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United Airlines Holdings, Inc. (UAL)

SEC filings, insider trading & institutional ownership from EDGAR.

NasdaqIndustrialsAir Freight & Logistics

United Airlines Holdings, Inc. (UAL) is a holding company whose principal operating subsidiary is United Airlines, Inc., providing scheduled passenger and cargo air transportation across six continents, connecting people in North America to destinations in Asia, Europe, Africa, the Pacific, the Middle East and Latin America. The company operates a hub-and-spoke network anchored by U.S. mainland hubs in Chicago (ORD), Denver (DEN), Houston (IAH), Los Angeles (LAX), New York/Newark (EWR), San Francisco (SFO) and Washington, D.C. (IAD), plus a hub in Guam (GUM), and holds the most comprehensive route network among North American carriers. Its "United Next" fleet renewal strategy involves ordering and retrofitting over 700 new narrow-body and widebody aircraft (including Boeing 787-9s and Airbus A321neos) by 2033 to increase seating capacity, enhance premium offerings (United Polaris and Premium Plus cabins), improve fuel efficiency, and reduce per-seat carbon emissions.

Regional service, branded United Express and comprising about 6% of total capacity, is provided through capacity purchase agreements with regional carriers including CommuteAir, GoJet, Mesa, Republic and SkyWest, feeding traffic into United's hubs and smaller markets. United is a founding member of Star Alliance, the world's largest airline alliance, and maintains additional bilateral alliances and four passenger joint business arrangements (with Air Canada/Lufthansa Group, ANA, Air New Zealand, and Air Canada for transborder routes) as well as cargo joint ventures with ANA and Lufthansa, enabling expanded international network reach, codesharing, and reciprocal frequent flyer benefits. The company's MileagePlus loyalty program, supported by a co-branded credit card partnership with JPMorgan Chase, drives customer retention through mileage earning and redemption for flights, upgrades, merchandise, and other awards, with millions of award redemptions annually.

United also generates revenue from air cargo services for commercial shippers, freight forwarders, logistics firms and postal customers, as well as third-party business lines such as aircraft maintenance, ground handling, and flight training academy services. Its customer base includes leisure and business travelers, corporate accounts, and cargo shippers, distributed through direct channels (its website and mobile app), traditional and online travel agencies, and global distribution systems. The company competes domestically and internationally with other airlines and alternative transportation modes, with pricing and route decisions shaped by regulatory frameworks, bilateral aviation agreements, and competitive dynamics including low-cost carriers and foreign airlines.

United also emphasizes environmental, social and governance initiatives, including a commitment to net-zero greenhouse gas emissions by 2050 without reliance on carbon offsets, adoption of sustainable aviation fuel, fleet modernization for fuel efficiency, and safety culture programs under its Safety Management System.

AI-summarized from Item 1 (Business) of the company's most recent 10-K filing.

RevenueFY2025
$59.07B
▲ 3.5%YoY
Net incomeFY2025
$3.35B
▲ 6.5%YoY
Diluted EPSFY2025
$10.20
▲ 7.9%YoY
Insider net6 mo
−104.7K
shares12 sells0 buys
Institutions
47
$29.72B held

Financials

As reported to the SEC via XBRL, no adjustments

All financials →
Revenue & net income
$20B$40B$60B
FY2022FY2023FY2024FY2025
RevenueNet income
FY2025 highlightsfrom 10-K
Operating income$4.71B
Diluted EPS$10.20
Net margin5.7%

Revenue by region

FY2025 geographic segments • from the 10-K

$59BTOTAL FY2025
Americas$40.55B68.6%▲ 2.6%
Europe$11.65B19.7%▲ 5.0%
Asia Pacific$6.88B11.6%▲ 6.4%
31.4% of FY2025 disclosed regional revenue earned outside Americas • YoY vs FY2024

Latest filings

10-K, 10-Q, 8-K, Form 4 & 13D/G. Sourced directly from SEC EDGAR

All filings →
FormFiled
4Nocella Andrew PAug 27, 2026
4SHAPIRO EDWARDAug 21, 2026
4Leskinen Michael D.Aug 5, 2026
4Nocella Andrew PAug 5, 2026
4Enqvist Torbjorn JJul 29, 2026
4Nocella Andrew PJul 29, 2026

Insider trading

From Form 4 filings

All →
InsiderDateType
Nocella Andrew PAug 25, 2026Sell
SHAPIRO EDWARDAug 19, 2026Gift
Nocella Andrew PAug 4, 2026Sell
Leskinen Michael D.Aug 3, 2026Sell
Gebo KateJul 28, 2026Gift

Top holders

13F & 13D/G • latest quarter

All →
HolderStakeFiledValue
BlackRock, Inc.7.1%Aug 7, 2026$3.12B
Vanguard Capital Management6.5%Aug 13, 2026$2.86B
FMR LLC6.0%Aug 13, 2026$2.65B
PRIMECAP MANAGEMENT CO/CA/5.1%Aug 14, 2026$2.24B
Vanguard Portfolio Management4.4%Aug 13, 2026$1.93B

Executive pay and the vote

From the FY2025 proxy statement (DEF 14A), filed Apr 7, 2026, and the annual meeting’s vote on May 19, 2026

Full governance view →
CEO total pay
$32.3M
Scott Kirby • FY2025
Actually paid
$45.6M
SEC “compensation actually paid”
Say-on-pay
94.3%
of votes cast • 8-K filed May 22, 2026
TSR on $100
$258.54
peers $87.62 • since FY2021
What the company says drives pay
Absolute Adjusted EPSRelative Adjusted Pre-Tax MarginLiquidity hurdleAdjusted EBITDAR Margin

Figures come from the company’s proxy statement, and the vote count from its 8-K.

The full pay and vote breakdown is free with an account

The Summary Compensation Table for every named officer, the board with tenure and committees, and each proposal with its count, verified against the filings.

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AI summary

Latest 10-Q takeaways

filed Jul 16, 2026

United reports strong revenue growth (+16% in Q2) and improved liquidity and credit ratings, but a sharp fuel price spike tied to Middle East conflicts compressed operating income by 17% in the quarter. The tone is factual and backward-looking, with a cautiously positive long-term outlook offset by substantial discussion of fuel volatility, leverage, and regulatory and geopolitical risks. Automated screens found no red flags in this filing.

Written by Scrutar's AI from UAL's SEC filings. Check anything you rely on against the filing. Not investment advice.

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Data as of Oct 16, 2026Source: SEC EDGAR.