United Taps Restivo for New Communications VP Role
Restivo, who will report to Chief Communications Officer Josh Earnest, will drive the development and implementation of proactive communication strategies to advance employee communications, media relations and the global response team and will continue to shape the airline's public image.
"Steve is a proven leader and brings a wealth of industry communications experience to United. He will play a leading role on the communications team as we create and capitalize on opportunities to engage our customers, inspire our employees and promote United's brand around the world," said Earnest.
"I'm proud to join the communications team behind one of the world's most iconic brands, especially at such an exciting time in the company's history," said Restivo. "As United Airlines continues to focus on setting itself apart from the competition by delivering a better customer experience, I look forward to sharing stories that reflect those priorities and resonate with employees and customers."
Most recently, Restivo led external communications in support of Comcast NBCUniversal's suite of residential and business products and services, including Xfinity Internet, Video, Home, Voice and Comcast Business. In addition, Restivo developed consumer, accessibility, influencer and technology campaigns and led brand strategy integrations with a wide variety of organizations, including the United States Olympic Committee, the Academy Awards and NASCAR. Restivo earned his communications degree from James Madison University in Virginia.
His first day at United will be Sept. 3, 2019.
About United
United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United Airlines and United Express operate approximately 4,900 flights a day to 356 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 783 mainline aircraft and the airline's United Express carriers operate 561 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 28 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".
SOURCE United Airlines
For further information: United Airlines Worldwide Media Relations, 872-825-8640, media.relations@united.com
CHICAGO, Oct. 15, 2019 /PRNewswire/ -- United Airlines (UAL) today announced that it has achieved third quarter diluted earnings per share (EPS) of $3.99 and adjusted diluted EPS2 of $4.07, and raised its full year 2019 adjusted diluted EPS1 guidance, with a new range of $11.25 to $12.25.
"Thanks to the outstanding efforts of our employees, United extended our streak of expanding pre-tax margin on a quarterly basis. It provides us further confidence to raise our full year 2019 adjusted diluted EPS guidance, putting us ahead of pace to achieve our goal of $11 to $13 in adjusted diluted EPS by the end of 2020," said Oscar Munoz, CEO of United Airlines. "While headwinds affected the sector as a whole this quarter, United's team once again demonstrated a robust ability to overcome adverse cost pressure, managing to continue growing our network while investing in winning our customers' loyalty through smart enhancements to the United experience."
- Reported third quarter net income of $1.0 billion, diluted earnings per share of $3.99, pre-tax earnings of $1.3 billion and pre-tax margin of 11.9 percent, expanding pre-tax margin 2.3 points versus the third quarter of 2018.
- Reported third quarter adjusted net income of $1.0 billion, adjusted diluted EPS of $4.07, adjusted pre-tax earnings of $1.4 billion and adjusted pre-tax margin of 12.1 percent, expanding adjusted pre-tax margin 2.5 points versus the third quarter of 2018.²
- Consolidated third quarter passenger revenue per available seat mile (PRASM) increased 1.7 percent year-over-year.
- Consolidated third quarter unit cost per available seat mile (CASM) decreased 0.9 percent year-over-year.
- Consolidated third quarter CASM, excluding special charges, third party business expenses, fuel and profit sharing, increased 2.1 percent year-over-year.
- Repurchased $363 million of its common shares in the third quarter of 2019 at an average purchase price of $88.22 per share.
- Raised $1.2 billion in Enhanced Equipment Trust Certificates at a record low blended interest rate of 2.8% in connection with the financing of certain aircraft.
1 Excludes special charges and the mark-to-market impact of financial instruments, the nature of which are not determined at this time, and imputed interest on certain finance leases. Accordingly, UAL is not providing earnings guidance on a GAAP basis. |
2 Excludes special charges, the mark-to-market impact of financial instruments and imputed interest on certain finance leases. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included in the tables accompanying this release. |
For more information on UAL's fourth quarter and full year 2019 guidance, please visit ir.united.com for the company's investor update.
Third Quarter 2019 Highlights
Customer Experience
- Announced MileagePlus award miles never expire, giving members a lifetime to use miles on flights, experiences, hotels and more.
- Announced partnership with CLEAR which includes a free or discounted CLEAR membership for U.S. based MileagePlus members.
- MileagePlus members between the ages of 18 to 22 receive a 10% discount on domestic flights when booked through the United mobile app by Dec. 31, 2019.
- Announced improvements to United PassPlus, the airline's prepaid program that offers discounts, fixed fares and amenities to both individual and corporate customers.
- Customers are now provided three inflight snack options on domestic flights regardless of departure time, including the Stroopwafel.
- Customers can now pre pay for bags as soon as their ticket is issued. Previously customers had to wait until check-in to pay for their bags.
- MileagePlus loyalty program was awarded Favorite Frequent-Flyer Program for the fourth time by Trazee Awards and the United Explorer Card from Chase was awarded Favorite Credit Card for the second consecutive year.
Operations
- Achieved No. 1 in on-time departures in all hubs where United faces large hub competitors: Denver, Chicago and Los Angeles.
- Completed introduction of ConnectionSaver to all of seven domestic hubs, saving over 35,000 connections in the quarter.
Employees
- Honored with being recognized by search site indeed.com as a "Top 50 Workplace" for 2019.
- Recognized for fourth consecutive year as a top-scoring company and best place to work for disability and inclusion with a perfect score of 100% on the 2019 Disability Equality Index.
- Expects to hire about 8,000 people by the end of 2019.
Network
- Announced 12 new and expanded international routes from Chicago, Denver, New York/Newark and San Francisco including Nice, France; Palermo, Italy; and Curacao.
- Announced nonstop service to Tokyo Haneda with routes from Chicago, Los Angeles, New York/Newark and Washington, D.C., beginning March 28, 2020.
- Resumed daily nonstop service between New York/Newark and Delhi and Mumbai on September 6.
Fleet
- Launched Boeing 767-300ER ultra-premium United Polaris business class configuration on all flights between New York/Newark and London-Heathrow starting Sept. 15, 2019.
- Took delivery of six used Airbus A319 aircraft and nine new Embraer E175 aircraft.
Community
- Launched Crowdrise fundraising campaign for those affected by Hurricane Dorian.
- Operated a Boeing 787-8 Dreamliner crewed exclusively by women to the largest airshow in the world, EAA AirVenture in Oshkosh, Wisconsin, to symbolize the airline's commitment to supporting women in aviation.
Investor Day
On March 5, 2020 United will host an investor event in New York. More details will be provided at a later date.
Earnings Call
UAL will hold a conference call to discuss its third-quarter 2019 financial results and its financial and operational outlook for fourth-quarter and full-year 2019 on Wednesday, October 16, 2019, at 9:30 a.m. Central time /10:30 a.m. Eastern time. A live, listen-only webcast of the conference call will be available at ir.united.com. The webcast will be available for replay within 24 hours of the conference call and then archived on the website for three months.
Every customer. Every flight. Every day.
In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, this year United:
- Announced that MileagePlus award miles will never expire
- Gave Economy customers a choice of complimentary snacks on domestic flights
- Made DIRECTV free for every customer on more than 200 aircraft
- Released a new version of the award-winning, most downloaded app in the airline industry
- Launched a new tool called ConnectionSaver, dedicated to improving the experience for customers with connecting flights
- Partnered with CLEAR on free or discounted memberships for MileagePlus members
- Announced PlusPoints, new upgrade benefits for MileagePlus Premier members
- And introduced products in its amenity kits made exclusively for the airline by luxury skincare line Sunday Riley
About United
United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United Airlines and United Express operate approximately 4,900 flights a day to 358 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline's United Express carriers operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as "expects," "will," "plans," "anticipates," "indicates," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: our ability to execute our strategic operating plan, including our growth, revenue-generating and cost-control initiatives; general economic conditions (including interest rates, foreign currency exchange rates, investment or credit market conditions, crude oil prices, costs of aircraft fuel and energy refining capacity in relevant markets); risks of doing business globally, including instability and political developments that may impact our operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; our capacity decisions and the capacity decisions of our competitors; competitive pressures on pricing and on demand; changes in aircraft fuel prices; disruptions in our supply of aircraft fuel; our ability to cost-effectively hedge against increases in the price of aircraft fuel, if we decide to do so; the effects of any technology failures or cybersecurity breaches; disruptions to services provided by third-party service providers; potential reputational or other impact from adverse events involving our aircraft or operations, the aircraft or operations of our regional carriers or our code share partners or the aircraft or operations of another airline; our ability to attract and retain customers; the effects of any terrorist attacks, international hostilities or other security events, or the fear of such events; the mandatory grounding of aircraft in our fleet; disruptions to our regional network; the impact of regulatory, investigative and legal proceedings and legal compliance risks; the success of our investments in other airlines, including in other parts of the world; industry consolidation or changes in airline alliances; the ability of other air carriers with whom we have alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; costs associated with any modification or termination of our aircraft orders; disruptions in the availability of aircraft, parts or support from our suppliers; our ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; labor costs; an outbreak of a disease that affects travel demand or travel behavior; the impact of any management changes; extended interruptions or disruptions in service at major airports where we operate; U.S. or foreign governmental legislation, regulation and other actions (including Open Skies agreements, environmental regulations and the United Kingdom's withdrawal from the European Union); the seasonality of the airline industry; weather conditions; the costs and availability of aviation and other insurance; the costs and availability of financing; our ability to maintain adequate liquidity; our ability to comply with the terms of our various financing arrangements; our ability to realize the full value of our intangible assets and long-lived assets; and other risks and uncertainties set forth under Part I, Item 1A., "Risk Factors," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, as well as other risks and uncertainties set forth from time to time in the reports we file with the U.S. Securities and Exchange Commission.
-tables attached-
On January 1, 2019, United Airlines Holdings, Inc. ("UAL") adopted Accounting Standards Update No. 2016-02, Leases ("Topic 842"). As such, certain previously reported 2018 figures are adjusted in this report on a basis consistent with Topic 842.
UNITED AIRLINES HOLDINGS, INC. | |||||||||||||||||||||||
STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED) | |||||||||||||||||||||||
Three Months Ended September 30, | % Increase/ | Nine Months Ended September 30, | % Increase/ | ||||||||||||||||||||
(In millions, except per share data) | 2019 | 2018 | (Decrease) | 2019 | 2018 | (Decrease) | |||||||||||||||||
Operating revenue: | |||||||||||||||||||||||
Passenger | $ | 10,481 | $ | 10,120 | 3.6 | $ | 29,692 | $ | 28,150 | 5.5 | |||||||||||||
Cargo | 282 | 296 | (4.7) | 863 | 903 | (4.4) | |||||||||||||||||
Other operating revenue | 617 | 587 | 5.1 | 1,816 | 1,759 | 3.2 | |||||||||||||||||
Total operating revenue | 11,380 | 11,003 | 3.4 | 32,371 | 30,812 | 5.1 | |||||||||||||||||
Operating expense: | |||||||||||||||||||||||
Salaries and related costs | 3,063 | 2,930 | 4.5 | 8,993 | 8,534 | 5.4 | |||||||||||||||||
Aircraft fuel | 2,296 | 2,572 | (10.7) | 6,704 | 6,927 | (3.2) | |||||||||||||||||
Regional capacity purchase | 721 | 676 | 6.7 | 2,124 | 1,999 | 6.3 | |||||||||||||||||
Landing fees and other rent | 645 | 618 | 4.4 | 1,893 | 1,822 | 3.9 | |||||||||||||||||
Depreciation and amortization | 575 | 545 | 5.5 | 1,682 | 1,607 | 4.7 | |||||||||||||||||
Aircraft maintenance materials and outside repairs | 490 | 455 | 7.7 | 1,319 | 1,333 | (1.1) | |||||||||||||||||
Distribution expenses | 432 | 427 | 1.2 | 1,234 | 1,162 | 6.2 | |||||||||||||||||
Aircraft rent | 67 | 109 | (38.5) | 221 | 355 | (37.7) | |||||||||||||||||
Special charges (B) | 27 | 17 | NM | 116 | 186 | NM | |||||||||||||||||
Other operating expenses | 1,591 | 1,467 | 8.5 | 4,645 | 4,293 | 8.2 | |||||||||||||||||
Total operating expense | 9,907 | 9,816 | 0.9 | 28,931 | 28,218 | 2.5 | |||||||||||||||||
Operating income | 1,473 | 1,187 | 24.1 | 3,440 | 2,594 | 32.6 | |||||||||||||||||
Operating margin | 12.9 | % | 10.8 | % | 2.1 | pts. | 10.6 | % | 8.4 | % | 2.2 | pts. | |||||||||||
Adjusted operating margin (Non-GAAP) (A) | 13.2 | % | 10.9 | % | 2.3 | pts. | 11.0 | % | 9.0 | % | 2.0 | pts. | |||||||||||
Nonoperating income (expense): | |||||||||||||||||||||||
Interest expense | (191) | (172) | 11.0 | (570) | (497) | 14.7 | |||||||||||||||||
Interest capitalized | 22 | 16 | 37.5 | 65 | 46 | 41.3 | |||||||||||||||||
Interest income | 36 | 28 | 28.6 | 103 | 70 | 47.1 | |||||||||||||||||
Miscellaneous, net (B) | 9 | (1) | NM | 32 | (118) | NM | |||||||||||||||||
Total nonoperating expense | (124) | (129) | (3.9) | (370) | (499) | (25.9) | |||||||||||||||||
Income before income taxes | 1,349 | 1,058 | 27.5 | 3,070 | 2,095 | 46.5 | |||||||||||||||||
Pre-tax margin | 11.9 | % | 9.6 | % | 2.3 | pts. | 9.5 | % | 6.8 | % | 2.7 | pts. | |||||||||||
Adjusted pre-tax margin (Non-GAAP) (A) | 12.1 | % | 9.6 | % | 2.5 | pts. | 9.8 | % | 7.6 | % | 2.2 | pts. | |||||||||||
Income tax expense (D) | 325 | 225 | 44.4 | 702 | 434 | 61.8 | |||||||||||||||||
Net income | $ | 1,024 | $ | 833 | 22.9 | $ | 2,368 | $ | 1,661 | 42.6 | |||||||||||||
Diluted earnings per share | $ | 3.99 | $ | 3.05 | 30.8 | $ | 9.04 | $ | 5.98 | 51.2 | |||||||||||||
Diluted weighted average shares | 256.4 | 273.6 | (6.3) | 262.0 | 278.0 | (5.8) | |||||||||||||||||
NM Not meaningful |
UNITED AIRLINES HOLDINGS, INC. | |||||||||||||||||||||||||||||
PASSENGER REVENUE INFORMATION AND STATISTICS | |||||||||||||||||||||||||||||
Passenger revenue information is as follows (in millions, except for percentage changes): | |||||||||||||||||||||||||||||
3Q 2019 Passenger Revenue | 3Q 2018 Passenger Revenue (a) | Reporting | 3Q 2018 Passenger Revenue | Passenger Revenue vs. 3Q 2018 | PRASM | Yield vs. | Available Seat Miles vs. 3Q 2018 | 3Q 2019 | 3Q 2019 | ||||||||||||||||||||
Domestic | $ | 6,554 | $ | 6,253 | $ | 56 | $ | 6,309 | 3.9% | 2.1% | 2.3% | 1.7% | 42,670 | 36,940 | |||||||||||||||
Atlantic | 1,963 | 1,933 | (38) | 1,895 | 3.6% | 0.8% | 1.0% | 2.8% | 15,219 | 13,216 | |||||||||||||||||||
Pacific | 1,121 | 1,163 | (30) | 1,133 | (1.1)% | (3.4)% | (4.0)% | 2.3% | 10,858 | 9,038 | |||||||||||||||||||
Latin America | 843 | 771 | 12 | 783 | 7.7% | 7.2% | 5.9% | 0.4% | 6,329 | 5,435 | |||||||||||||||||||
International | 3,927 | 3,867 | (56) | 3,811 | 3.0% | 0.9% | 0.5% | 2.2% | 32,406 | 27,689 | |||||||||||||||||||
Consolidated | $ | 10,481 | $ | 10,120 | $ | — | $ | 10,120 | 3.6% | 1.7% | 1.6% | 1.9% | 75,076 | 64,629 | |||||||||||||||
(a) As previously reported. |
(b) During the third quarter of 2019, United implemented a new revenue accounting software system which allowed it to more precisely determine the geographic regions associated with certain ancillary passenger revenue items. Prior to July 2019, those ancillary revenue items were determined using an allocation method that was based on revenue from passenger travel. While the total passenger revenue is not impacted, the geographic totals for each period are not comparable year-over-year due to the change. The third quarter 2018 passenger revenue presented in the table above, and utilized in the year-over-year comparisons displayed, was adjusted using the third quarter 2019 percentages. |
Select operating statistics are as follows: | |||||||||||||||||||||||
Three Months Ended September 30, | % Increase/ (Decrease) | Nine Months Ended September 30, | % Increase/ (Decrease) | ||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||
Passengers (thousands) | 43,091 | 42,886 | 0.5 | 122,137 | 118,439 | 3.1 | |||||||||||||||||
Revenue passenger miles (millions) | 64,629 | 63,393 | 1.9 | 180,727 | 173,187 | 4.4 | |||||||||||||||||
Available seat miles (millions) | 75,076 | 73,681 | 1.9 | 213,961 | 206,360 | 3.7 | |||||||||||||||||
Passenger load factor: | |||||||||||||||||||||||
Consolidated | 86.1 | % | 86.0 | % | 0.1 | pts. | 84.5 | % | 83.9 | % | 0.6 | pts. | |||||||||||
Domestic | 86.6 | % | 86.7 | % | (0.1) | pts. | 85.7 | % | 85.7 | % | — | pts. | |||||||||||
International | 85.4 | % | 85.2 | % | 0.2 | pts. | 82.9 | % | 81.6 | % | 1.3 | pts. | |||||||||||
Passenger revenue per available seat mile (cents) | 13.96 | 13.73 | 1.7 | 13.88 | 13.64 | 1.8 | |||||||||||||||||
Total revenue per available seat mile (cents) | 15.16 | 14.93 | 1.5 | 15.13 | 14.93 | 1.3 | |||||||||||||||||
Average yield per revenue passenger mile (cents) | 16.22 | 15.96 | 1.6 | 16.43 | 16.25 | 1.1 | |||||||||||||||||
Cargo ton miles | 804 | 851 | (5.5) | 2,440 | 2,523 | (3.3) | |||||||||||||||||
Aircraft in fleet at end of period | 1,348 | 1,306 | 3.2 | 1,348 | 1,306 | 3.2 | |||||||||||||||||
Average stage length (miles) | 1,473 | 1,454 | 1.3 | 1,464 | 1,453 | 0.8 | |||||||||||||||||
Average full-time equivalent employees | 90,591 | 89,022 | 1.8 | 90,071 | 87,112 | 3.4 | |||||||||||||||||
Average aircraft fuel price per gallon | $ | 2.02 | $ | 2.32 | (12.9) | $ | 2.08 | $ | 2.23 | (6.7) | |||||||||||||
Fuel gallons consumed (millions) | 1,134 | 1,111 | 2.1 | 3,221 | 3,101 | 3.9 | |||||||||||||||||
Note: See Part II, Item 6, Selected Financial Data, of UAL's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, for definitions of these statistics. |
UNITED AIRLINES HOLDINGS, INC. | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | |||||||
(In millions) | September 30, 2019 | December 31, 2018 | |||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 2,959 | $ | 1,694 | |||
Short-term investments | 2,167 | 2,256 | |||||
Receivables, less allowance for doubtful accounts | 1,617 | 1,426 | |||||
Aircraft fuel, spare parts and supplies, less obsolescence allowance | 1,065 | 985 | |||||
Prepaid expenses and other | 725 | 733 | |||||
Total current assets | 8,533 | 7,094 | |||||
Total operating property and equipment, net | 29,332 | 27,399 | |||||
Operating lease right-of-use assets | 4,937 | 5,262 | |||||
Other assets: | |||||||
Goodwill | 4,523 | 4,523 | |||||
Intangibles, less accumulated amortization | 3,114 | 3,159 | |||||
Restricted cash | 100 | 105 | |||||
Notes receivable, net | 529 | 516 | |||||
Investments in affiliates and other, net | 1,131 | 966 | |||||
Total other assets | 9,397 | 9,269 | |||||
Total assets | $ | 52,199 | $ | 49,024 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
Current liabilities: | |||||||
Advance ticket sales | $ | 5,515 | $ | 4,381 | |||
Accounts payable | 2,848 | 2,363 | |||||
Frequent flyer deferred revenue | 2,537 | 2,286 | |||||
Accrued salaries and benefits | 2,104 | 2,184 | |||||
Current maturities of long-term debt | 1,243 | 1,230 | |||||
Current maturities of finance leases | 92 | 123 | |||||
Current maturities of operating leases | 778 | 719 | |||||
Other | 574 | 553 | |||||
Total current liabilities | 15,691 | 13,839 | |||||
Other long-term liabilities and deferred credits: | |||||||
Long-term debt | 12,900 | 12,215 | |||||
Long-term obligations under finance leases | 186 | 224 | |||||
Long-term obligations under operating leases | 4,941 | 5,276 | |||||
Frequent flyer deferred revenue | 2,682 | 2,719 | |||||
Postretirement benefit liability | 836 | 1,295 | |||||
Pension liability | 1,087 | 1,576 | |||||
Deferred income taxes | 1,594 | 828 | |||||
Other | 981 | 1,010 | |||||
Total other long-term liabilities and deferred credits | 25,207 | 25,143 | |||||
Stockholders' equity | 11,301 | 10,042 | |||||
Total liabilities and stockholders' equity | $ | 52,199 | $ | 49,024 | |||
UNITED AIRLINES HOLDINGS, INC. | |||||||
CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) | |||||||
(In millions) | Nine Months Ended September 30, | ||||||
2019 | 2018 | ||||||
Cash Flows from Operating Activities: | |||||||
Net cash provided by operating activities | $ | 5,728 | $ | 5,035 | |||
Cash Flows from Investing Activities: | |||||||
Capital expenditures | (3,336) | (2,496) | |||||
Purchases of short-term and other investments | (2,168) | (1,975) | |||||
Proceeds from sale of short-term and other investments | 2,282 | 1,979 | |||||
Investment in affiliates | (36) | (139) | |||||
Proceeds from sale of property and equipment | 47 | 30 | |||||
Loans made to others | (10) | (10) | |||||
Other, net | (10) | 104 | |||||
Net cash used in investing activities | (3,231) | (2,507) | |||||
Cash Flows from Financing Activities: | |||||||
Proceeds from issuance of long-term debt | 1,109 | 1,241 | |||||
Payments of long-term debt | (726) | (1,519) | |||||
Repurchases of common stock | (1,431) | (1,010) | |||||
Principal payments under finance leases | (105) | (57) | |||||
Capitalized financing costs | (51) | (31) | |||||
Other, net | (29) | (17) | |||||
Net cash used in financing activities | (1,233) | (1,393) | |||||
Net increase in cash, cash equivalents and restricted cash | 1,264 | 1,135 | |||||
Cash, cash equivalents and restricted cash at beginning of the period | 1,799 | 1,591 | |||||
Cash, cash equivalents and restricted cash at end of the period | $ | 3,063 | $ | 2,726 | |||
Investing and Financing Activities Not Affecting Cash: | |||||||
Property and equipment acquired through the issuance of debt | $ | 306 | $ | 125 | |||
Operating lease conversions to finance lease | 36 | 52 | |||||
Right-of-use assets acquired through operating leases | 344 | 537 | |||||
Property and equipment acquired through finance leases | 8 | — | |||||
UNITED AIRLINES HOLDINGS, INC. | |||
RETURN ON INVESTED CAPITAL (ROIC)—Non-GAAP | |||
ROIC is a non-GAAP financial measure that UAL believes provides useful supplemental information for management and investors by measuring the effectiveness of the company's operations' use of invested capital to generate profits. | |||
(in millions) | Twelve Months Ended September 30, 2019 | ||
Net Operating Profit After Tax ("NOPAT") | |||
Pre-tax income | $ | 3,623 | |
Adjustments: | |||
Special charges and mark-to-market ("MTM") gains on financial instruments: | |||
Impairment of assets | 301 | ||
Termination of a maintenance service agreement | 64 | ||
Severance and benefit costs | 21 | ||
MTM gains on financial instruments | (128) | ||
(Gains) losses on sale of assets and other special charges | 31 | ||
Pre-tax income excluding special charges and MTM gains on financial instruments (Non-GAAP) | 3,912 | ||
add: Interest expense (net of income tax benefit) (a) | 739 | ||
add: Interest component of capitalized aircraft rent (net of income tax benefit) (a) | 163 | ||
add: Net interest on pension (net of income tax benefit) (a) | (14) | ||
less: Income taxes paid | (22) | ||
NOPAT (Non-GAAP) | $ | 4,778 | |
Average Invested Capital (five-quarter average) | |||
Total assets | $ | 50,642 | |
less: Non-interest bearing liabilities (b) | (17,823) | ||
Average invested capital (Non-GAAP) | $ | 32,819 | |
ROIC (Non-GAAP) | 14.6 | % | |
(a) | Income tax benefit measured based on the effective cash tax rate. The effective cash tax rate is calculated by dividing cash taxes paid by pre-tax income excluding special charges and MTM gains on financial instruments. For the twelve months ended September 30, 2019, the effective cash tax rate was 0.6%. |
(b) | Non-interest bearing liabilities include advance ticket sales, frequent flyer deferred revenue, deferred income taxes and other non-interest bearing liabilities. |
UNITED AIRLINES HOLDINGS, INC. | |||||||||||||||||
NON-GAAP FINANCIAL RECONCILIATION | |||||||||||||||||
(A) UAL evaluates its financial performance utilizing various accounting principles generally accepted in the United States of America (GAAP) and Non-GAAP financial measures, including adjusted operating income (loss), adjusted operating margin, adjusted pre-tax income (loss), adjusted pre-tax margin, adjusted net income (loss), adjusted diluted earnings (loss) per share and CASM, excluding special charges, third-party business expenses, fuel, and profit sharing, among others. UAL believes that adjusting for special charges is useful to investors because special charges are not indicative of UAL's ongoing performance. UAL believes that adjusting for MTM gains and losses on financial instruments is useful to investors because those unrealized gains or losses may not ultimately be realized on a cash basis. UAL believes that adjusting for interest expense related to finance leases of Embraer ERJ 145 aircraft is useful to investors because of the accelerated recognition of interest expense. | |||||||||||||||||
CASM is a common metric used in the airline industry to measure an airline's cost structure and efficiency. UAL reports CASM excluding special charges, third-party business expenses, fuel and profit sharing. UAL believes that adjusting for special charges is useful to investors because special charges are not indicative of UAL's ongoing performance. UAL also believes that excluding third-party business expenses, such as maintenance, ground handling and catering services for third parties and fuel sales, provides more meaningful disclosure because these expenses are not directly related to UAL's core business. UAL also believes that excluding fuel costs from certain measures is useful to investors because it provides an additional measure of management's performance excluding the effects of a significant cost item over which management has limited influence. UAL excludes profit sharing because this exclusion allows investors to better understand and analyze our operating cost performance and provides a more meaningful comparison of our core operating costs to the airline industry. | |||||||||||||||||
Reconciliations of reported non-GAAP financial measures to the most directly comparable GAAP financial measures are included below. | |||||||||||||||||
Three Months Ended September 30, | % Increase/ | Nine Months Ended September 30, | % Increase/ | ||||||||||||||
2019 | 2018 | (Decrease) | 2019 | 2018 | (Decrease) | ||||||||||||
CASM (cents) | |||||||||||||||||
Cost per available seat mile (CASM) (GAAP) | 13.20 | 13.32 | (0.9) | 13.52 | 13.67 | (1.1) | |||||||||||
Special charges (B) | 0.04 | 0.02 | NM | 0.05 | 0.09 | NM | |||||||||||
Third-party business expenses | 0.07 | 0.04 | 75.0 | 0.06 | 0.04 | 50.0 | |||||||||||
Fuel expense | 3.05 | 3.49 | (12.6) | 3.13 | 3.36 | (6.8) | |||||||||||
Profit sharing, including taxes | 0.24 | 0.17 | 41.2 | 0.17 | 0.12 | 41.7 | |||||||||||
CASM, excluding special charges, third-party business expenses, fuel, and profit sharing (Non-GAAP) | 9.80 | 9.60 | 2.1 | 10.11 | 10.06 | 0.5 | |||||||||||
NM Not Meaningful |
UNITED AIRLINES HOLDINGS, INC. | |||||||||||||||||||||||||||||
NON-GAAP FINANCIAL RECONCILIATION (Continued) | |||||||||||||||||||||||||||||
Three Months Ended September 30, | $ Increase/ | % Increase/ | Nine Months Ended September 30, | $ Increase/ | % Increase/ | ||||||||||||||||||||||||
(in millions) | 2019 | 2018 | (Decrease) | (Decrease) | 2019 | 2018 | (Decrease) | (Decrease) | |||||||||||||||||||||
Operating expenses (GAAP) | $ | 9,907 | $ | 9,816 | $ | 91 | 0.9 | $ | 28,931 | $ | 28,218 | $ | 713 | 2.5 | |||||||||||||||
Special charges (B) | 27 | 17 | 10 | NM | 116 | 186 | (70) | NM | |||||||||||||||||||||
Operating expenses, excluding special charges | 9,880 | 9,799 | 81 | 0.8 | 28,815 | 28,032 | 783 | 2.8 | |||||||||||||||||||||
Adjusted to exclude: | |||||||||||||||||||||||||||||
Third-party business expenses | 49 | 29 | 20 | 69.0 | 120 | 89 | 31 | 34.8 | |||||||||||||||||||||
Fuel expense | 2,296 | 2,572 | (276) | (10.7) | 6,704 | 6,927 | (223) | (3.2) | |||||||||||||||||||||
Profit sharing, including taxes | 174 | 127 | 47 | 37.0 | 368 | 252 | 116 | 46.0 | |||||||||||||||||||||
Adjusted operating expenses (Non-GAAP) | $ | 7,361 | $ | 7,071 | $ | 290 | 4.1 | $ | 21,623 | $ | 20,764 | $ | 859 | 4.1 | |||||||||||||||
Operating income (GAAP) | $ | 1,473 | $ | 1,187 | $ | 286 | 24.1 | $ | 3,440 | $ | 2,594 | $ | 846 | 32.6 | |||||||||||||||
Adjusted to exclude: | |||||||||||||||||||||||||||||
Special charges (B) | 27 | 17 | 10 | NM | 116 | 186 | (70) | NM | |||||||||||||||||||||
Adjusted operating income (Non-GAAP) | $ | 1,500 | $ | 1,204 | $ | 296 | 24.6 | $ | 3,556 | $ | 2,780 | $ | 776 | 27.9 | |||||||||||||||
Pre-tax income (GAAP) | $ | 1,349 | $ | 1,058 | $ | 291 | 27.5 | $ | 3,070 | $ | 2,095 | $ | 975 | 46.5 | |||||||||||||||
Adjusted to exclude: | |||||||||||||||||||||||||||||
Special charges (B) | 27 | 17 | 10 | NM | 116 | 186 | (70) | NM | |||||||||||||||||||||
MTM (gains) losses on financial instruments (B) | (21) | (29) | 8 | NM | (72) | 61 | (133) | NM | |||||||||||||||||||||
Interest expense on ERJ 145 finance leases (C) | 22 | 13 | 9 | NM | 68 | 13 | 55 | NM | |||||||||||||||||||||
Adjusted pre-tax income (Non-GAAP) | $ | 1,377 | $ | 1,059 | $ | 318 | 30.0 | $ | 3,182 | $ | 2,355 | $ | 827 | 35.1 | |||||||||||||||
Net income (GAAP) | $ | 1,024 | $ | 833 | $ | 191 | 22.9 | $ | 2,368 | $ | 1,661 | $ | 707.0 | 42.6 | |||||||||||||||
Adjusted to exclude: | |||||||||||||||||||||||||||||
Special charges (B) | 27 | 17 | 10 | NM | 116 | 186 | (70) | NM | |||||||||||||||||||||
MTM (gains) losses on financial instruments (B) | (21) | (29) | 8 | NM | (72) | 61 | (133) | NM | |||||||||||||||||||||
Interest expense on ERJ 145 finance leases (C) | 22 | 13 | 9 | NM | 68 | 13 | 55 | NM | |||||||||||||||||||||
Income tax expense (benefit) related to adjustments above | (6) | — | (6) | NM | (25) | (58) | 33 | NM | |||||||||||||||||||||
Adjusted net income (Non-GAAP) | $ | 1,046 | $ | 834 | $ | 212 | 25.4 | $ | 2,455 | $ | 1,863 | $ | 592 | 31.8 | |||||||||||||||
Diluted earnings per share (GAAP) | $ | 3.99 | $ | 3.05 | $ | 0.94 | 30.8 | $ | 9.04 | $ | 5.98 | $ | 3.06 | 51.2 | |||||||||||||||
Adjusted to exclude: | |||||||||||||||||||||||||||||
Special charges (B) | 0.10 | 0.06 | 0.04 | NM | 0.44 | 0.67 | (0.23) | NM | |||||||||||||||||||||
MTM (gains) losses on financial instruments (B) | (0.08) | (0.11) | 0.03 | NM | (0.27) | 0.22 | (0.49) | NM | |||||||||||||||||||||
Interest expense on ERJ 145 finance leases (C) | 0.08 | 0.05 | 0.03 | NM | 0.26 | 0.05 | 0.21 | NM | |||||||||||||||||||||
Income tax benefit related to adjustments | (0.02) | — | (0.02) | NM | (0.10) | (0.22) | 0.12 | NM | |||||||||||||||||||||
Adjusted diluted earnings per share (Non-GAAP) | $ | 4.07 | $ | 3.05 | $ | 1.02 | 33.4 | $ | 9.37 | $ | 6.70 | $ | 2.67 | 39.9 | |||||||||||||||
NM Not Meaningful |
UNITED AIRLINES HOLDINGS, INC. | |||||||||||||||
NON-GAAP FINANCIAL RECONCILIATION (Continued) | |||||||||||||||
UAL believes that adjusting capital expenditures for assets acquired through the issuance of debt and finance leases is useful to investors in order to appropriately reflect the total amounts spent on capital expenditures. UAL also believes that adjusting net cash provided by operating activities for capital expenditures and adjusted capital expenditures is useful to allow investors to evaluate the company's ability to generate cash that is available for debt service or general corporate initiatives. | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
Capital Expenditures (in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Capital expenditures (GAAP) | $ | 869 | $ | 825 | $ | 3,336 | $ | 2,496 | |||||||
Property and equipment acquired through the issuance of debt | 86 | — | 306 | 125 | |||||||||||
Property and equipment acquired through finance leases | — | — | 8 | — | |||||||||||
Adjusted capital expenditures (Non-GAAP) | $ | 955 | $ | 825 | $ | 3,650 | $ | 2,621 | |||||||
Free Cash Flow (in millions) | |||||||||||||||
Net cash provided by operating activities (GAAP) | $ | 1,103 | $ | 883 | $ | 5,728 | $ | 5,035 | |||||||
Less capital expenditures | 869 | 825 | 3,336 | 2,496 | |||||||||||
Free cash flow, net of financings (Non-GAAP) | $ | 234 | $ | 58 | $ | 2,392 | $ | 2,539 | |||||||
Net cash provided by operating activities (GAAP) | $ | 1,103 | $ | 883 | $ | 5,728 | $ | 5,035 | |||||||
Less adjusted capital expenditures (Non-GAAP) | 955 | 825 | 3,650 | 2,621 | |||||||||||
Free cash flow (Non-GAAP) | $ | 148 | $ | 58 | $ | 2,078 | $ | 2,414 | |||||||
UNITED AIRLINES HOLDINGS, INC. | |||||||||||||||
NOTES (UNAUDITED) | |||||||||||||||
(B) Special charges and MTM gains and losses on financial instruments include the following: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Operating: | |||||||||||||||
Severance and benefit costs | $ | 2 | $ | 9 | $ | 14 | $ | 34 | |||||||
Impairment of assets | — | 11 | 69 | 145 | |||||||||||
(Gains) losses on sale of assets and other special charges | 25 | (3) | 33 | 7 | |||||||||||
Total special charges | 27 | 17 | 116 | 186 | |||||||||||
Nonoperating MTM (gains) losses on financial instruments | (21) | (29) | (72) | 61 | |||||||||||
Total special charges and MTM (gains) losses on financial instruments | 6 | (12) | 44 | 247 | |||||||||||
Income tax expense (benefit) related to special charges and MTM (gains) losses on financial instruments | (2) | 3 | (10) | (55) | |||||||||||
Total special charges and MTM (gains) losses on financial instruments, net of income taxes | $ | 4 | $ | (9) | $ | 34 | $ | 192 | |||||||
Severance and benefit costs: During the three and nine months ended September 30, 2019, the company recorded $2 million and $12 million, respectively, of management severance. During the nine months ended September 30, 2019, the company recorded $2 million of severance and benefit costs related to a voluntary early-out program for its technicians and related employees represented by the International Brotherhood of Teamsters. In the first quarter of 2017, approximately 1,000 technicians and related employees elected to voluntarily separate from the company and received a severance payment, with a maximum value of $100,000 per participant, based on years of service, with retirement dates through early 2019. |
During the three and nine months ended September 30, 2018, the company recorded $5 million and $19 million, respectively, of severance and benefit costs related to the voluntary early-out program for its technicians and related employees, and $4 million and $15 million, respectively, of management severance. |
Impairment of assets: During the nine months ended September 30, 2019, the company recorded a $47 million impairment for aircraft engines removed from operations, an $8 million fair value adjustment for aircraft purchased off lease, a $6 million charge for the early termination of several regional aircraft finance leases and $8 million in other miscellaneous impairments. |
In May 2018, the Brazil–United States open skies agreement was ratified, which provides air carriers with unrestricted access between the United States and Brazil. The company determined that the approval of the open skies agreement impaired the entire value of its Brazil route authorities because the agreement removed all limitations or reciprocity requirements for flights between the United States and Brazil. Accordingly, the company recorded a $105 million special charge to write off the entire value of the intangible asset associated with its Brazil routes. For the three and nine months ended September 30, 2018, the company also recorded $11 million and $40 million, respectively, of fair value adjustments related to aircraft purchased off lease, write-off of unexercised aircraft purchase options and other impairments related to certain fleet types and international slots no longer in use. |
(Gains) losses on sale of assets and other special charges. During the three months ended September 30, 2019, the company recorded charges of $18 million for the settlement of certain legal matters and $15 million related to a contract termination, as well as an $8 million gain primarily related to the sale and disposition of certain assets. During the nine months ended September 30, 2019, the company recorded $8 million of losses on the sale of assets. |
During the three and nine months ended September 30, 2018, the company recorded $3 million of gains primarily related to the sale of aircraft engines and $7 million of losses primarily related to contract termination of regional aircraft operations in Guam, respectively. |
MTM gains and losses on financial instruments: During the three and nine months ended September 30, 2019, the company recorded gains of $25 million and $77 million, respectively, for the change in market value of certain of its equity investments, primarily Azul Linhas Aéreas Brasileiras S.A.. Also, during the three and nine months ended September 30, 2019, the company recorded losses of $4 million and $5 million, respectively, for the change in fair value of certain derivative assets related to equity of Avianca Holdings S.A. For equity investments and derivative assets subject to MTM accounting, the company records gains and losses as part of Nonoperating income (expense): Miscellaneous, net in its statements of consolidated operations. |
During the three and nine months ended September 30, 2018, the company recorded gains of $29 million and losses of $61 million, respectively, for the change in market value of certain of its equity investments. |
(C) Interest expense related to finance leases of Embraer ERJ 145 aircraft |
During the third quarter of 2018, United entered into an agreement with the lessor of 54 Embraer ERJ 145 aircraft to purchase those aircraft in 2019. The provisions of the new lease agreement resulted in a change in accounting classification of these new leases from operating leases to finance leases up until the purchase date. As a result of this change, the company recognized $22 million and $68 million, respectively, of additional interest expense in the three and nine months ended September 30, 2019, and $13 million of additional interest expense in the third quarter of 2018. |
(D) Effective tax rate |
The company's effective tax rate for the three and nine months ended September 30, 2019 was 24.1% and 22.9%, respectively. The effective tax rate for the three and nine months ended September 30, 2018 was 21.3% and 20.7%, respectively. The effective tax rate represents a blend of federal, state and foreign taxes and includes the impact of certain nondeductible items and the impact of a change in the company's mix of domestic and foreign earnings. |
SOURCE United Airlines
For further information: United Airlines Worldwide Media Relations, +1-872-825-8640, media.relations@united.com
SAN FRANCISCO, Oct. 13, 2019 /PRNewswire/ -- United has officially welcomed a one-of-a-kind, California-themed aircraft livery to its fleet – a Boeing 757 created by a San Francisco resident as part of the airline's national Her Art Here competition. Designed by artist Tsungwei Moo, the eye-catching plane is a tribute to the Golden State where United operates two major hubs – one in Los Angeles and the other in San Francisco – and features quintessential California imagery including sunglasses, palm trees and the Golden Gate Bridge.
Launched in February, United's Her Art Here contest gave female artists like Tsungwei the chance to use an airplane as their canvas, inspiring women around the world who may be interested in careers in the arts. A labor of passion, Tsungwei's creation was also shaped by her personal journey. The talented artist grew up in Taipei, Taiwan before emigrating to San Francisco 14 years ago aboard a United Airlines flight.
"It's truly a dream come true. The vibrant colors, sunshine and subject matter make it California. I could never imagine one day my art will be displayed on a United Airlines plane which brought me to the United States. There are no culture borders in art and it doesn't matter my status is an emigrant female artist. This plane has its mission now, to bring more joy into people's life, connecting people and uniting the world through experience art," noted Ms. Moo
Before taking to the skies, United's Her Art Here California plane spent time in Amarillo, Texas where it took 17 days for painters to transform the Boeing 757 into Tsungwei's winning design.
For video of the painting process and still images of the aircraft please visit https://app.box.com/s/nz0s3v3u1dwm5dkrhxahppwq6ni6va2r
Her Art Here Contest
Her Art Here is the first-of-its-kind contest designed to find and uplift underrepresented women artists by providing a chance to have their work painted on a canvas like no other – a United Airlines aircraft. According to the National Museum of Women in the Arts, while 51 percent of today's artists are women less than 13 percent of art on display in U.S. museums is by female artists. Having their designs painted on 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.
The Her Art Here contest was open to those who identify as a woman, including cisgender, transgender, woman-aligned or non-binary, and reside in the United States, and asked artists to 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. Entries were scored by a panel of judges based on contest criteria and winners were determined based on a combination of judging scores and public voting.
Every customer. Every flight. Every day.
In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's announcement, this year United:
- Announced that MileagePlus award miles will never expire
- Gave Economy customers a choice of complimentary snacks on domestic flights
- Made DIRECTV free for every customer on more than 200 aircraft
- Released a new version of the award-winning, most downloaded app in the airline industry
- Launched a new tool called ConnectionSaver, dedicated to improving the experience for customers with connecting flights
- Partnered with CLEAR on free or discounted memberships for MileagePlus members
- Announced PlusPoints, new upgrade benefits for MileagePlus Premier members
- And introduced products in its amenity kits made exclusively for the airline by luxury skincare line Sunday Riley
About United
United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 358 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline's United Express partners operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".
SOURCE United Airlines
For further information: United Airlines, Worldwide Media Relations, 872.825.8640, media.relations@united.com
CHICAGO, Oct. 10, 2019 /PRNewswire/ -- United Airlines today announced tickets for its newest regional fleet member, the Bombardier CRJ-550, will be available for purchase starting Saturday, October 12 for travel beginning Sunday, October 27. The initial schedule includes 15 cities from Chicago O'Hare.
The CRJ-550 is the world's only 50-seat regional aircraft to offer true first-class seating and other premium amenities, including:
- Space for every customer to bring a roller bag on board.
- A self-serve refreshment center for United First customers featuring a wide assortment of snacks and beverages.
- More overall legroom per seat than any other 50-seat aircraft flown by a U.S. airline.
- The ability to stay connected while in flight with United Wi-Fi.
Initially, the CRJ 550 will fly between Chicago O'Hare and:
- Allentown, Pennsylvania (ABE)
- Bentonville, Arkansas (XNA).
- Cedar Rapids, Iowa (CID)
- Cincinnati (CVG)
- Columbus, Ohio (CMH)
- Des Moines, Iowa (DSM)
- Grand Rapids, Michigan (GRR)
- Greensboro, North Carolina (GSO)
- Harrisburg, Pennsylvania (MDT)
- Indianapolis, Indiana (IND),
- Madison, Wisconsin (MSN)
- Oklahoma City (OKC)
- Richmond, Virginia (RIC)
- St. Louis, Missouri (STL)
- Tulsa, Oklahoma (TUL)
Additional cities will be added over the coming weeks from United hubs in Chicago, New York/Newark and Washington Dulles.
Every customer. Every flight. Every day.
In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers' best interests at the heart of its service. In addition to today's news, United recently announced that MileagePlus miles will now never expire, giving members a lifetime to use miles on flights and experiences. Customers now have more free on board snack options as well, with a choice of Lotus Biscoff cookies, pretzels and the Stroopwafel. The airline also recently released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver – a tool dedicated to improving the experience for customers connecting from one United flight to the next – and launched PlusPoints, a new upgrade benefit for MileagePlus premier members.
About United
United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 356 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline's United Express partners operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 193 countries via 27 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook. The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".
SOURCE United Airlines
For further information: United Airlines Worldwide Media Relations, 872.825.8640, media.relations@united.com