December 31, 2017
Nine Months Ended
December 31, 2016
%
Increase/
(Decrease)
CASM Mainline Operations (cents)
Cost per available seat mile (CASM)
12.90 12.43 3.8 12.59 12.22 3.0
Cost per available seat mile (CASM)Special charges (D) 0.06 (0.06) NM 0.07 0.29 NM
Cost per available seat mile (CASM)Third-party business expenses 0.12 0.13 (7.7) 0.12 0.11 9.1
Cost per available seat mile (CASM)Fuel expense 2.68 2.33 15.0 2.46 2.16 13.9
CASM Mainline OperationsCASM, excluding special charges, third-party business expenses and fuel 10.04 10.03 0.1 9.94 9.66 2.9
CASM Mainline OperationsProfit sharing per available seat mile 0.08 0.22 (63.6) 0.15 0.28 (46.4)
CASM Mainline OperationsCASM, excluding special charges, third-party business expenses, fuel, and profit sharing 9.96 9.81 1.5 9.79 9.38 4.4
CASM Consolidated Operations (cents)Cost per available seat mile (CASM) 13.39 12.87 4.0 13.05 12.70 2.8
CASM Mainline Operations (cents)Special charges (D) 0.04 (0.05) NM 0.07 0.25 NM
CASM Mainline Operations (cents)Third-party business expenses 0.12 0.11 9.1 0.10 0.10
CASM Mainline Operations (cents) Fuel expense 2.88 2.49 15.7 2.64 2.29 15.3
CASM Mainline Operations (cents) CASM, excluding special charges, third-party business expenses and fuel 10.35 10.32 0.3 10.24 10.06 1.8
CASM Mainline Operations (cents) Profit sharing per available seat mile 0.07 0.19 (63.2) 0.13 0.25 (48.0)
CASM Mainline Operations (cents) CASM, excluding special charges, third-party business expenses, fuel, and profit sharing 10.28 10.13 1.5 10.11 9.81 3.1

 

UNITED CONTINENTAL HOLDINGS, INC.
NON-GAAP FINANCIAL RECONCILIATION (Continued)
(In millions) Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
$
Increase/
(Decrease)
%
Increase/
(Decrease)
Year Ended
December 31, 2017
Year Ended
December 31, 2016
$
Increase/
(Decrease)
%
Increase/
(Decrease)
Operating expenses $8,709 $8,047 $662 8.2 $34,238 $32,218 $2,020 6.3
Operating expensesSpecial charges (D) 31 (31) 62 NM 176 638 (462) NM
Operating expenses, excluding special charges Operating expenses, excluding special charges 8,678 8,078 600 7.4 34,062 31,580 2,482 7.9
Operating expenses, excluding special chargesThird-party business expenses 72 69 3 4.3 277 257 20 7.8
Operating expenses, excluding special chargesFuel expense 1,875 1,555 320 20.6 6,913 5,813 1,100 18.9
Operating expensesProfit sharing, including taxes 45 122 (77) (63.1) 349 628 (279) (44.4)
Operating expensesOperating expenses, excluding fuel, profit sharing, special charges and third-party business expenses $6,686 $6,332 $354 5.6 $26,523 $24,882 $1,641 6.6
Operating income $729 $1,005 $(276) (27.5) $3,498 $4,338 $(840) (19.4)
Operating incomeLess: Special charges (D) 31 (31) 62 NM 176 638 (462) NM
Operating incomeOperating income, excluding special charges $760 $974 $(214) (22.0) $3,674 $4,976 $(1,302) (26.2)
Operating incomeIncome before income taxes $600 $884 $(284) (32.1) $2,999 $3,819 $(820) (21.5)
Operating incomeSpecial charges and hedge adjustments before income taxes (D) 31 (27) 58 NM 176 643 (467) NM
Operating incomeIncome before income taxes and excluding special items $631 $857 $(226) (26.4) $3,175 $4,462 $(1,287) (28.8)
Operating incomeNet income $580 $397 $183 46.1 $2,131 $2,263 $(132) (5.8)
Operating incomeSpecial charges and hedge adjustments, net of tax (D) (172) 165 (337) NM (79) 594 (673) NM
Operating incomeNet income, excluding special charges and reflecting hedge $408 $562 $(154) (27.4) $2,052 $2,857 $(805) (28.2)
Diluted earnings per shareDiluted earnings per share $1.99 $1.26 $0.73 57.9 $7.02 $6.85 $0.17 2.5
Diluted earnings per shareSpecial charges and hedge adjustments 0.11 (0.09) 0.20 NM 0.58 1.95 (1.37) NM
Diluted earnings per shareTax effect related to special charges and hedge adjustments (0.70) 0.61 (1.31) NM (0.84) (0.15) (0.69) NM
Diluted earnings per shareDiluted earnings per share, excluding special items $1.40 $1.78 $(0.38) (21.3) $6.76 $8.65 $(1.89) (21.8)

 

UNITED CONTINENTAL HOLDINGS, INC.
NON-GAAP FINANCIAL RECONCILIATION (Continued)

UAL provides financial metrics, including earnings before interest, taxes, depreciation and amortization (EBITDA), that we believe provide useful supplemental information for management and investors by measuring profit and profit as a percentage of total operating revenues. Adjusted EBITDA is EBITDA excluding special charges that are non-recurring and that management believes are not indicative of UAL's ongoing performance. Adjusted EBITDA also includes hedge adjustments to reflect the cash impact of fuel derivative contracts settled in the current period.

EBITDA
(In millions)
Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
Year Ended
December 31, 2017
Year Ended
December 31, 2016
Net income:
Net income
$580 $397 $2,131 $2,263
Net income Adjusted for:Depreciation and amortization 539 504 2,149 1,977
Net income Adjusted for:Interest expense 171 148 643 614
Net income Adjusted for:Interest capitalized (20) (24) (84) (72)
Net income Adjusted for:Interest income (16) (11) (57) (42)
Net income Adjusted for:Income tax expense(E) 20 487 868 1,556
Net income Adjusted for:Special charges and hedge adjustments before income taxes (D) 31 (27) 176 643
Adjusted EBITDA, excluding special charges and reflecting hedge adjustments - Non-GAAPAdjusted EBITDA, excluding special charges and reflecting hedge adjustments - Non-GAAP $1,305 $1,474 $5,826 $6,939

UAL believes that adjusting capital expenditures for assets acquired through the issuance of debt and capital leases, airport construction financing and excluding fully reimbursable projects is useful to investors in order to appropriately reflect the non-reimbursable funds 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.

Capital Expenditures
(In millions)

Three Months Ended


December 31, 2017
Three Months Ended
December 31, 2016
Year Ended
December 31, 2017
Year Ended
December 31, 2016
Capital expenditures:Capital expenditures $1,098 $880 $3,998 $3,223
Capital expenditures:Property and equipment acquired through the issuance of debt and capital leases 17 271 935 386
Capital expenditures:Airport construction financing 1 23 42 91
Capital expenditures:Fully reimbursable projects (70) (96) (246) (353)
Capital expenditures:Adjusted capital expenditures – Non-GAAP $1,046 $1,078 $4,729 $3,347
Free Cash Flow
(In millions)
Free Cash Flow:Net cash provided by operating activities $728 $658 $3,413 $5,542
Free Cash Flow:Less capital expenditures 1,098 880 3,998 3,223
Free Cash Flow:Free cash flow, net of financings - Non-GAAP $(370) $(222) $(585) $2,319
Free Cash Flow:Net cash provided by operating activities $728 $658 $3,413 $5,542
Free Cash Flow:Less adjusted capital expenditures – Non-GAAP 1,046 1,078 4,729 3,347
Free Cash Flow:Free cash flow - Non-GAAP $(318) $(420) $(1,316) $2,195

 

UNITED CONTINENTAL HOLDINGS, INC.
NOTES (UNAUDITED)
(B) Select passenger revenue information is as follows (in millions):
Notes (Unaudited): 4Q 2017
Passenger
Revenue
(millions)
Passenger Revenue
vs.
4Q 2016
PRASM
vs.
4Q 2016
Yield
vs.
4Q 2016
Available Seat Miles
vs.
4Q 2016
Mainline:Mainline $3,626 7.3% 0.3% 0.1% 7.1%
Regional:Regional 1,453 2.7% 1.0% 1.9% 1.7%
Domestic:Domestic 5,079 6.0% (0.1%) 0.0% 6.0%
Atlantic:Atlantic 1,312 5.3% 1.3% 1.5% 4.0%
Pacific:Pacific 986 (4.3%) (2.9%) 0.6% (1.4%)
Latin America:Latin America 703 1.6% (0.6%) 2.6% 2.3%
International:International 3,001 1.1% (0.4%) 1.9% 1.4%
Consolidated:Consolidated 8,080 4.1% 0.2% 0.9% 4.0%
Mainline:Mainline $6,582 4.6% 0.2% 1.1% 4.4%
Regional:Regional 1,498 2.2% 1.0% 1.7% 1.2%
Consolidated:Consolidated 8,080        

 

UNITED CONTINENTAL HOLDINGS, INC.
NOTES (UNAUDITED)

(C) UAL's results of operations include fuel expense for both mainline and regional operations.
(In millions, except per gallon) Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
%
Increase/
(Decrease)
Nine Months Ended
December 31, 2017
Nine Months Ended
December 31, 2016
%
Increase/
(Decrease)
Mainline fuel expense excluding hedge impacts Mainline fuel expense excluding hedge impacts $1,551 $1,270 22.1 $5,770 $4,640 24.4
Hedge losses reported in fuel expense (a) (20) NM (2) (217) NM
Total mainline fuel expenseTotal mainline fuel expense 1,551 1,290 20.2 5,772 4,857 18.8
Regional fuel expense Regional fuel expense 324 265 22.3 1,141 956 19.4
Consolidated fuel expenseConsolidated fuel expense $1,875 $1,555 20.6 $6,913 $5,813 18.9
Mainline fuel consumption (gallons)Mainline fuel consumption (gallons) 820 804 2.0 3,357 3,261 2.9
Mainline average aircraft fuel price per gallonMainline average aircraft fuel price per gallon $1.89 $1.60 18.1 $1.72 $1.49 15.4
Mainline average aircraft fuel price per gallon excluding hedge losses recorded in fuel expenseMainline average aircraft fuel price per gallon excluding hedge losses recorded in fuel expense $1.89 $1.58 19.6 $1.72 $1.42 21.1
Regional fuel consumption (gallons)Regional fuel consumption (gallons) 160 158 1.3 621 643 (3.4)
Regional average aircraft fuel price per gallonRegional average aircraft fuel price per gallon $2.03 $1.68 20.8 $1.84 $1.49 23.5
Consolidated fuel consumption (gallons)Consolidated fuel consumption (gallons) 980 962 1.9 3,978 3,904 1.9
Consolidated average aircraft fuel price per gallonConsolidated average aircraft fuel price per gallon $1.91 $1.62 17.9 $1.74 $1.49 16.8
Consolidated average aircraft fuel price per gallon excluding hedge losses recorded in fuel expenseConsolidated average aircraft fuel price per gallon excluding hedge losses recorded in fuel expense $1.91 $1.60 19.4 $1.74 $1.43 21.7
  • (a) UAL allocates 100 percent of losses from settled hedges that were designated for hedge accounting to mainline fuel expense.
 

(a)   UAL allocates 100 percent of losses from settled hedges that were designated for hedge accounting to mainline fuel expense.

 

 

 

UNITED CONTINENTAL HOLDINGS, INC.
NOTES (UNAUDITED)

(D) Special charges, hedge adjustments and income tax include the following:
(In millions) Three Months Ended
December 31, 2017
Three Months Ended
December 31, 2016
Year Ended
December 31, 2017
Year Ended
December 31, 2016
Operating:
Severance and benefit costs
$15 $10 $116 $37
Operating:Impairment of assets 10 25 412
Operating:Labor agreement costs (60) 64
Operating:Cleveland airport lease restructuring 74
Operating:(Gains) losses on sale of assets and other special charges 6 19 35 51
Operating:Subtotal 31 (31) 176 638
Other nonoperating (gains) losses:Other nonoperating (gains) losses (1)
Total special charges:Total special charges 31 (31) 176 637
Income tax benefit related to special charges:Income tax benefit related to special charges (11) 12 (63) (229)
Total special charges, net of income taxes:Total special charges, net of income taxes 20 (19) 113 408
Income tax adjustments (E) (192) 180 (192) 180
Hedge adjustments: prior period gains on fuel derivative contracts settled in the current period:Hedge adjustments: prior period gains on fuel derivative contracts settled in the current period 4 6
Total special charges and hedge adjustments, net of income taxes:Total special charges and hedge adjustments, net of income taxes $(172) $165 $(79) $594

 

Special charges, hedge adjustments and income tax adjustments

 

Severance and benefit costs: During the three months and year ended December 31, 2017, the company recorded $10 million ($6 million net of taxes) and  $83 million ($53 million net of taxes), respectively, 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 (the "IBT"). In the first quarter of 2017, approximately 1,000 technicians and related employees elected to voluntarily separate from the company and will receive 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 and year ended December 31, 2017, the company recorded $5 million ($3 million net of taxes) and $33 million ($21 million net of taxes), respectively, of severance primarily related to its management reorganization initiative.

 

During the three months and year ended December 31, 2016, the company recorded $10 million ($6 million net of taxes) and $37 million ($24 million net of taxes), respectively, of severance and benefit costs related to a voluntary early-out program for the company's flight attendants and other severance agreements.

 

Impairment of assets: In the fourth quarter of 2017, the company recorded a $10 million ($6 million net of taxes) impairment charge related to obsolete spare parts inventory.  During 2017, United recorded a $15 million ($10 million net of taxes) intangible asset impairment charge related to a maintenance service agreement.

 

In April 2016, the Federal Aviation Administration ("FAA") announced that, effective October 30, 2016, it would designate Newark Liberty International Airport ("Newark") as a Level 2 schedule-facilitated airport under the International Air Transport Association Worldwide Slot Guidelines. The designation was associated with an updated demand and capacity analysis of Newark by the FAA. In the second quarter of 2016, the company determined that the FAA's action impaired the entire value of its Newark slots because the slots are no longer the mechanism that governs take-off and landing rights. Accordingly, the company recorded a $412 million special charge ($264 million net of taxes) to write off the intangible asset.

 

Labor agreement costs and related items: In 2016, the fleet service, passenger service, storekeeper and other employees represented by the International Association of Machinists and Aerospace Workers (IAM) ratified seven new contracts with the company which extended the contracts through 2021. Also in 2016, the technicians and related employees represented by the International Brotherhood of Teamsters (IBT) ratified a six-year joint collective bargaining agreement which extended the contract through 2022. During 2016, the company recorded $171 million ($110 million net of taxes) of special charges primarily for payments in conjunction with the IAM and IBT agreements described above. As part of the ratified contract with the IBT, the company amended some of its technicians and related employees' postretirement medical plans. The amendments triggered curtailment accounting, resulting in the recognition of a one-time $60 million gain ($38 million net of taxes) for accelerated recognition of a prior service credit in one of the plans. Also, as part of the ratified contract with the Association of Flight Attendants, the company amended two of its flight attendant postretirement medical plans. The amendments triggered curtailment accounting, resulting in the recognition of a one-time $47 million gain ($30 million net of taxes) for accelerated recognition of a prior service credit.

 

Cleveland airport lease restructuring: During 2016, the City of Cleveland agreed to amend the company's lease, which runs through 2029, associated with certain excess airport terminal space (principally Terminal D) and related facilities at Hopkins International Airport. The company recorded an accrual for remaining payments under the lease for facilities that the company no longer uses and will continue to incur costs under the lease without economic benefit to the company. This liability was measured and recorded at its fair value when the company ceased its right to use such facilities leased to it pursuant to the lease. The company recorded a special charge of $74 million ($47 million net of taxes) related to the amended lease.

 

Hedge adjustments: Prior to 2017, the company used certain combinations of derivative contracts that were economic hedges but did not qualify for hedge accounting under U.S. generally accepted accounting principles.  As with derivatives that qualified for hedge accounting, the economic hedges and individual contracts were part of the company's program to mitigate the adverse financial impact of potential increases in the price of fuel. The company recorded changes in the fair value of the various contracts that were not designated for hedge accounting to Nonoperating income (expense): Miscellaneous, net in the statements of consolidated operations. During the three months and year ended December 31, 2016, for fuel derivative contracts that settled in the three months and year ended December 31, 2016, the company recorded mark-to-market gains of $4 million and $6 million, respectively, in prior periods.

 

(E) Effective tax rate: The company's effective tax rate for the three months and year ended December 31, 2017 was 3.5% and 29.0%, respectively.  The company's effective tax rate for the three months and year ended December 31, 2016 was 55.1% and 40.7%, respectively. The rate for both 2017 periods was impacted by a one-time, $192 million benefit due to the passage of the Tax Cuts and Jobs Act in the fourth quarter of 2017. The rate for both 2016 periods was impacted by a special tax expense of $180 million.  In 2016, the company recorded approximately $180 million of deferred income tax expense adjustments in AOCI, which related to losses on fuel hedges designated for hedge accounting. Accounting rules required the adjustments to remain in AOCI as long as the company had fuel derivatives designated for cash flow hedge accounting. In 2016, we settled all of our fuel hedges and have not entered into any new fuel derivative contracts for hedge accounting. Accordingly, the company reclassified the $180 million to income tax expense in 2016.

 

The effective tax rates for the 2017 and 2016 periods represented a blend of federal, state and foreign taxes and the impact of certain nondeductible items. The effective tax rate for the three months and year ended December 31, 2017 reflects the impact of a change in the 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 Announces Headquarters to Remain at Iconic Willis Tower

March 13, 2019

CHICAGO, March 13, 2019 /PRNewswire/ -- United Airlines announced today it will keep its headquarters at the iconic Willis Tower in the airline's hometown of Chicago, while partnering with the building's owner, Blackstone, in making major investments to completely transform the current workspace and experience.

The new deal to remain at Willis Tower provides the airline with a tremendous opportunity to completely reimagine the workspace from the bottom up. Over the coming months and years, United will be embarking on a process to redesign workspaces to allow employees to better collaborate, use the latest technology and interact with each other with the end goal of providing unmatched service to front-line employees and customers. By making these investments, it also enables United to better recruit and retain top talent from the Chicagoland area and beyond who have come to expect modern and more efficient places of work.

"As one of the city's largest private employers and its hometown airline, we are excited to deepen our roots here in Chicago while making the investments needed to reimagine the headquarters for our employees," said Oscar Munoz, United's chief executive officer. "The investments we are making will help our employees provide unparalleled service to our front-line colleagues and to our customers as we continue to improve and realize our airline's full potential."

The new agreement extends United's existing lease to March 31, 2033. Additionally, Blackstone is already investing more than $500 million into Willis Tower for all tenants, which will transform the building from the inside out.

"We are thrilled with United's decision to remain at Willis Tower in a reimagined headquarters," said Jon Gray, Blackstone's president. "This is terrific news for Chicago and a testament to our exciting $500 million revitalization program underway at the property. We look forward to partnering with United in this effort. Willis Tower will continue its role as an iconic business, retail and tourist destination in the heart of the city."

As one of the most ideally situated buildings in the city, with easy access to all CTA train lines, Union and Ogilvie Stations, as well as nearby bus stops, Willis Tower already provides distinct advantages and will remain attractive to future job seekers throughout the metropolitan region. Commercial real estate services firm JLL represented United in the deal.

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 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

Meet United Airlines' New Meetings Portal, Available on United Jetstream

March 11, 2019

CHICAGO, March 11, 2019 /PRNewswire/ -- United Airlines is improving the way customers plan travel for meetings, conferences, conventions and more with the launch of its new state-of-the-art United Meetings product, available on the airline's business portal, United Jetstream. The new product makes managing travel and redeeming rewards for meetings and events quicker and more streamlined with enhancements that include discounts accessible in one business day, instant amenity redemption and personalized reports accessible at the click of a mouse.

"At United, our mission is to connect people and unite the world. This new Meetings portal on Jetstream allows us to do just that by making it easier and more rewarding to bring people together for meetings, events, conferences and more," said Jake Cefolia, senior vice president of worldwide sales at United. "We're listening to our customers and making changes that they ask for as we continue to make traveling and working with United better every day."

United Meetings handles the work of getting attendees to events around the world in comfort and with a discount. The new portal makes it easy for meeting planners to make a request and receive flexible discounts for participants within one business day, and quickly turn travel funds into rewards such as beverage coupons, travel certificates, United Club passes and memberships and more. The site also provides planners with a personalized dashboard to track the number of tickets booked, flights flown, amenities funds earned and the number of tickets needed for the next amenity award, helping users stay up-to-date on rewards and meetings attendance.

United Meetings is available to organizations around the world who are interested in hosting a meeting of 10 or more participants. Discounts are extended to travel on United's Star Alliance and joint venture partners, making traveling and connecting on partner airlines seamless.

United is continuing to add value to its Meetings product to deliver an experience and tool that meets and exceeds the needs of its customers. To get started with hosting a meeting, or to become a United Meetings customer visit http://www.united.business/meetings.

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. United recently announced the addition of more than 1,600 new premium seats to international, domestic and regional aircraft, creating more comfort for more customers in the skies. Additionally, United recently 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

United Airlines Springs Forward with New Routes Starting this Month

March 08, 2019

CHICAGO, March 8, 2019 /PRNewswire/ -- United Airlines is expanding its route network this month by launching service this weekend from Cleveland, Denver and Los Angeles to eight cities in California, Florida and Texas. The new service, announced last year, offers customers even more options when traveling over spring break and to warmer destinations this summer.

"These new routes demonstrate our continued commitment to offer our customers more choices than any other airline while making the travel experience more convenient," said Ankit Gupta, United's vice president of domestic network planning.

New routes starting this weekend:

Depart

Arrive

Start Day

Los Angeles (LAX)

Redding, CA (RDD)

March 8, 2019

Denver (DEN)

Santa Rosa, CA (STS)

March 8, 2019

Denver (DEN)

Brownsville, TX (BRO)

March 9, 2019

Denver (DEN)

West Palm Beach, FL (PBI)

March 9, 2019

Denver (DEN)

Pensacola, FL (PNS)

March 9, 2019

Denver (DEN)

Sarasota, FL (SRQ)

March 9, 2019

Denver (DEN)

Destin/Fl. Walton Beach, FL (VPS)

March 9, 2019

Cleveland (CLE)

Tampa, FL (TPA)

March 9, 2019

Later this month, United customers can look forward to 10 more cities from Denver, Los Angeles, New York/Newark, San Francisco and Washington, D.C., including inaugural service from Paine Field in Everett, Washington to Denver and San Francisco. Paine Field airport, is located north of Seattle and is among the fasting growing areas in the nation. By connecting Paine Field to two of the airline's largest hubs, United customers will now have more convenient access to United's worldwide network.

New domestic routes include:

Depart

Arrive

Start Day

Los Angeles (LAX)

Eugene, OR (EUG)

March 30, 2019

Denver (DEN)

Everett, WA (PAE)

March 31, 2019

Denver (DEN)

Flagstaff, AZ (FLG)

March 31, 2019

Newark (EWR)

Hilton Head Island, SC (HHH)

March 31, 2019

Dulles (IAD)

Elmira, NY (ELM)

March 31, 2019

Dulles (IAD)

Manchester, NH (MHT)

March 31, 2019

Dulles (IAD)

Hilton Head Island, SC (HHH)

March 31, 2019

Los Angeles (LAX)

Madison, WI (MSN)

March 31, 2019

Los Angeles (LAX)

Pasco, WA (PSC)

March 31, 2019

San Francisco (SFO)

Everett, WA (PAE)

March 31, 2019

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. United recently announced the addition of more than 1,600 new premium seats to international, domestic and regional aircraft, creating more comfort for more customers in the skies. Additionally, United recently 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

New Maintenance Complex Deepens United Airlines' Commitment to Los Angeles, with Nearly $1 Billion Recent Investment at LAX

February 28, 2019

LOS ANGELES, Feb. 28, 2019 /PRNewswire/ -- Today, United Airlines and Los Angeles World Airports (LAWA) broke ground on a state-of-the-art Technical Operations Center (TOC) at Los Angeles International Airport (LAX) that will enable the airline to provide exceptional service for all of its aircraft fleets. The new facility will include two connected buildings – a ground service equipment and facilities maintenance building and a line maintenance hangar, including an engine support shop that will focus on the aircraft's Dreamliner fleet. The commencement of this $352 million TOC pushes the airline's investments at its Los Angeles hub to nearly $1 billion in recent years.

The new TOC will consolidate two facilities that United currently operates at LAX that are located a mile and a half apart, improving efficiency with not only moving aircraft around the airport but with transporting employees, parts, tools and other supplies – ultimately leading to a more efficient operation for customers. The TOC will be located near the airline's terminal and stand at 407,408 square feet. The facility's hangar will be able to accommodate up to six narrow-body or two widebody aircraft at a time, supporting United's 150 flights that depart from LAX every day. The TOC will help United's growing operation in Los Angeles by continuing to deliver an on time, safe and reliable operation.

"Our continued investments emphasize our commitment to our customers in Los Angeles as California's global airline. This modern, world-class facility will create more than 800 jobs in L.A. during the construction process, and will be home to more than 500 United employees once it is completed," said Greg Hart, chief operations officer at United. "This builds on our recently completed nearly $600 million renovation to our terminal at LAX, including opening a brand-new United Polaris lounge earlier this year."

"Los Angeles World Airports and United Airlines have a shared vision for modern and efficient facilities," said Deborah Flint, CEO, LAWA. "United Airlines' new LAX Technical Operations Center integrates state-of-the-art technology and a modern design that complements the transformation that is taking place across LAX. This project will create hundreds of local jobs and bring us one step closer to the Gold-Standard airport that Los Angeles deserves."

United tapped AECOM Hunt to be the prime contractor for the project, and selected FSB as lead architect for the facility. The airline is also partnering with AvAirPros, which is providing project management services during construction of the TOC.

United is also investing in additional maintenance facilities at key airports around the country. Tampa airport authorities recently approved a ground lease for a new hangar that will have room for two Boeing 737MAX aircraft. The airline is also continuing construction on an expansive new technical operations center at Houston's George Bush Intercontinental Airport, which consolidates the airline's maintenance operations in a complex that provides greater efficiency and flexibility. United is also moving into a new hangar in Portland, Oregon and working with the City of Chicago to create a new hangar as part of the O'Hare Modernization Program.

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. United recently announced the addition of more than 1,600 new premium seats to international, domestic and regional aircraft, creating more comfort for more customers in the skies. Additionally, United recently 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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"

SOURCE United Airlines

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

United Airlines Giving Women Artists A Larger Than Life Canvas: An Aircraft

February 28, 2019

CHICAGO, Feb. 28, 2019 /PRNewswire/ -- In advance of Women's History Month beginning on Friday, United Airlines is launching 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. While 51% of today's artists are women, less than 13% of art on display in museums is by women artists according to The National Museum of Women in the Arts. Painting a Boeing 757 provides artists with a traveling canvas that flies on average 1.6 million miles a year and 476 cross-country trips. The aircraft is roughly 3,666 times larger than the typical 18" x 24" canvas.

"As a company, we believe in the importance of equality of women in what has historically been a male dominated field," said Jill Kaplan, United's president for New York and New Jersey. "When we heard the statistics about how underrepresented women are when it comes to displaying their art, we thought what better way to contribute to changing this narrative than by offering the biggest canvas we have access to – an aircraft."

United has long been committed to being a leader in advancing women in the aviation industry. Today the carrier has more women who are pilots than any other airline in the world, including Bebe O'Neil, United's System Chief Pilot, who manages the carrier's 12,600 pilots. The airline has worked with Women in Aviation, a nonprofit organization which provides networking, education, mentoring, and scholarship opportunities, for more than 25 years and Girls in Aviation Day to ensure a growing number of female pilots.

"As a global company with inclusion at our core, we constantly seek unique opportunities to celebrate and showcase diverse talents," United's California President Janet Lamkin commented. "We are thrilled to have the opportunity through this unique contest to bring visibility to the work of these exceptional female artists. We take pride in leveraging our global presence to showcase their great work to millions of people who see our planes on the ground and in the sky."

To enter, individuals must identify as a woman, including cisgender, transgender, woman-aligned or non-binary, and reside in the United States, who can visually represent either New York/New Jersey or California, two key markets for the airline, in their own style, while combining the company's mission and what the communities in each region mean to the artist. Two winners, one representing each region, will be chosen and given a chance to work alongside renowned artist Shantell Martin to finalize a design for their respective region's plane. Shantell brings to the contest her talents and work, from the New York City Ballet to a collaboration with Pulitzer Prize-winning artist Kendrick Lamar, which are full of whimsical drawings and storytelling, that are dedicated to making sure other women artists are seen.

To enter, individuals are encouraged to visit united.com/HerArtHere and submit a design idea, examples of their work portfolio along with a short video by March 24, 2019. Submissions will be judged and narrowed down to three finalists by a panel of judges from each region, led by each region's president, Janet Lamkin in California and Jill Kaplan in New York/New Jersey from March 25 – April 9, 2019, followed by a public vote from April 10 – April 19, 2019 to determine the winning artists from each region. Finalists and winners will also receive their own open gallery show, have their art work on display inside United Airlines terminals through 2019 with their works available to purchase and they will also be awarded 100,000 MileagePlus award miles. The final designs will take flight this fall.

Customers in Los Angeles and New York have an opportunity to visit murals by Shantell Martin as part of this contest. Each mural showcases interactive airplane windows that lead to videos with more information. The murals will be on display from now until March 18 at 799 West 8th Street, Los Angeles, CA and at 38 Norman Ave, Brooklyn, NY.

For additional information and complete rules visit: united.com/HerArtHere

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 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

United Airlines to Present at 2019 J.P. Morgan Aviation, Transportation and Industrials Conference

February 27, 2019

CHICAGO, Feb. 27, 2019 /PRNewswire/ -- United Airlines (UAL) will present at the 2019 J.P. Morgan Aviation, Transportation and Industrials Conference on Tuesday, March 5. Scott Kirby, president of United Airlines, will present at the conference beginning at 9:30 a.m. ET / 8:30 a.m. CT.

The live webcast and accompanying presentation 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 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

United Airlines Taps Industry Veteran for Senior Role; Robert Rivkin Named SVP and General Counsel

February 22, 2019

CHICAGO, Feb. 22, 2019 /PRNewswire/ -- United Airlines today named transportation industry veteran Robert S. Rivkin senior vice president and general counsel. For the last three decades, Rivkin has drawn on his exceptional legal skills while serving in leadership positions in the airline industry, the U.S. Department of Transportation (DOT) and local government. Rivkin brings this unique background and extraordinary skill set to a top role at one of the world's leading airlines. At United, he will be responsible for all legal matters, as well as ethics, compliance, government contracting and security. Rivkin will report to Executive Vice President and Chief Administrative Officer Brett Hart.

"Bob's distinguished career in public service, the legal community and the airline industry make him an ideal fit for this critical role on our United team. He's a proven leader who will make an immediate impact as we work to fulfill United's incredible potential," said United Airlines Chief Executive Officer Oscar Munoz.

Rivkin is no stranger to the commercial aviation industry, having served as deputy general counsel for Delta Air Lines from 2013 to 2016. Prior to joining Delta, he served as general counsel for the DOT from 2009 to 2013, where he was sworn in following a unanimous confirmation by the U.S. Senate. Currently, Rivkin serves as the deputy mayor of the City of Chicago. He has also worked in private law practice and as a federal prosecutor.

Rivkin graduated magna cum laude from Harvard College, and received a juris doctorate degree from Stanford Law School, where he was an associate editor of the Stanford Law Review. Rivkin and his wife of more than 30 years have three children. Rivkin's last day as Chicago's deputy mayor will be February 28, and he will start his new role at United the week of March 18.

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 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

United Applies to Serve Tokyo Haneda from Six Leading U.S. Hubs

February 21, 2019

CHICAGO, Feb. 21, 2019 /PRNewswire/ -- United Airlines announced today it has filed an application with the U.S. Department of Transportation (DOT) for a total of six daily nonstop flights to Tokyo Haneda Airport (HND) from Newark Liberty International Airport (EWR), Chicago O'Hare International Airport (ORD), Washington Dulles International Airport (IAD), Los Angeles International Airport (LAX), Houston George Bush Intercontinental Airport (IAH) and Guam's A.B. Won Pat International Airport (GUM). Pending completion of an aviation agreement between the U.S. and Japanese governments later this year, and slots awarded by DOT, the flights are expected to begin service by the summer of 2020.

United has presented a proposal maximized to meet consumer demand and benefit U.S. travelers. Together, the flights from five U.S. mainland hub cities and Guam will connect Tokyo Haneda with 112 U.S. airports, representing approximately two thirds of U.S.-Tokyo demand, or more than three million annual Tokyo bookings. With United's proposed routes representing five of the six largest metropolitan areas in the U.S. mainland and a combined population of nearly 56 million, the new flights requested in this proceeding will provide consumers with more choices and more convenient options when selecting Tokyo Haneda for their travel plans.

"If awarded by the DOT, these new nonstop flights would expand United's best-in-class Japan route network to better meet demand from U.S. consumers and businesses," said United Airlines President Scott Kirby. "Tokyo is a hub of 21st century global commerce and innovation and one of the world's most popular tourist destinations. Today's filing demonstrates United's unparalleled commitment to helping more Americans travel between our nation and Japan's capital city. Our proposed flights to Tokyo Haneda will offer an unrivaled experience and maximize choice and convenience for our customers traveling between the United States and Tokyo for the Olympic Games Tokyo 2020 and beyond."

United's proposed daily flights from Newark/New York, Los Angeles and Guam would supplement the airline's existing daily flights between those hubs and Tokyo's Narita International Airport (NRT), while United would shift existing daily nonstop Chicago, Washington D.C. and Houston flights from Tokyo Narita to Tokyo Haneda.

United's application will also support American businesses and help grow the U.S. economy by offering direct flights from key business, government and cultural hubs where demand for flights to Haneda, the closest airport to central Tokyo, is the highest. With these new flights in place, United would provide Haneda service from:

  • The largest market for travel demand between the U.S. mainland and Tokyo (Los Angeles);
  • The two largest markets for travel demand between the East Coast and Tokyo (Newark/New York and Washington, D.C.);
  • The two largest markets for travel demand between the central U.S. and Tokyo (Chicago and Houston); and
  • Guam, a market with significant travel demand from a Japanese tourist base that is critical to the island's tourism industry, economy and job market.

United's proposal would help realize the full potential of these new routes for U.S. consumers and businesses by expanding United's broad-based and end-to-end network between the United States and Japan. United's proposed flights to Haneda would allow U.S. consumers to make connections to 37 points in Japan via United's joint venture partner All Nippon Airways (ANA), strengthening United's existing comprehensive network when combined with nonstop or single-connection service from 112 U.S. airports.

United has proven its long-term commitment to Tokyo as a key gateway in Asia, serving Tokyo from 100 percent of its U.S. hubs. United also serves 31 markets in the Asia/Pacific region, more than any other U.S. carrier, and has successfully launched 11 new nonstop flights from the U.S. mainland to destinations throughout the Asia/Pacific region since 2014.

United's application is in response to the U.S. DOT instituting a competitive route proceeding to allocate slot pairs, with today's application filed under DOT proceeding # DOT-OST-2019-0014. For more information about United's bid, please visit UnitedToHaneda.com.

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 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

United Airlines to Present at Barclays Industrial Select Conference 2019

February 18, 2019

CHICAGO, Feb. 18, 2019 /PRNewswire/ -- United Airlines will present at Barclays Industrial Select Conference on Wednesday, February 20. United Airlines' Vice President of Pricing and Revenue Management Dave Bartels and Vice President of Finance and CFO of Commercial Jonathan Ireland will present at the conference beginning at 1:15 p.m. ET / 12:15 p.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.

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 4,800 flights a day to 353 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 770 mainline aircraft and the airline's United Express carriers operate 559 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".

SOURCE United Airlines

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

United Adds More Than 1,600 New Premium Seats to International, Domestic and Regional Aircraft; More Comfort for More Customers in the Skies

February 06, 2019

CHICAGO, Feb. 6, 2019 /PRNewswire/ -- United Airlines today announced the next step in its commitment to making more customers more comfortable by adding more than 1,600 United Polaris® business class and United First seats to nearly 250 international and domestic aircraft. Additionally, United will revolutionize the regional flying experience by introducing the two-cabin, 50-seat Bombardier CRJ 550 aircraft to its fleet, offering customers on key regional routes more legroom, storage and amenities than any other 50-seat regional aircraft operating today.

Click here to view an infographic on United's newly reconfigured aircraft

"In an era where many airlines are adding seats to their aircraft to crowd more passengers onto the plane, we're re-configuring more than 100 of our aircraft and doing exactly the opposite – for the benefit of our customers," said Andrew Nocella, United's executive vice president and chief commercial officer. "From adding more premium seats on aircraft that serve some of our most traveled routes, introducing a revolutionary, best-in-class 50-seat experience or simply offering free DIRECTV on more than 200 aircraft, we are committed to making United the airline that our customers choose to fly."

More United Polaris business seats on Boeing 767-300ER aircraft

In the next several weeks, United will introduce to its fleet the first of 21 reconfigured Boeing 767-300ER aircraft featuring 16 additional United Polaris business 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 newly reconfigured aircraft will also feature 22 United® Premium Plus seats (becoming the first 767-300ER to offer this seat type); 47 Economy Plus® seats and 52 Economy seats. United will first operate the reconfigured 767 – which will feature the highest proportion of premium seats on any widebody operated by any U.S. carrier – between Newark/New York and London, offering 50 percent more premium seats in the largest premium route in the world. The airline expects to introduce all the reconfigured aircraft to its fleet by the end of next year.

More United First seats on Airbus A319 and A320 aircraft

United is also adding more United First® seats to its fleet of Airbus aircraft, offering customers greater opportunities to upgrade and enjoy a premium flying experience. Beginning this fall, the carrier will add four United First seats on its fleet of Airbus A319s, increasing the total count from eight to 12. The reconfigured aircraft will also feature 36 Economy Plus and 78 Economy seats.

Beginning early next year, United will add four United First seats on its fleet of nearly 100 Airbus A320 aircraft, increasing the total count from 12 to 16. The reconfigured aircraft will also feature 39 Economy Plus seats and 95 Economy seats. United expects to complete the reconfiguration of the Airbus A320 and A319s by the middle of next year.

Introducing the first-of-its-kind Bombardier CRJ 550

By the end of this year, United will revolutionize the regional flying experience with the planned introduction of 50 spacious, 50-seat Bombardier CRJ 550 aircraft to its regional fleet, subject to government certification. In addition to becoming the only 50-seat aircraft in the world to offer true first-class seating, the innovative new aircraft will provide customers with a truly exceptional flying experience, including a state-of-the-art interior featuring LED lighting, a self-serve beverage and snack station for customers seated in the premium cabin, Wi-Fi and more overall legroom per seat than any other 50-seat aircraft flown by any U.S. carrier. Additionally, the CRJ 550 will feature four storage closets, providing customers ample room to store their carryon bags and making the CRJ 550 the only regional jet in the skies where customers will not need to routinely gate check their bags.

The two-cabin CRJ 550 will feature 10 United First seats; 20 Economy Plus seats and 20 Economy seats. The CRJ 550 aircraft will eventually replace existing single-cabin 50-seat aircraft and will bring a higher percentage of two-cabin departures to smaller cities across the carrier's network. Additionally, the innovative aircraft will enable United to offer premium seats on more connecting flights from smaller cities to the airline's overall global network, further strengthening its competitive position and emphasizing its role as an industry innovator.

United expects that its regional partner GoJet will begin operating the CRJ 550 in the second half of this year – subject to agreement on final terms and conditions – on select routes from Chicago, O'Hare followed by Newark/New York, offering customers connecting through the hub the opportunity to enjoy a premium cabin experience at every step of their journey.

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 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. The multimillion-dollar investment in improving inflight entertainment options will benefit the more than 29 million people expected to fly United's DIRECTV-enabled planes this year.

About United

United Airlines and United Express operate approximately 4,800 flights a day to 353 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, Newark/New York, San Francisco and Washington, D.C. United operates 770 mainline aircraft and the airline's United Express carriers operate 559 regional aircraft. The airline 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 or connect on Facebook. The common stock of United's parent, United Continental 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 Four New Domestic United Club Locations for 2019

February 04, 2019

CHICAGO, Feb. 4, 2019 /PRNewswire/ -- United Airlines today welcomed the newest addition to its network of more than 50 United Club locations around the world with the opening of a brand-new 5,000 square foot United Club at Fort Lauderdale-Hollywood International Airport. Located near Gate C1, this new United Club is the first of four new United Club locations set to open in 2019.

"United Clubs are the perfect spot for our customers to relax and recharge and we are excited to open the first of four new United Clubs this year," said United's Chief Customer Officer Toby Enqvist. "Our multimillion-dollar investment in the United Clubs is one of many ways we are working to improve every aspect of our customers' experience."

In addition to the Fort Lauderdale renovation, the airline is expanding its United Club network by introducing new locations in popular destinations. This summer, United plans to open a new United Club in New Orleans in conjunction with the opening of the new terminal at Louis Armstrong New Orleans International Airport. United will also open a brand-new United Club location in New York's La Guardia Airport to coincide with the relocation of its operations to the airport's Terminal B. Additionally, United will introduce its first-ever United Club location in Raleigh-Durham International Airport.

Designed with today's customers in mind, each United Club location is created to serve the distinct needs of customers traveling to and from that destination and feature complimentary high-speed Wi-Fi, wellness rooms and specially curated local food and beverage offerings. United Club members enjoy access to more than 50 United Club locations and participating Star Alliance partner lounges around the world.

About United

United Airlines and United Express operate approximately 4,800 flights a day to 353 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, Newark/New York, San Francisco and Washington, D.C. United operates 770 mainline aircraft and the airline's United Express carriers operate 559 regional aircraft. The airline 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 or connect on Facebook. The common stock of United's parent, United Continental 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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