United Airlines 10-Q18 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 11, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-06033
Entity Registrant Name	United Airlines Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2675207
Entity Address, Address Line One	233 South Wacker Drive,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	(872)
Local Phone Number	825-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		328,833,907
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000100517
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	UAL
Security Exchange Name	NASDAQ
Preferred Stock Purchase Rights
Entity Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ
United Airlines, Inc.
Entity Information [Line Items]
Entity File Number	001-10323
Entity Registrant Name	United Airlines, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2099724
Entity Address, Address Line One	233 South Wacker Drive,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	(872)
Local Phone Number	825-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,000
Entity Central Index Key	0000319687

STATEMENTS OF CONSOLIDATED OPER

STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED) (UAH) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating revenue:
Total operating revenue	$ 14,986	$ 14,178	$ 27,525	$ 25,607
Operating expense:
Salaries and related costs	4,098	3,710	8,030	7,032
Aircraft fuel	3,133	2,820	6,087	5,994
Landing fees and other rent	866	765	1,670	1,482
Aircraft maintenance materials and outside repairs	716	686	1,489	1,388
Depreciation and amortization	719	669	1,427	1,324
Regional capacity purchase	612	599	1,197	1,214
Distribution expenses	626	487	1,106	890
Aircraft rent	40	49	83	105
Special charges	36	859	49	873
Other	2,211	2,017	4,359	3,831
Total operating expense	13,057	12,661	25,497	24,133
Operating income	1,929	1,517	2,028	1,474
Nonoperating income (expense):
Interest expense	(427)	(493)	(881)	(979)
Interest income	190	216	367	386
Interest capitalized	60	42	121	80
Unrealized gains (losses) on investments, net	(33)	84	(70)	108
Miscellaneous, net	20	21	10	62
Total nonoperating expense, net	(190)	(130)	(453)	(343)
Income before income tax expense	1,739	1,387	1,575	1,131
Income tax expense	416	312	376	250
Net income	$ 1,323	$ 1,075	$ 1,199	$ 881
Earnings per share, basic (in dollars per share)	$ 4.02	$ 3.28	$ 3.65	$ 2.69
Earnings per share, diluted (in dollars per share)	$ 3.96	$ 3.24	$ 3.60	$ 2.66
Passenger
Operating revenue:
Total operating revenue	$ 13,680	$ 13,002	$ 24,993	$ 23,276
Cargo
Operating revenue:
Total operating revenue	414	362	805	760
Other
Operating revenue:
Total operating revenue	$ 892	$ 814	$ 1,727	$ 1,571

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (UAH) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,323	$ 1,075	$ 1,199	$ 881
Other comprehensive income (loss), net of tax:
Employee benefit plans	(17)	(34)	(34)	(69)
Investments and other	1	(24)	(1)	(3)
Total other comprehensive loss, net of tax	(16)	(58)	(35)	(72)
Total comprehensive income, net	$ 1,307	$ 1,017	$ 1,164	$ 809

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (UAH) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 10,864	$ 6,058
Short-term investments	4,384	8,330
Restricted cash	30	31
Receivables, less allowance for credit losses (2024 — $20; 2023 — $18)	2,376	1,898
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2024 — $754; 2023 — $689)	1,680	1,561
Prepaid expenses and other	669	609
Total current assets	20,003	18,487
Operating property and equipment:
Flight equipment	49,814	48,448
Other property and equipment	11,295	10,527
Purchase deposits for flight equipment	3,457	3,550
Total operating property and equipment	64,566	62,525
Less — Accumulated depreciation and amortization	(23,901)	(22,710)
Total operating property and equipment, net	40,665	39,815
Operating lease right-of-use assets	3,803	3,914
Other assets:
Goodwill	4,527	4,527
Intangibles, less accumulated amortization (2024 — $1,347; 2023 — $1,495)	2,699	2,725
Restricted cash	220	245
Investments in affiliates and other, less allowance for credit losses (2024 — $32; 2023 — $38)	1,337	1,391
Total other assets	8,783	8,888
Total assets	73,254	71,104
Current liabilities:
Accounts payable	4,478	3,835
Accrued salaries and benefits	2,383	2,940
Advance ticket sales	9,365	6,704
Frequent flyer deferred revenue	3,252	3,095
Current maturities of long-term debt	4,757	4,018
Current maturities of operating leases	548	576
Current maturities of finance leases	110	172
Current maturities of other financial liabilities	68	57
Other	894	806
Total current liabilities	25,855	22,203
Long-term debt	21,687	25,057
Long-term obligations under operating leases	4,443	4,503
Long-term obligations under finance leases	65	91
Other liabilities and deferred credits:
Frequent flyer deferred revenue	4,101	4,048
Pension liability	998	968
Postretirement benefit liability	612	637
Deferred income taxes	951	594
Other financial liabilities	2,576	2,265
Other	1,440	1,414
Total other liabilities and deferred credits	10,678	9,926
Commitments and contingencies
Stockholders' equity:
Preferred stock	0	0
Common stock at par, $0.01 par value; authorized 1,000,000,000 shares; outstanding 328,832,139 and 328,018,739 shares at June 30, 2024 and December 31, 2023, respectively	4	4
Additional capital invested	9,001	8,992
Stock held in treasury, at cost	(3,368)	(3,441)
Retained earnings	4,986	3,831
Accumulated other comprehensive loss	(97)	(62)
Total stockholders' equity	10,526	9,324
Total liabilities and stockholders' equity	$ 73,254	$ 71,104

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (UAH) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Receivables, allowance for credit losses	$ 20	$ 18
Aircraft fuel, spare, parts and supplies, obsolescence allowance	754	689
Intangibles, accumulated amortization	1,347	1,495
Investments in affiliates and other, allowance for credit losses	$ 32	$ 38
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	1,000,000,000	1,000,000,000
Common shares, outstanding (in shares)	328,832,139	328,018,739

CONDENSED STATEMENTS OF CONSOLI

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) (UAH) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net cash provided by operating activities		$ 5,723	$ 6,941
Cash Flows from Investing Activities:
Capital expenditures, net of flight equipment purchase deposit returns		(2,530)	(3,263)
Purchases of short-term and other investments		(1,754)	(6,876)
Proceeds from sale of short-term and other investments		5,820	6,702
Proceeds from sale of property and equipment		42	9
Other, net		(3)	1
Net cash provided by (used in) investing activities		1,575	(3,427)
Cash Flows from Financing Activities:
Proceeds from issuance of debt and other financing liabilities, net of discounts and fees		3,718	1,591
Payments of long-term debt, finance leases and other financing liabilities		(6,217)	(2,614)
Other, net		(19)	(31)
Net cash used in financing activities		(2,518)	(1,054)
Net increase in cash, cash equivalents and restricted cash		4,780	2,460
Cash, cash equivalents and restricted cash at beginning of the period		6,334	7,421
Cash, cash equivalents and restricted cash at end of the period	[1]	11,114	9,881
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt, finance leases and other		(206)	559
Right-of-use assets acquired through operating leases		143	434
Lease modifications and lease conversions		73	349
Investment interests received in exchange for loans, goods and services		$ 18	$ 25

[1]The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet: Current assets: Cash and cash equivalents $ 10,864 $ 9,605 Restricted cash — Current 30 38 Restricted cash — Non-Current 220 238 Total cash, cash equivalents and restricted cash $ 11,114 $ 9,881

CONDENSED STATEMENTS OF CONSO_2

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) (UAH) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024		Dec. 31, 2023	Jun. 30, 2023		Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 10,864		$ 6,058	$ 9,605
Restricted cash — Current	30		31	38
Restricted cash — Non-Current	220		245	238
Total cash, cash equivalents and restricted cash	$ 11,114	[1]	$ 6,334	$ 9,881	[1]	$ 7,421

[1]The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet: Current assets: Cash and cash equivalents $ 10,864 $ 9,605 Restricted cash — Current 30 38 Restricted cash — Non-Current 220 238 Total cash, cash equivalents and restricted cash $ 11,114 $ 9,881

STATEMENTS OF CONSOLIDATED STOC

STATEMENTS OF CONSOLIDATED STOCKHOLDERS' EQUITY (UNAUDITED) (UAH) - USD ($) $ in Millions	Total	Common Stock	Additional Capital Invested	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance beginning (in shares) at Dec. 31, 2022		326,900,000
Balance beginning at Dec. 31, 2022	$ 6,896	$ 4	$ 8,986	$ (3,534)	$ 1,265	$ 175
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	881				881
Other comprehensive loss	(72)					(72)
Stock-settled share-based compensation	32		32
Stock issued for share-based awards, net of shares withheld for tax (in shares)		1,100,000
Stock issued for share-based awards, net of shares withheld for tax	(32)		(73)	92	(51)
Balance ending (in shares) at Jun. 30, 2023		328,000,000
Balance ending at Jun. 30, 2023	7,705	$ 4	8,945	(3,442)	2,095	103
Balance beginning (in shares) at Mar. 31, 2023		328,000,000
Balance beginning at Mar. 31, 2023	6,668	$ 4	8,926	(3,443)	1,020	161
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,075				1,075
Other comprehensive loss	(58)					(58)
Stock-settled share-based compensation	21		21
Stock issued for share-based awards, net of shares withheld for tax	(1)		(2)	1
Balance ending (in shares) at Jun. 30, 2023		328,000,000
Balance ending at Jun. 30, 2023	$ 7,705	$ 4	8,945	(3,442)	2,095	103
Balance beginning (in shares) at Dec. 31, 2023	328,018,739	328,000,000
Balance beginning at Dec. 31, 2023	$ 9,324	$ 4	8,992	(3,441)	3,831	(62)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,199				1,199
Other comprehensive loss	(35)					(35)
Stock-settled share-based compensation	56		56
Stock issued for share-based awards, net of shares withheld for tax (in shares)		800,000
Stock issued for share-based awards, net of shares withheld for tax	$ (18)		(47)	73	(44)
Balance ending (in shares) at Jun. 30, 2024	328,832,139	328,800,000
Balance ending at Jun. 30, 2024	$ 10,526	$ 4	9,001	(3,368)	4,986	(97)
Balance beginning (in shares) at Mar. 31, 2024		328,800,000
Balance beginning at Mar. 31, 2024	9,188	$ 4	8,973	(3,372)	3,664	(81)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,323				1,323
Other comprehensive loss	(16)					(16)
Stock-settled share-based compensation	31		31
Stock issued for share-based awards, net of shares withheld for tax	$ 0		(3)	4	(1)
Balance ending (in shares) at Jun. 30, 2024	328,832,139	328,800,000
Balance ending at Jun. 30, 2024	$ 10,526	$ 4	$ 9,001	$ (3,368)	$ 4,986	$ (97)

STATEMENTS OF CONSOLIDATED OP_2

STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED) (UA) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating revenue:
Total operating revenue	$ 14,986	$ 14,178	$ 27,525	$ 25,607
Operating expense:
Salaries and related costs	4,098	3,710	8,030	7,032
Aircraft fuel	3,133	2,820	6,087	5,994
Landing fees and other rent	866	765	1,670	1,482
Aircraft maintenance materials and outside repairs	716	686	1,489	1,388
Depreciation and amortization	719	669	1,427	1,324
Regional capacity purchase	612	599	1,197	1,214
Distribution expenses	626	487	1,106	890
Aircraft rent	40	49	83	105
Special charges	36	859	49	873
Other	2,211	2,017	4,359	3,831
Total operating expense	13,057	12,661	25,497	24,133
Operating income	1,929	1,517	2,028	1,474
Nonoperating income (expense):
Interest expense	(427)	(493)	(881)	(979)
Interest income	190	216	367	386
Interest capitalized	60	42	121	80
Unrealized gains (losses) on investments, net	(33)	84	(70)	108
Miscellaneous, net	20	21	10	62
Total nonoperating expense, net	(190)	(130)	(453)	(343)
Income before income tax expense	1,739	1,387	1,575	1,131
Income tax expense	416	312	376	250
Net income	1,323	1,075	1,199	881
Passenger
Operating revenue:
Total operating revenue	13,680	13,002	24,993	23,276
Cargo
Operating revenue:
Total operating revenue	414	362	805	760
Other
Operating revenue:
Total operating revenue	892	814	1,727	1,571
United Airlines, Inc.
Operating revenue:
Total operating revenue	14,986	14,178	27,525	25,607
Operating expense:
Salaries and related costs	4,098	3,710	8,030	7,032
Aircraft fuel	3,133	2,820	6,087	5,994
Landing fees and other rent	866	765	1,670	1,482
Aircraft maintenance materials and outside repairs	716	686	1,489	1,388
Depreciation and amortization	719	669	1,427	1,324
Regional capacity purchase	612	599	1,197	1,214
Distribution expenses	626	487	1,106	890
Aircraft rent	40	49	83	105
Special charges	36	859	49	873
Other	2,210	2,016	4,358	3,830
Total operating expense	13,056	12,660	25,496	24,132
Operating income	1,930	1,518	2,029	1,475
Nonoperating income (expense):
Interest expense	(427)	(493)	(881)	(979)
Interest income	190	216	367	386
Interest capitalized	60	42	121	80
Unrealized gains (losses) on investments, net	(33)	84	(70)	108
Miscellaneous, net	20	21	10	62
Total nonoperating expense, net	(190)	(130)	(453)	(343)
Income before income tax expense	1,740	1,388	1,576	1,132
Income tax expense	416	313	376	251
Net income	1,324	1,075	1,200	881
United Airlines, Inc. \| Passenger
Operating revenue:
Total operating revenue	13,680	13,002	24,993	23,276
United Airlines, Inc. \| Cargo
Operating revenue:
Total operating revenue	414	362	805	760
United Airlines, Inc. \| Other
Operating revenue:
Total operating revenue	$ 892	$ 814	$ 1,727	$ 1,571

STATEMENTS OF CONSOLIDATED CO_2

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (UA) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 1,323	$ 1,075	$ 1,199	$ 881
Other comprehensive income (loss), net of tax:
Employee benefit plans	(17)	(34)	(34)	(69)
Investments and other	1	(24)	(1)	(3)
Total other comprehensive loss, net of tax	(16)	(58)	(35)	(72)
Total comprehensive income, net	1,307	1,017	1,164	809
United Airlines, Inc.
Net income	1,324	1,075	1,200	881
Other comprehensive income (loss), net of tax:
Employee benefit plans	(17)	(34)	(34)	(69)
Investments and other	1	(24)	(1)	(3)
Total other comprehensive loss, net of tax	(16)	(58)	(35)	(72)
Total comprehensive income, net	$ 1,308	$ 1,017	$ 1,165	$ 809

CONSOLIDATED BALANCE SHEETS (_3

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (UA) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 10,864	$ 6,058
Short-term investments	4,384	8,330
Restricted cash	30	31
Receivables, less allowance for credit losses (2024 — $20; 2023 — $18)	2,376	1,898
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2024 — $754; 2023 — $689)	1,680	1,561
Prepaid expenses and other	669	609
Total current assets	20,003	18,487
Operating property and equipment:
Flight equipment	49,814	48,448
Other property and equipment	11,295	10,527
Purchase deposits for flight equipment	3,457	3,550
Total operating property and equipment	64,566	62,525
Less — Accumulated depreciation and amortization	(23,901)	(22,710)
Total operating property and equipment, net	40,665	39,815
Operating lease right-of-use assets	3,803	3,914
Other assets:
Goodwill	4,527	4,527
Intangibles, less accumulated amortization (2024 — $1,347; 2023 — $1,495)	2,699	2,725
Restricted cash	220	245
Investments in affiliates and other, less allowance for credit losses (2024 — $32; 2023 —$38)	1,337	1,391
Total other assets	8,783	8,888
Total assets	73,254	71,104
Current liabilities:
Accounts payable	4,478	3,835
Accrued salaries and benefits	2,383	2,940
Advance ticket sales	9,365	6,704
Frequent flyer deferred revenue	3,252	3,095
Current maturities of long-term debt	4,757	4,018
Current maturities of operating leases	548	576
Current maturities of finance leases	110	172
Current maturities of other financial liabilities	68	57
Other	894	806
Total current liabilities	25,855	22,203
Long-term debt	21,687	25,057
Long-term obligations under operating leases	4,443	4,503
Long-term obligations under finance leases	65	91
Other liabilities and deferred credits:
Frequent flyer deferred revenue	4,101	4,048
Pension liability	998	968
Postretirement benefit liability	612	637
Deferred income taxes	951	594
Other financial liabilities	2,576	2,265
Other	1,440	1,414
Total other liabilities and deferred credits	10,678	9,926
Commitments and contingencies
Stockholders' equity:
Common stock at par, $0.01 par value; authorized 1,000 shares; issued and outstanding 1,000 shares at both June 30, 2024 and December 31, 2023	4	4
Additional capital invested	9,001	8,992
Retained earnings	4,986	3,831
Accumulated other comprehensive loss	(97)	(62)
Total stockholders' equity	10,526	9,324
Total liabilities and stockholders' equity	73,254	71,104
United Airlines, Inc.
Current assets:
Cash and cash equivalents	10,864	6,058
Short-term investments	4,384	8,330
Restricted cash	30	31
Receivables, less allowance for credit losses (2024 — $20; 2023 — $18)	2,376	1,898
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2024 — $754; 2023 — $689)	1,680	1,561
Prepaid expenses and other	669	609
Total current assets	20,003	18,487
Operating property and equipment:
Flight equipment	49,814	48,448
Other property and equipment	11,295	10,527
Purchase deposits for flight equipment	3,457	3,550
Total operating property and equipment	64,566	62,525
Less — Accumulated depreciation and amortization	(23,901)	(22,710)
Total operating property and equipment, net	40,665	39,815
Operating lease right-of-use assets	3,803	3,914
Other assets:
Goodwill	4,527	4,527
Intangibles, less accumulated amortization (2024 — $1,347; 2023 — $1,495)	2,699	2,725
Restricted cash	220	245
Investments in affiliates and other, less allowance for credit losses (2024 — $32; 2023 —$38)	1,337	1,391
Total other assets	8,783	8,888
Total assets	73,254	71,104
Current liabilities:
Accounts payable	4,478	3,835
Accrued salaries and benefits	2,383	2,940
Advance ticket sales	9,365	6,704
Frequent flyer deferred revenue	3,252	3,095
Current maturities of long-term debt	4,757	4,018
Current maturities of operating leases	548	576
Current maturities of finance leases	110	172
Current maturities of other financial liabilities	68	57
Other	895	808
Total current liabilities	25,856	22,205
Long-term debt	21,687	25,057
Long-term obligations under operating leases	4,443	4,503
Long-term obligations under finance leases	65	91
Other liabilities and deferred credits:
Frequent flyer deferred revenue	4,101	4,048
Pension liability	998	968
Postretirement benefit liability	612	637
Deferred income taxes	981	622
Other financial liabilities	2,576	2,265
Other	1,440	1,414
Total other liabilities and deferred credits	10,708	9,954
Commitments and contingencies
Stockholders' equity:
Common stock at par, $0.01 par value; authorized 1,000 shares; issued and outstanding 1,000 shares at both June 30, 2024 and December 31, 2023	0	0
Additional capital invested	538	482
Retained earnings	7,536	6,336
Accumulated other comprehensive loss	(97)	(62)
Payable to parent	2,518	2,538
Total stockholders' equity	10,495	9,294
Total liabilities and stockholders' equity	$ 73,254	$ 71,104

CONSOLIDATED BALANCE SHEETS (_4

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (UA) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Receivables, allowance for credit losses	$ 20	$ 18
Aircraft fuel, spare, parts and supplies, obsolescence allowance	754	689
Intangibles, accumulated amortization	1,347	1,495
Investments in affiliates and other, allowance for credit losses	$ 32	$ 38
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	1,000,000,000	1,000,000,000
Common shares, outstanding (in shares)	328,832,139	328,018,739
United Airlines, Inc.
Receivables, allowance for credit losses	$ 20	$ 18
Aircraft fuel, spare, parts and supplies, obsolescence allowance	754	689
Intangibles, accumulated amortization	1,347	1,495
Investments in affiliates and other, allowance for credit losses	$ 32	$ 38
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	1,000	1,000
Common shares, issued (in shares)	1,000	1,000
Common shares, outstanding (in shares)	1,000	1,000

CONDENSED STATEMENTS OF CONSO_3

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) (UA) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net cash provided by operating activities		$ 5,723	$ 6,941
Cash Flows from Investing Activities:
Capital expenditures, net of flight equipment purchase deposit returns		(2,530)	(3,263)
Purchases of short-term and other investments		(1,754)	(6,876)
Proceeds from sale of short-term and other investments		5,820	6,702
Proceeds from sale of property and equipment		42	9
Other, net		(3)	1
Net cash provided by (used in) investing activities		1,575	(3,427)
Cash Flows from Financing Activities:
Proceeds from issuance of debt and other financing liabilities, net of discounts and fees		3,718	1,591
Payments of long-term debt, finance leases and other financing liabilities		(6,217)	(2,614)
Net cash used in financing activities		(2,518)	(1,054)
Net increase in cash, cash equivalents and restricted cash		4,780	2,460
Cash, cash equivalents and restricted cash at beginning of the period		6,334	7,421
Cash, cash equivalents and restricted cash at end of the period	[1]	11,114	9,881
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt, finance leases and other		(206)	559
Right-of-use assets acquired through operating leases		143	434
Lease modifications and lease conversions		73	349
Investment interests received in exchange for loans, goods and services		18	25
United Airlines, Inc.
Cash Flows from Operating Activities:
Net cash provided by operating activities		5,704	6,910
Cash Flows from Investing Activities:
Capital expenditures, net of flight equipment purchase deposit returns		(2,530)	(3,263)
Purchases of short-term and other investments		(1,754)	(6,876)
Proceeds from sale of short-term and other investments		5,820	6,702
Proceeds from sale of property and equipment		42	9
Other, net		(3)	1
Net cash provided by (used in) investing activities		1,575	(3,427)
Cash Flows from Financing Activities:
Proceeds from issuance of debt and other financing liabilities, net of discounts and fees		3,718	1,591
Payments of long-term debt, finance leases and other financing liabilities		(6,217)	(2,614)
Net cash used in financing activities		(2,499)	(1,023)
Net increase in cash, cash equivalents and restricted cash		4,780	2,460
Cash, cash equivalents and restricted cash at beginning of the period		6,334	7,421
Cash, cash equivalents and restricted cash at end of the period	[2]	11,114	9,881
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt, finance leases and other		(206)	559
Right-of-use assets acquired through operating leases		143	434
Lease modifications and lease conversions		73	349
Investment interests received in exchange for loans, goods and services		$ 18	$ 25

[1]The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet: Current assets: Cash and cash equivalents $ 10,864 $ 9,605 Restricted cash — Current 30 38 Restricted cash — Non-Current 220 238 Total cash, cash equivalents and restricted cash $ 11,114 $ 9,881 Current assets: Cash and cash equivalents $ 10,864 $ 9,605 Restricted cash — Current 30 38 Restricted cash — Non-Current 220 238 Total cash, cash equivalents and restricted cash $ 11,114 $ 9,881

CONDENSED STATEMENTS OF CONSO_4

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) (UA) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024		Dec. 31, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 10,864		$ 6,058	$ 9,605
Restricted cash — Current	30		31	38
Restricted cash — Non-Current	220		245	238
Total cash, cash equivalents and restricted cash	11,114	[1]	6,334	9,881	[1]
United Airlines, Inc.
Current assets:
Cash and cash equivalents	10,864		6,058	9,605
Restricted cash — Current	30		31	38
Restricted cash — Non-Current	220		245	238
Total cash, cash equivalents and restricted cash	$ 11,114	[2]	$ 6,334	$ 9,881	[2]

[1]The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet: Current assets: Cash and cash equivalents $ 10,864 $ 9,605 Restricted cash — Current 30 38 Restricted cash — Non-Current 220 238 Total cash, cash equivalents and restricted cash $ 11,114 $ 9,881 Current assets: Cash and cash equivalents $ 10,864 $ 9,605 Restricted cash — Current 30 38 Restricted cash — Non-Current 220 238 Total cash, cash equivalents and restricted cash $ 11,114 $ 9,881

STATEMENTS OF CONSOLIDATED ST_2

STATEMENTS OF CONSOLIDATED STOCKHOLDER'S EQUITY (UNAUDITED) (UA) - USD ($) $ in Millions	Total	Additional Capital Invested	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	United Airlines, Inc.	United Airlines, Inc. Additional Capital Invested	United Airlines, Inc. Retained Earnings	United Airlines, Inc. Accumulated Other Comprehensive Income (Loss)	United Airlines, Inc. Payable to Parent
Balance beginning at Dec. 31, 2022	$ 6,896	$ 8,986	$ 1,265	$ 175	$ 6,865	$ 403	$ 3,716	$ 175	$ 2,571
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	881		881		881		881
Other comprehensive loss	(72)			(72)	(72)			(72)
Stock-settled share-based compensation	32	32			32	32
Other					(32)				(32)
Balance ending at Jun. 30, 2023	7,705	8,945	2,095	103	7,674	435	4,597	103	2,539
Balance beginning at Mar. 31, 2023	6,668	8,926	1,020	161	6,636	414	3,522	161	2,539
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,075		1,075		1,075		1,075
Other comprehensive loss	(58)			(58)	(58)			(58)
Stock-settled share-based compensation	21	21			21	21
Balance ending at Jun. 30, 2023	7,705	8,945	2,095	103	7,674	435	4,597	103	2,539
Balance beginning at Dec. 31, 2023	9,324	8,992	3,831	(62)	9,294	482	6,336	(62)	2,538
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,199		1,199		1,200		1,200
Other comprehensive loss	(35)			(35)	(35)			(35)
Stock-settled share-based compensation	56	56			56	56
Other					(20)				(20)
Balance ending at Jun. 30, 2024	10,526	9,001	4,986	(97)	10,495	538	7,536	(97)	2,518
Balance beginning at Mar. 31, 2024	9,188	8,973	3,664	(81)	9,158	507	6,212	(81)	2,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,323		1,323		1,324		1,324
Other comprehensive loss	(16)			(16)	(16)			(16)
Stock-settled share-based compensation	31	31			31	31
Other					(2)				(2)
Balance ending at Jun. 30, 2024	$ 10,526	$ 9,001	$ 4,986	$ (97)	$ 10,495	$ 538	$ 7,536	$ (97)	$ 2,518

Combined Notes to Condensed Con

Combined Notes to Condensed Consolidated Financial Statements (Unaudited)	6 Months Ended
	Jun. 30, 2024
Unusual or Infrequent Items, or Both [Abstract]
COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)	COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) United Airlines Holdings, Inc. (together with its consolidated subsidiaries, "UAL" or the "Company") is a holding company and its wholly-owned subsidiary is United Airlines, Inc. (together with its consolidated subsidiaries, "United"). This Quarterly Report on Form 10-Q is a combined report of UAL and United, including their respective consolidated financial statements. As UAL consolidates United for financial statement purposes, disclosures that relate to activities of United also apply to UAL, unless otherwise noted. United's operating revenues and operating expenses comprise nearly 100% of UAL's revenues and operating expenses. In addition, United comprises approximately the entire balance of UAL's assets, liabilities and operating cash flows. When appropriate, UAL and United are named specifically for their individual contractual obligations and related disclosures, and any significant differences between the operations and results of UAL and United are separately disclosed and explained. We sometimes use the words "we," "our," "us," and the "Company" in this report for disclosures that relate to all of UAL and United. The UAL and United unaudited condensed consolidated financial statements shown here have been prepared as required by the U.S. Securities and Exchange Commission (the "SEC"). Some information and footnote disclosures normally included in financial statements that comply with accounting principles generally accepted in the United States ("GAAP") have been condensed or omitted as permitted by the SEC. The financial statements include all adjustments, including normal recurring adjustments and other adjustments, which are considered necessary for a fair presentation of the Company's financial position and results of operations for interim periods presented. The UAL and United financial statements should be read together with the information included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "2023 Form 10-K"). The Company's quarterly financial data is subject to seasonal fluctuations. Historically its second and third quarter financial results have reflected higher travel demand and were better than its first and fourth quarter financial results.

Revenue

Revenue	6 Months Ended
Revenue	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue by Geography. The table below presents the Company's operating revenue by principal geographic region (as defined by the U.S. Department of Transportation) (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Domestic (U.S. and Canada) $ 8,761 $ 8,417 $ 16,434 $ 15,584 Atlantic 3,277 3,229 5,110 5,061 Latin America 1,346 1,273 2,791 2,589 Pacific 1,602 1,259 3,190 2,373 Total $ 14,986 $ 14,178 $ 27,525 $ 25,607 Advance Ticket Sales. The Company defers amounts related to future travel in its Advance ticket sales liability account. All tickets sold at any given point in time have travel dates through the next 12 months. The Company estimates the value of Advance ticket sales that will expire unused ("breakage") and recognizes revenue and any changes in estimates in proportion to the usage of the related tickets. To determine breakage, the Company uses its historical experience with expired tickets and certificates and other facts, such as recent aging trends, program changes and modifications that could affect the ultimate expiration patterns. In the six months ended June 30, 2024 and 2023, the Company recognized approximately $5.0 billion and $4.6 billion, respectively, of passenger revenue for tickets that were included in Advance ticket sales at the beginning of those periods. Ancillary Fees. The Company charges fees, separately from ticket sales, for certain ancillary services that are directly related to passengers' travel. This includes fees for baggage, premium seats, inflight amenities and other ticket-related fees. These ancillary fees are part of the travel performance obligation and, as such, are recognized as passenger revenue when the travel occurs. The Company recorded $1.2 billion and $2.2 billion of ancillary fees within passenger revenue in the three and six months ended June 30, 2024, respectively. The Company recorded $1.0 billion and $1.9 billion of ancillary fees within passenger revenue in the three and six months ended June 30, 2023, respectively. Frequent Flyer Accounting. The table below presents a roll forward of Frequent flyer deferred revenue (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total Frequent flyer deferred revenue - beginning balance $ 7,279 $ 6,860 $ 7,143 $ 6,675 Total miles awarded 919 902 1,759 1,649 Travel miles redeemed (818) (712) (1,483) (1,243) Non-travel miles redeemed (27) (26) (66) (57) Total Frequent flyer deferred revenue - ending balance $ 7,353 $ 7,024 $ 7,353 $ 7,024 In the three and six months ended June 30, 2024, the Company recognized, in Other operating revenue, $0.7 billion and $1.5 billion, respectively, related to the marketing, advertising, non-travel miles redeemed (net of related costs) and other travel-related benefits of the mileage revenue associated with our various partner agreements including, but not limited to, our JPMorgan Chase Bank, N.A. MileagePlus co-brand agreement. The Company recognized $0.7 billion and $1.3 billion, respectively, in the three and six months ended June 30, 2023, related to those agreements. The portion related to the MileagePlus miles awarded of the total amounts received from our various partner agreements is deferred and presented in the table above as an increase to the Frequent flyer deferred revenue. We determine the current portion of that account based on our estimate of expected redemptions in the next 12 months.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table shows the computation of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of UAL's potential common stock (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Earnings available to common stockholders $ 1,323 $ 1,075 $ 1,199 $ 881 Basic weighted-average shares outstanding 328.8 328.0 328.6 327.7 Dilutive effect of stock warrants (a) 2.7 2.3 2.2 2.3 Dilutive effect of employee stock awards 2.4 1.2 2.3 1.5 Diluted weighted-average shares outstanding 333.9 331.5 333.1 331.5 Earnings per share, basic $ 4.02 $ 3.28 $ 3.65 $ 2.69 Earnings per share, diluted $ 3.96 $ 3.24 $ 3.60 $ 2.66 Potentially dilutive securities (b) Stock warrants (a) 1.5 1.5 1.5 1.5 Employee stock awards 0.6 0.7 0.6 0.7 (a) Represent warrants for purchase up to approximately 10 million shares of UAL common stock at exercise prices ranging from $31.50 to $53.92 and expiration dates ranging from April 20, 2025 to June 10, 2026. These warrants were originally issued to the U.S. Treasury Department ("Treasury") pursuant to the payroll support program, including extensions, and the loan program established under the Coronavirus Aid, Relief, and Economic Security Act. Treasury sold these warrants at an auction held on June 6, 2024. All warrants were outstanding as of June 30, 2024. (b) Weighted-average potentially dilutive securities outstanding excluded from the computation of diluted earnings per share because the securities would have had an antidilutive effect.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The table below presents the components of the Company's accumulated other comprehensive income (loss), net of tax ("AOCI") (in millions): Pension and Other Postretirement Liabilities Investments and Other Deferred Taxes (a) Total Balance at March 31, 2024 $ 267 $ (6) $ (342) $ (81) Changes in value 3 1 (1) 3 Amounts reclassified to earnings (25) (b) — 6 (19) Balance at June 30, 2024 $ 245 $ (5) $ (337) $ (97) Balance at December 31, 2023 $ 289 $ (4) $ (347) $ (62) Changes in value 6 (1) (1) 4 Amounts reclassified to earnings (50) (b) — 11 (39) Balance at June 30, 2024 $ 245 $ (5) $ (337) $ (97) Balance at March 31, 2023 $ 582 $ (8) $ (413) $ 161 Changes in value (8) (31) 8 (31) Amounts reclassified to earnings (35) (b) — 8 (27) Balance at June 30, 2023 $ 539 $ (39) $ (397) $ 103 Balance at December 31, 2022 $ 626 $ (35) $ (416) $ 175 Changes in value (17) (4) 4 (17) Amounts reclassified to earnings (70) (b) — 15 (55) Balance at June 30, 2023 $ 539 $ (39) $ (397) $ 103 (a) Includes approximately $285 million of deferred income tax expense that will not be recognized in net income until the related pension and postretirement benefit obligations are fully extinguished. We consider all income sources, including other comprehensive income, in determining the amount of tax benefit allocated to results from operations. (b) This AOCI component is included in the computation of net periodic pension and other postretirement costs, specifically the following components: amortization of unrecognized (gain) loss, amortization of prior service credit and other (see Note 5 of this report for additional information).

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's effective tax rates for the three and six months ended June 30, 2024 were 23.9% and 23.9%, respectively. The Company's effective tax rates for the three and six months ended June 30, 2023 were 22.5% and 22.1%, respectively. The provision for income taxes is based on the estimated annual effective tax rate, which represents a blend of federal, state and foreign taxes and includes the impact of certain nondeductible items.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
Employee Benefit Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Defined Benefit Pension and Other Postretirement Benefit Plans. The Company's net periodic benefit cost includes the following components for the three months ended June 30 (in millions): Pension Benefits Other Postretirement Benefits Affected Line Item 2024 2023 2024 2023 Service cost $ 34 $ 31 $ 2 $ 1 Salaries and related costs Interest cost 58 55 9 11 Miscellaneous, net Expected return on plan assets (69) (63) (1) (1) Miscellaneous, net Amortization of unrecognized (gain) loss 5 2 (6) (10) Miscellaneous, net Amortization of prior service credit — — (24) (28) Miscellaneous, net Other — 1 — — Miscellaneous, net Total $ 28 $ 26 $ (20) $ (27) The Company's net periodic benefit cost includes the following components for the six months ended June 30 (in millions): Pension Benefits Other Postretirement Benefits Affected Line Item 2024 2023 2024 2023 Service cost $ 68 $ 62 $ 3 $ 2 Salaries and related costs Interest cost 115 110 19 21 Miscellaneous, net Expected return on plan assets (138) (126) (1) (1) Miscellaneous, net Amortization of unrecognized (gain) loss 10 4 (13) (19) Miscellaneous, net Amortization of prior service credit — — (47) (56) Miscellaneous, net Other — 1 — — Miscellaneous, net Total $ 55 $ 51 $ (39) $ (53)

Fair value measurements, invest

Fair value measurements, investments and notes receivable	6 Months Ended
Fair value measurements, investments and notes receivable	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS, INVESTMENTS AND NOTES RECEIVABLE	FAIR VALUE MEASUREMENTS, INVESTMENTS AND NOTES RECEIVABLE The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in UAL's financial statements (in millions): June 30, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 10,864 $ 10,864 $ — $ — $ 6,058 $ 6,058 $ — $ — Restricted cash — current 30 30 — — 31 31 — — Restricted cash — non-current 220 220 — — 245 245 — — Short-term investments: U.S. government and agency notes 4,062 — 4,062 — 8,257 — 8,257 — Certificates of deposit placed through an account registry service (CDARS) 73 — 73 — 73 — 73 — Corporate Debt 249 — 249 — — — — — Long-term investments: Equity securities 80 80 — — 177 177 — — Investments presented in the table above have the same fair value as their carrying value. Restricted cash - current — Primarily includes amounts to be used for the payment of fees, principal and interest on senior secured notes and a secured term loan facility (the "MileagePlus Financing") secured by substantially all of the assets of Mileage Plus Holdings, LLC, a direct wholly-owned subsidiary of United. Restricted cash - non-current — Primarily includes collateral associated with the MileagePlus Financing, collateral for letters of credit and collateral associated with facility leases and other insurance-related obligations. Short-term investments — The short-term investments shown in the table above are classified as available-for-sale and have remaining maturities of less than two years. Long-term investments: Equity securities — Represents equity and equity-linked securities (such as vested warrants) that make up United's investments in Azul Linhas Aéreas Brasileiras S.A., Archer Aviation Inc., Eve Holding, Inc. and Mesa Air Group, Inc. Other fair value information. The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions). Carrying amounts include any related discounts, premiums and issuance costs: June 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Long-term debt $ 26,444 $ 25,978 $ — $ 19,307 $ 6,671 $ 29,075 $ 28,302 $ — $ 22,543 $ 5,759 Fair value of the financial instruments included in the tables above was determined as follows: Description Fair Value Methodology Cash and cash equivalents and Restricted cash (current and non-current) The carrying amounts of these assets approximate fair value. Short-term and Long-term investments Fair value is based on (a) the trading prices of the investment or similar instruments or (b) broker quotes obtained by third-party valuation services. Long-term debt Fair values are based on either market prices or the discounted amount of future cash flows using our current incremental rate of borrowing for similar liabilities. Equity Method Investments. As of June 30, 2024, United holds investments, accounted for using the equity method, with a combined carrying value of approximately $231 million. Significant equity method investments are described below: • Republic Airways Holdings Inc. United holds a 19% minority interest in Republic Airways Holdings Inc., which is the parent company of Republic Airways Inc. ("Republic"). Republic currently operates 65 regional aircraft under capacity purchase agreements ("CPAs") that have terms through 2035. • CommuteAir LLC. United owns a 40% minority ownership stake in CommuteAir LLC. CommuteAir currently operates 53 regional aircraft under a CPA that has a term through 2026. • United Airlines Ventures Sustainable Flight Fund (the "Fund"). United holds, through its corporate venture capital arm, United Airlines Ventures, Ltd., a 33% ownership interest in the Fund. The Fund is an investment vehicle designed to invest in start-ups developing technologies focused on decarbonizing aviation and its associated energy supply chains, including through research and production, and technologies associated with sustainable aviation fuel (SAF). Other Investments. As of June 30, 2024, United has equity investments in Abra Group Limited, a multinational airline holding company, JetSuiteX, Inc., an independent air carrier doing business as JSX, as well as a number of companies with emerging technologies and sustainable solutions. None of these investments have readily determinable fair values. We account for these investments at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer. As of June 30, 2024, the carrying value of these investments was $423 million. Notes Receivable. As of June 30, 2024, the Company has $86 million of notes receivable, net of allowance for credit losses, the majority of which is from certain of its regional carriers. The current portions of the notes receivable are recorded in Receivables, less allowance for credit losses. The long-term portion of the notes receivable is recorded in Investments in affiliates and other, less allowance for credit losses on the Company's consolidated balance sheet.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments. As of June 30, 2024, United had firm commitments to purchase aircraft from The Boeing Company ("Boeing") and Airbus S.A.S. ("Airbus") as presented in the table below: Contractual Aircraft Deliveries (b) Expected Aircraft Deliveries (c) Aircraft Type Number of Firm Last Six Months 2025 After 2025 Last Six Months 2025 After 2025 787 150 8 18 124 4 11 135 737 MAX 8 33 33 — — 16 17 — 737 MAX 9 143 33 40 70 9 44 90 737 MAX 10 167 — — 167 — — 167 A321neo 118 18 22 78 18 22 78 A321XLR 50 — — 50 — — 50 A350 45 — — 45 — — 45 (a) United also has options and purchase rights for additional aircraft. (b) Contractual aircraft deliveries reflect an agreement United entered into with Airbus on July 16, 2024 to adjust delivery schedules for the A321neo ("Airbus Agreement"). (c) Expected aircraft deliveries reflect adjustments to contractual delivery schedules as communicated by Boeing and Airbus or estimated by United. However, aircraft deliveries are subject to a number of variables, as further described in Part I, Item 1A. Risk Factors of the 2023 Form 10-K, and we cannot guarantee delivery of any particular aircraft at any specific time notwithstanding firm purchase commitments. The aircraft listed in the table above are scheduled for delivery through 2033. The amount and timing of the Company's future capital commitments could change to the extent that: (i) the Company and the aircraft manufacturers, with whom the Company has existing orders for new aircraft, agree to modify the contracts governing those orders; (ii) rights are exercised pursuant to the relevant agreements to cancel deliveries or modify the timing of deliveries; or (iii) the aircraft manufacturers are unable to deliver in accordance with the terms of those orders. On April 14, 2024, the Company entered into confidential arrangements with Boeing with respect to compensation for financial damages incurred in the first quarter of 2024 due to the Federal Aviation Administration grounding of the Boeing 737 MAX 9 aircraft, and a confidential agreement to accommodate certification delays for the Boeing 737 MAX 10 aircraft. The compensation provided by Boeing for the grounding damages and in connection with rescheduling deliveries was in the form of credit memos for use on future purchases from Boeing. The Company is accounting for these arrangements as a reduction to the cost basis of the previously-delivered Boeing 737 MAX 9 aircraft and future deliveries of the Boeing 737 MAX 9 and Boeing 737 MAX 10 aircraft, which will reduce future depreciation expense associated with these aircraft. The table below summarizes United's firm commitments as of June 30, 2024, which include aircraft and related spare engines, aircraft improvements and non-aircraft capital commitments. Aircraft commitments are based on contractual scheduled aircraft deliveries without any adjustments communicated by Boeing and Airbus or estimated by United but reflecting the Airbus Agreement and the April 14, 2024 arrangements between United and Boeing. (in billions) Last six months of 2024 $ 5.6 2025 6.6 2026 5.5 2027 4.7 2028 7.2 After 2028 27.8 $ 57.4 In the second quarter of 2024, the Company signed letters of intent to enter into future leasing arrangements with major aircraft leasing companies for 40 Airbus A321neo aircraft with expected deliveries in 2026 and 2027. In July 2024, the Company entered into definitive agreements to lease 35 of the 40 Airbus A321neo aircraft, which will commence between 2026 and 2027. As of the filing date of this report, we have leases of approximately $3.7 billion for several mainline aircraft, regional aircraft under CPAs, airport facility and office space leases, none of which had commenced as of such date. These leases will commence between 2024 and 2038 with lease terms of up to 12 years. Regional CPAs . During the six months ended June 30, 2024 , United amended several of its CPAs with certain of its regional carriers to increase the contractually agreed fees (carrier costs) paid to those carriers and to modify the terms for certain aircraft. Our future commitments under our CPAs are dependent on numerous variables, and are, therefore, difficult to predict. The most important of these variables is the number of scheduled block hours. Although we are not required to purchase a minimum number of block hours under certain of our CPAs, we have set forth below estimates of our future payments under the CPAs based on our assumptions. The actual amounts we pay to our regional operators under CPAs could differ materially from these estimates. United's estimates of its future payments under all of the CPAs do not include the portion of the underlying obligation for any aircraft leased to a regional carrier, or deemed to be leased from other regional carriers, and facility rent. For purposes of calculating these estimates, we have assumed (1) the number of block hours flown is based on our anticipated level of flight activity or at any contractual minimum utilization levels if applicable, whichever is higher, (2) that we will reduce the fleet as rapidly as contractually allowed under each CPA, (3) that aircraft utilization, stage length and load factors will remain constant, (4) that each carrier's operational performance will remain at recent historic levels and (5) an annual projected inflation rate. Based on these assumptions as of June 30, 2024 , our estimated future payments through the end of the terms of our CPAs are presented in the table below : (in billions) Last six months of 2024 $ 1.3 2025 2.4 2026 2.2 2027 1.7 2028 1.4 After 2028 4.3 $ 13.3 Guarantees. As of June 30, 2024, United is the guarantor of approximately $1.9 billion in aggregate principal amount of tax-exempt special facilities revenue bonds and interest thereon. These bonds, issued by various airport municipalities, are payable solely from rentals paid under long-term agreements with the respective governing bodies. The leasing arrangements associated with these obligations are accounted for as operating leases recognized on the Company's consolidated balance sheet with the associated expense recorded on a straight-line basis over the expected lease term. All of these bonds are due between 2024 and 2041. As of June 30, 2024, United is the guarantor of $70 million of aircraft mortgage debt issued by one of United's regional carriers. The aircraft mortgage debt is subject to similar increased cost provisions as described below for the Company's debt, and the Company would potentially be responsible for those costs under the guarantees. Increased Cost Provisions. In United's financing transactions that include loans in which United is the borrower, United typically agrees to reimburse lenders for any reduced returns with respect to the loans due to any change in capital requirements and, in the case of loans with respect to which the interest rate is based on the Secured Overnight Financing Rate ("SOFR"), for certain other increased costs that the lenders incur in carrying these loans as a result of any change in law, subject, in most cases, to obligations of the lenders to take certain limited steps to mitigate the requirement for, or the amount of, such increased costs. At June 30, 2024, the Company had $10.3 billion of floating rate debt with remaining terms of up to approximately 12 years that are subject to these increased cost provisions. In several financing transactions involving loans or leases from non-U.S. entities, with remaining terms of up to approximately 12 years and an aggregate balance of $7.2 billion, the Company bears the risk of any change in tax laws that would subject loan or lease payments thereunder to non-U.S. entities to withholding taxes, subject to customary exclusions. Labor . As of June 30, 2024, the Company had approximately 106,000 employees, of whom approximately 82% were represented by various U.S. labor organizations. On February 23, 2024, United's International Association of Machinists and Aerospace Workers ("IAM") represented security guards in California and central load planners ratified new collective bargaining agreements. The ratified agreements are effective through 2025. On February 28, 2024, United and the International Brotherhood of Teamsters (IBT) reached a tentative agreement for an extension to their labor contract, which covers United's technicians and related employees. On April 17, 2024, the United technicians declined the proposed four-year contract extension and will continue to work under their current agreement, which becomes amendable in December 2024.

Debt

Debt	6 Months Ended
Debt	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT On February 15, 2024, the Company entered into an Amended and Restated Revolving Credit and Guaranty Agreement (the "Revolving Credit Facility") increasing the borrowing capacity by $1.115 billion, which may be drawn upon until February 15, 2029, in the case of any Revolving Loans (as defined in the Revolving Credit Facility) made by the Extending Lenders (as defined in the Revolving Credit Facility), and April 21, 2025, in the case of any Revolving Loans made by the 2024 Non-Extending Lenders (as defined in the Revolving Credit Facility). The revolving loan commitments of the Extending Lenders equal $2.7 billion and the revolving loan commitments of the 2024 Non-Extending Lenders equal $165 million. The Revolving Loans, if any, bear interest at a variable rate equal to Term SOFR (as defined in the Revolving Credit Facility), generally subject to a floor, plus a credit adjustment spread described in the Revolving Credit Facility, or, at United's election, another rate based on certain market interest rates, also generally subject to a floor, in each case plus a variable margin ranging from 3.00% to 3.50%, in the case of Term SOFR loans, and 2.00% to 2.50%, in the case of loans at other market rates. On April 16, 2024, the Company increased the revolving loan commitments of the Extending Lenders by $100 million. The revolving loan commitments of the Extending Lenders now equal $2.8 billion and the revolving loan commitments of the 2024 Non-Extending Lenders remain $165 million. As of June 30, 2024, we had $2.965 billion undrawn and available under the Revolving Credit Facility. On February 22, 2024, the Company also entered into Amendment No. 2 to Term Loan Credit and Guaranty Agreement (as amended, the "Term Loan Facility" and, together with the Revolving Credit Facility, the "Loan Facilities") and (i) used available cash in an amount equal to $1.37 billion to partially prepay the term loans under the 2021 term loans and (ii) borrowed the entire term loan commitment available under the Term Loan Facility in an amount equal to $2.5 billion and used the proceeds of such terms loans (the "Term Loans") to prepay in full the remaining outstanding principal balance under the existing term loan facility. The Term Loans bear interest at a variable rate equal to Term SOFR (subject to a floor of 0.0%); or, at United's election, another rate based on certain market interest rates (subject to a floor of 1.0%), in each case plus a margin of 2.75%, in the case of Term SOFR loans, and 1.75%, in the case of loans at other market rates. The remaining balance of the Term Loans will mature and be due and payable on February 22, 2031. The table below presents the Company's contractual principal payments (not including $249 million of unamortized debt discount, premiums and debt issuance costs) as of June 30, 2024 under then-outstanding long-term debt agreements (in millions): Last six months of 2024 $ 3,349 2025 2,900 2026 4,694 2027 2,225 2028 1,688 After 2028 11,837 $ 26,693 During the six months ended June 30, 2024, United borrowed $0.9 billion aggregate principal amount from financial institutions to finance the purchase of aircraft. The notes evidencing these borrowings, which are secured by the related aircraft, mature between 2034 and 2036 and bear interest at variable rates equal to Term SOFR plus a margin of up to 2.00%. Our debt agreements contain customary terms and conditions as well as various affirmative, negative and financial covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur additional indebtedness and pay dividends or repurchase stock. As of June 30, 2024, UAL and United were in compliance with their respective debt covenants.

Special Charges

Special Charges	6 Months Ended
Special Charges	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
SPECIAL CHARGES	SPECIAL CHARGES For the three and six months ended June 30, operating and nonoperating special charges and unrealized (gains) losses on investments in the statements of consolidated operations consisted of the following (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Operating: (Gains) losses on sale of assets and other special charges $ 36 $ 46 $ 49 $ 60 Labor contract ratification bonuses — 813 — 813 Total operating special charges 36 859 49 873 Nonoperating: Nonoperating unrealized (gains) losses on investments, net 33 (84) 70 (108) Nonoperating debt extinguishment and modification fees — 11 35 11 Total nonoperating special charges and unrealized (gains) losses on investments, net 33 (73) 105 (97) Total operating and nonoperating special charges and unrealized (gains) losses on investments, net 69 786 154 776 Income tax benefit, net of valuation allowance (8) (194) (19) (197) Total operating and nonoperating special charges and unrealized (gains) losses on investments, net of income taxes $ 61 $ 592 $ 135 $ 579 2024 (Gains) losses on sale of assets and other special charges . During the three and six months ended June 30, 2024, the Company incurred $36 million and $49 million, respectively, of charges primarily consisting of a write down to fair market value for assets held for sale, losses on the disposal of assets, a settlement related to a certain pilot long term disability plan, accelerated depreciation on assets with shortened lives and write-off of certain international slots no longer in use, which were partially offset by a gain from a favorable outcome related to a certain contract dispute as well as gains on sales of assets. Nonoperating unrealized (gains) losses on investments, net. During the three and six months ended June 30, 2024, the Company recorded losses of $33 million and $70 million, respectively, primarily related to the change in the market value of its investments in equity securities. Nonoperating debt extinguishment and modification fees . During the six months ended June 30, 2024, the Company recorded $35 million of charges primarily related to the refinancing of its 2021 term loans. 2023 (Gains) losses on sale of assets and other special charges. During the three and six months ended June 30, 2023, the Company recorded $46 million and $60 million, respectively, of net charges primarily comprised of reserves for various legal matters, accelerated depreciation related to certain of the Company's assets that were retired early and other gains and losses on the sale of assets. Labor contract ratification bonuses. During the three and six months ended June 30, 2023, the Company recorded $813 million of expense associated with an Agreement in Principle with its employees represented by the Air Line Pilots Association and ratified contracts with the IAM. Nonoperating unrealized (gains) losses on investments, net. During the three and six months ended June 30, 2023, the Company recorded gains of $84 million and $108 million, respectively, primarily related to the change in the market value of its investments in equity securities. Nonoperating debt extinguishment and modification fees . During the three and six months ended June 30, 2023, the Company recorded $11 million of charges primarily related to the prepayment of $1.0 billion of the outstanding principal amount under a 2021 term loan facility.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 1,323	$ 1,075	$ 1,199	$ 881

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Operating Revenue by Geographic Region	The table below presents the Company's operating revenue by principal geographic region (as defined by the U.S. Department of Transportation) (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Domestic (U.S. and Canada) $ 8,761 $ 8,417 $ 16,434 $ 15,584 Atlantic 3,277 3,229 5,110 5,061 Latin America 1,346 1,273 2,791 2,589 Pacific 1,602 1,259 3,190 2,373 Total $ 14,986 $ 14,178 $ 27,525 $ 25,607
Schedule of Roll Forward of Frequent Flyer Deferred Revenue	The table below presents a roll forward of Frequent flyer deferred revenue (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total Frequent flyer deferred revenue - beginning balance $ 7,279 $ 6,860 $ 7,143 $ 6,675 Total miles awarded 919 902 1,759 1,649 Travel miles redeemed (818) (712) (1,483) (1,243) Non-travel miles redeemed (27) (26) (66) (57) Total Frequent flyer deferred revenue - ending balance $ 7,353 $ 7,024 $ 7,353 $ 7,024

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share	The following table shows the computation of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of UAL's potential common stock (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Earnings available to common stockholders $ 1,323 $ 1,075 $ 1,199 $ 881 Basic weighted-average shares outstanding 328.8 328.0 328.6 327.7 Dilutive effect of stock warrants (a) 2.7 2.3 2.2 2.3 Dilutive effect of employee stock awards 2.4 1.2 2.3 1.5 Diluted weighted-average shares outstanding 333.9 331.5 333.1 331.5 Earnings per share, basic $ 4.02 $ 3.28 $ 3.65 $ 2.69 Earnings per share, diluted $ 3.96 $ 3.24 $ 3.60 $ 2.66 Potentially dilutive securities (b) Stock warrants (a) 1.5 1.5 1.5 1.5 Employee stock awards 0.6 0.7 0.6 0.7 (a) Represent warrants for purchase up to approximately 10 million shares of UAL common stock at exercise prices ranging from $31.50 to $53.92 and expiration dates ranging from April 20, 2025 to June 10, 2026. These warrants were originally issued to the U.S. Treasury Department ("Treasury") pursuant to the payroll support program, including extensions, and the loan program established under the Coronavirus Aid, Relief, and Economic Security Act. Treasury sold these warrants at an auction held on June 6, 2024. All warrants were outstanding as of June 30, 2024. (b) Weighted-average potentially dilutive securities outstanding excluded from the computation of diluted earnings per share because the securities would have had an antidilutive effect.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Tax	The table below presents the components of the Company's accumulated other comprehensive income (loss), net of tax ("AOCI") (in millions): Pension and Other Postretirement Liabilities Investments and Other Deferred Taxes (a) Total Balance at March 31, 2024 $ 267 $ (6) $ (342) $ (81) Changes in value 3 1 (1) 3 Amounts reclassified to earnings (25) (b) — 6 (19) Balance at June 30, 2024 $ 245 $ (5) $ (337) $ (97) Balance at December 31, 2023 $ 289 $ (4) $ (347) $ (62) Changes in value 6 (1) (1) 4 Amounts reclassified to earnings (50) (b) — 11 (39) Balance at June 30, 2024 $ 245 $ (5) $ (337) $ (97) Balance at March 31, 2023 $ 582 $ (8) $ (413) $ 161 Changes in value (8) (31) 8 (31) Amounts reclassified to earnings (35) (b) — 8 (27) Balance at June 30, 2023 $ 539 $ (39) $ (397) $ 103 Balance at December 31, 2022 $ 626 $ (35) $ (416) $ 175 Changes in value (17) (4) 4 (17) Amounts reclassified to earnings (70) (b) — 15 (55) Balance at June 30, 2023 $ 539 $ (39) $ (397) $ 103 (a) Includes approximately $285 million of deferred income tax expense that will not be recognized in net income until the related pension and postretirement benefit obligations are fully extinguished. We consider all income sources, including other comprehensive income, in determining the amount of tax benefit allocated to results from operations. (b) This AOCI component is included in the computation of net periodic pension and other postretirement costs, specifically the following components: amortization of unrecognized (gain) loss, amortization of prior service credit and other (see Note 5 of this report for additional information).

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
Employee Benefit Plans (Tables)	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	The Company's net periodic benefit cost includes the following components for the three months ended June 30 (in millions): Pension Benefits Other Postretirement Benefits Affected Line Item 2024 2023 2024 2023 Service cost $ 34 $ 31 $ 2 $ 1 Salaries and related costs Interest cost 58 55 9 11 Miscellaneous, net Expected return on plan assets (69) (63) (1) (1) Miscellaneous, net Amortization of unrecognized (gain) loss 5 2 (6) (10) Miscellaneous, net Amortization of prior service credit — — (24) (28) Miscellaneous, net Other — 1 — — Miscellaneous, net Total $ 28 $ 26 $ (20) $ (27) The Company's net periodic benefit cost includes the following components for the six months ended June 30 (in millions): Pension Benefits Other Postretirement Benefits Affected Line Item 2024 2023 2024 2023 Service cost $ 68 $ 62 $ 3 $ 2 Salaries and related costs Interest cost 115 110 19 21 Miscellaneous, net Expected return on plan assets (138) (126) (1) (1) Miscellaneous, net Amortization of unrecognized (gain) loss 10 4 (13) (19) Miscellaneous, net Amortization of prior service credit — — (47) (56) Miscellaneous, net Other — 1 — — Miscellaneous, net Total $ 55 $ 51 $ (39) $ (53)

Fair value measurements, inve_2

Fair value measurements, investments and notes receivable (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in UAL's financial statements (in millions): June 30, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 10,864 $ 10,864 $ — $ — $ 6,058 $ 6,058 $ — $ — Restricted cash — current 30 30 — — 31 31 — — Restricted cash — non-current 220 220 — — 245 245 — — Short-term investments: U.S. government and agency notes 4,062 — 4,062 — 8,257 — 8,257 — Certificates of deposit placed through an account registry service (CDARS) 73 — 73 — 73 — 73 — Corporate Debt 249 — 249 — — — — — Long-term investments: Equity securities 80 80 — — 177 177 — —
Schedule of Carrying Values and Estimated Fair Values of Financial Instruments	The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions). Carrying amounts include any related discounts, premiums and issuance costs: June 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Long-term debt $ 26,444 $ 25,978 $ — $ 19,307 $ 6,671 $ 29,075 $ 28,302 $ — $ 22,543 $ 5,759
Schedule of Fair Value Measurement Inputs and Valuation Techniques	Fair value of the financial instruments included in the tables above was determined as follows: Description Fair Value Methodology Cash and cash equivalents and Restricted cash (current and non-current) The carrying amounts of these assets approximate fair value. Short-term and Long-term investments Fair value is based on (a) the trading prices of the investment or similar instruments or (b) broker quotes obtained by third-party valuation services. Long-term debt Fair values are based on either market prices or the discounted amount of future cash flows using our current incremental rate of borrowing for similar liabilities.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Firm Commitments	As of June 30, 2024, United had firm commitments to purchase aircraft from The Boeing Company ("Boeing") and Airbus S.A.S. ("Airbus") as presented in the table below: Contractual Aircraft Deliveries (b) Expected Aircraft Deliveries (c) Aircraft Type Number of Firm Last Six Months 2025 After 2025 Last Six Months 2025 After 2025 787 150 8 18 124 4 11 135 737 MAX 8 33 33 — — 16 17 — 737 MAX 9 143 33 40 70 9 44 90 737 MAX 10 167 — — 167 — — 167 A321neo 118 18 22 78 18 22 78 A321XLR 50 — — 50 — — 50 A350 45 — — 45 — — 45 (a) United also has options and purchase rights for additional aircraft. (b) Contractual aircraft deliveries reflect an agreement United entered into with Airbus on July 16, 2024 to adjust delivery schedules for the A321neo ("Airbus Agreement"). (c) Expected aircraft deliveries reflect adjustments to contractual delivery schedules as communicated by Boeing and Airbus or estimated by United. However, aircraft deliveries are subject to a number of variables, as further described in Part I, Item 1A. Risk Factors of the 2023 Form 10-K, and we cannot guarantee delivery of any particular aircraft at any specific time notwithstanding firm purchase commitments.
Schedule of Commitments	The table below summarizes United's firm commitments as of June 30, 2024, which include aircraft and related spare engines, aircraft improvements and non-aircraft capital commitments. Aircraft commitments are based on contractual scheduled aircraft deliveries without any adjustments communicated by Boeing and Airbus or estimated by United but reflecting the Airbus Agreement and the April 14, 2024 arrangements between United and Boeing. (in billions) Last six months of 2024 $ 5.6 2025 6.6 2026 5.5 2027 4.7 2028 7.2 After 2028 27.8 $ 57.4
Schedule of Estimated Future payments of Contractual Obligation	Based on these assumptions as of June 30, 2024 , our estimated future payments through the end of the terms of our CPAs are presented in the table below : (in billions) Last six months of 2024 $ 1.3 2025 2.4 2026 2.2 2027 1.7 2028 1.4 After 2028 4.3 $ 13.3

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Contractual Principal Payments	The table below presents the Company's contractual principal payments (not including $249 million of unamortized debt discount, premiums and debt issuance costs) as of June 30, 2024 under then-outstanding long-term debt agreements (in millions): Last six months of 2024 $ 3,349 2025 2,900 2026 4,694 2027 2,225 2028 1,688 After 2028 11,837 $ 26,693

Special Charges (Tables)

Special Charges (Tables)	6 Months Ended
Special Charges (Tables)	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Components of Special Charges	For the three and six months ended June 30, operating and nonoperating special charges and unrealized (gains) losses on investments in the statements of consolidated operations consisted of the following (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Operating: (Gains) losses on sale of assets and other special charges $ 36 $ 46 $ 49 $ 60 Labor contract ratification bonuses — 813 — 813 Total operating special charges 36 859 49 873 Nonoperating: Nonoperating unrealized (gains) losses on investments, net 33 (84) 70 (108) Nonoperating debt extinguishment and modification fees — 11 35 11 Total nonoperating special charges and unrealized (gains) losses on investments, net 33 (73) 105 (97) Total operating and nonoperating special charges and unrealized (gains) losses on investments, net 69 786 154 776 Income tax benefit, net of valuation allowance (8) (194) (19) (197) Total operating and nonoperating special charges and unrealized (gains) losses on investments, net of income taxes $ 61 $ 592 $ 135 $ 579

Revenue - Schedule of Operating

Revenue - Schedule of Operating Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 14,986	$ 14,178	$ 27,525	$ 25,607
Domestic (U.S. and Canada)
Disaggregation of Revenue [Line Items]
Total operating revenue	8,761	8,417	16,434	15,584
Atlantic
Disaggregation of Revenue [Line Items]
Total operating revenue	3,277	3,229	5,110	5,061
Latin America
Disaggregation of Revenue [Line Items]
Total operating revenue	1,346	1,273	2,791	2,589
Pacific
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 1,602	$ 1,259	$ 3,190	$ 2,373

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue From Contract With Customer [Line Items]
Total operating revenue	$ 14,986	$ 14,178	$ 27,525	$ 25,607
Advance Ticket Sales
Revenue From Contract With Customer [Line Items]
Revenue recognized			5,000	4,600
Ancillary Fees
Revenue From Contract With Customer [Line Items]
Total operating revenue	1,200	1,000	2,200	1,900
Other Operating Revenue
Revenue From Contract With Customer [Line Items]
Total operating revenue	892	814	1,727	1,571
Other Operating Revenue \| Chase and Other Partner Agreements
Revenue From Contract With Customer [Line Items]
Total operating revenue	$ 700	$ 700	$ 1,500	$ 1,300

Revenue - Roll Forward of Frequ

Revenue - Roll Forward of Frequent Flyer Deferred Revenue (Details) - Frequent Flyer - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Frequent Flyer Deferred Revenue [Roll Forward]
Total Frequent flyer deferred revenue - beginning balance	$ 7,279	$ 6,860	$ 7,143	$ 6,675
Total miles awarded	919	902	1,759	1,649
Travel miles redeemed	(818)	(712)	(1,483)	(1,243)
Non-travel miles redeemed	(27)	(26)	(66)	(57)
Total Frequent flyer deferred revenue - ending balance	$ 7,353	$ 7,024	$ 7,353	$ 7,024

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Earnings available to common stockholders	$ 1,323	$ 1,075	$ 1,199	$ 881
Basic weighted-average shares outstanding (in shares)	328.8	328	328.6	327.7
Dilutive effect of stock warrants (in shares)	2.7	2.3	2.2	2.3
Dilutive effect of employee stock awards (in shares)	2.4	1.2	2.3	1.5
Diluted weighted-average share outstanding (in shares)	333.9	331.5	333.1	331.5
Earnings per share, basic (in dollars per share)	$ 4.02	$ 3.28	$ 3.65	$ 2.69
Earnings per share, diluted (in dollars per share)	$ 3.96	$ 3.24	$ 3.60	$ 2.66
CARES Act Loan Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants to purchase securities (in shares)	10		10
CARES Act Loan Warrants \| Minimum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrant exercise price (in dollars per share)	$ 31.50		$ 31.50
CARES Act Loan Warrants \| Maximum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrant exercise price (in dollars per share)	$ 53.92		$ 53.92
Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	1.5	1.5	1.5	1.5
Employee stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0.6	0.7	0.6	0.7

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Deferred Taxes
Balance beginning	$ (342)	$ (413)	$ (347)	$ (416)
Changes in value	(1)	8	(1)	4
Amounts reclassified to earnings	6	8	11	15
Balance ending	(337)	(397)	(337)	(397)
Total
Balance beginning	9,188	6,668	9,324	6,896
Changes in value	3	(31)	4	(17)
Amounts reclassified to earnings	(19)	(27)	(39)	(55)
Balance ending	10,526	7,705	10,526	7,705
Accumulated Other Comprehensive Income (Loss)
Total
Balance beginning	(81)	161	(62)	175
Balance ending	(97)	103	(97)	103
Deferred income tax expense	285	285	285	285
Pension and Other Postretirement Liabilities
Before Tax
Balance beginning	267	582	289	626
Changes in value	3	(8)	6	(17)
Amounts reclassified to earnings	(25)	(35)	(50)	(70)
Balance ending	245	539	245	539
Investments and Other
Before Tax
Balance beginning	(6)	(8)	(4)	(35)
Changes in value	1	(31)	(1)	(4)
Amounts reclassified to earnings	0	0	0	0
Balance ending	$ (5)	$ (39)	$ (5)	$ (39)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	23.90%	22.50%	23.90%	22.10%

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 34	$ 31	$ 68	$ 62
Interest cost	58	55	115	110
Expected return on plan assets	(69)	(63)	(138)	(126)
Amortization of unrecognized (gain) loss	5	2	10	4
Amortization of prior service credit	0	0	0	0
Other	0	1	0	1
Total	28	26	55	51
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	1	3	2
Interest cost	9	11	19	21
Expected return on plan assets	(1)	(1)	(1)	(1)
Amortization of unrecognized (gain) loss	(6)	(10)	(13)	(19)
Amortization of prior service credit	(24)	(28)	(47)	(56)
Other	0	0	0	0
Total	$ (20)	$ (27)	$ (39)	$ (53)

Fair value measurements, inve_3

Fair value measurements, investments and notes receivable - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Measured on a Recurring Basis - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 10,864	$ 6,058
Restricted cash — current	30	31
Restricted cash — non-current	220	245
Equity securities	80	177
U.S. government and agency notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	4,062	8,257
Certificates of deposit placed through an account registry service (CDARS)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	73	73
Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	249	0
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	10,864	6,058
Restricted cash — current	30	31
Restricted cash — non-current	220	245
Equity securities	80	177
Level 1 \| U.S. government and agency notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0	0
Level 1 \| Certificates of deposit placed through an account registry service (CDARS)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0	0
Level 1 \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash — current	0	0
Restricted cash — non-current	0	0
Equity securities	0	0
Level 2 \| U.S. government and agency notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	4,062	8,257
Level 2 \| Certificates of deposit placed through an account registry service (CDARS)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	73	73
Level 2 \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	249	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash — current	0	0
Restricted cash — non-current	0	0
Equity securities	0	0
Level 3 \| U.S. government and agency notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0	0
Level 3 \| Certificates of deposit placed through an account registry service (CDARS)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	0	0
Level 3 \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments:	$ 0	$ 0

Fair value measurements, inve_4

Fair value measurements, investments and notes receivable - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) aircraft
Fair Value [Line Items]
Equity method investments	$ 231
Carrying amount of loan receivable	$ 86
Republic Airways Holdings Inc.
Fair Value [Line Items]
Number of aircraft operated \| aircraft	65
Champlain Enterprises LLC
Fair Value [Line Items]
Number of aircraft operated \| aircraft	53
Republic Airways Holdings Inc.
Fair Value [Line Items]
Ownership stake	19%
CommuteAir LLC
Fair Value [Line Items]
Ownership stake	40%
United Airlines Ventures Sustainable Flight Fund
Fair Value [Line Items]
Ownership stake	33%
Fulcrum BioEnergy, Inc., Boom, Alder Fuels LLC, Heart Aerospace Incorporated and ZeroAvia, Inc.
Fair Value [Line Items]
Investment carrying value	$ 423
Corporate Debt \| Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	2 years

Fair value measurements, inve_5

Fair value measurements, investments and notes receivable - Schedule of Carrying Values and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, carrying amount	$ 26,444	$ 29,075
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	25,978	28,302
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	19,307	22,543
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 6,671	$ 5,759

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Firm Commitments (Details)	Jun. 30, 2024 aircraft_commitment aircraft
787
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	150
Contractual Aircraft Deliveries
Last Six Months of 2024	8
2025	18
After 2025	124
Expected Aircraft Deliveries
Last Six Months of 2024	4
2025	11
After 2025	135
737 MAX 8
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	33
Contractual Aircraft Deliveries
Last Six Months of 2024	33
2025	0
After 2025	0
Expected Aircraft Deliveries
Last Six Months of 2024	16
2025	17
After 2025	0
737 MAX 9
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	143
Contractual Aircraft Deliveries
Last Six Months of 2024	33
2025	40
After 2025	70
Expected Aircraft Deliveries
Last Six Months of 2024	9
2025	44
After 2025	90
737 MAX 10
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	167
Contractual Aircraft Deliveries
Last Six Months of 2024	0
2025	0
After 2025	167
Expected Aircraft Deliveries
Last Six Months of 2024	0
2025	0
After 2025	167
A321neo
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	118
Contractual Aircraft Deliveries
Last Six Months of 2024	18
2025	22
After 2025	78
Expected Aircraft Deliveries
Last Six Months of 2024	18
2025	22
After 2025	78
A321XLR
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	50
Contractual Aircraft Deliveries
Last Six Months of 2024	0
2025	0
After 2025	50
Expected Aircraft Deliveries
Last Six Months of 2024	0
2025	0
After 2025	50
A350
Long-term Purchase Commitment [Line Items]
Number of Firm Commitments \| aircraft_commitment	45
Contractual Aircraft Deliveries
Last Six Months of 2024	0
2025	0
After 2025	45
Expected Aircraft Deliveries
Last Six Months of 2024	0
2025	0
After 2025	45

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Commitments (Details) $ in Billions	Jun. 30, 2024 USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Last six months of 2024	$ 1.3
2025	2.4
2026	2.2
2027	1.7
2028	1.4
After 2028	4.3
Total commitments	13.3
Capital Commitments
Unrecorded Unconditional Purchase Obligation [Line Items]
Last six months of 2024	5.6
2025	6.6
2026	5.5
2027	4.7
2028	7.2
After 2028	27.8
Total commitments	$ 57.4

Commitments and Contingencies_3

Commitments and Contingencies - Narrative (Details) employee in Thousands, $ in Millions		6 Months Ended
	Apr. 17, 2024	Jun. 30, 2024 USD ($) employee aircraft	Jul. 31, 2024 aircraft	Jul. 18, 2024 USD ($)
Commitments and Contingencies [Line Items]
Additional leases		$ 13,300
United Airlines, Inc.
Commitments and Contingencies [Line Items]
Number of employees \| employee		106
Percentage of employees represented by various U.S. labor organizations		82%
Proposed extension period for technician labor contracts	4 years
Tax-Exempt Special Facilities Revenue Bonds
Commitments and Contingencies [Line Items]
Aggregate principal amount of guarantee		$ 1,900
Aircraft Mortgage Debt
Commitments and Contingencies [Line Items]
Aggregate principal amount of guarantee		70
Floating Rate Debt
Commitments and Contingencies [Line Items]
Long-term debt		$ 10,300
Remaining term of debt		12 years
Loans and Leases from Non-U.S. Entities
Commitments and Contingencies [Line Items]
Remaining term of debt		12 years
Aggregate balance		$ 7,200
Subsequent Event
Commitments and Contingencies [Line Items]
Additional leases				$ 3,700
Lease terms of additional leases				12 years
A321neo
Commitments and Contingencies [Line Items]
Number of aircrafts with expected deliveries in 2026 and 2027 \| aircraft		40
A321neo \| Subsequent Event
Commitments and Contingencies [Line Items]
Number of aircraft entered into lease agreements \| aircraft			35

Commitment and Contingencies -

Commitment and Contingencies - Schedule of Estimated Future payments of Contractual Obligation (Details) $ in Billions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Last six months of 2024	$ 1.3
2025	2.4
2026	2.2
2027	1.7
2028	1.4
After 2028	4.3
Total commitments	$ 13.3

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions				3 Months Ended	6 Months Ended
Debt - Narrative (Details) - USD ($) $ in Millions	Jul. 02, 2024	Feb. 22, 2024	Feb. 15, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Apr. 16, 2024
Debt Instrument [Line Items]
Repayments of long-term debt					$ 6,217	$ 2,614
Unamortized debt discount					249
Secured Debt \| Term Loan Facility
Debt Instrument [Line Items]
Proceeds from issuance of debt		$ 2,500
Secured Debt \| Term Loan Facility \| Subsequent Event
Debt Instrument [Line Items]
Repayments of long-term debt	$ 1,800
Secured Debt \| Term Loan Due 2021
Debt Instrument [Line Items]
Repayments of long-term debt		$ 1,370		$ 1,000		$ 1,000
Secured Debt \| Aircraft Purchase Financing
Debt Instrument [Line Items]
Aggregate principal amount of debt					$ 900
Secured Debt \| Secured Overnight Financing Rate (SOFR) \| Term Loan Facility
Debt Instrument [Line Items]
Percent spread on variable rate		2.75%
Debt instrument, interest rate floor		0%
Secured Debt \| Secured Overnight Financing Rate (SOFR) \| Aircraft Purchase Financing
Debt Instrument [Line Items]
Percent spread on variable rate					2%
Secured Debt \| Other Market Rate Loans \| Term Loan Facility
Debt Instrument [Line Items]
Percent spread on variable rate		1.75%
Debt instrument, interest rate floor		1%
Secured Debt \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, increase (decrease) in maximum borrowing capacity			$ 1,115				$ 100
Undrawn and available amount under revolving credit facility					$ 2,965
Secured Debt \| Revolving Credit Facility \| Extending Lenders
Debt Instrument [Line Items]
Maximum borrowing capacity			2,700				2,800
Secured Debt \| Revolving Credit Facility \| Non-Extending Lenders
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 165				$ 165
Secured Debt \| Revolving Credit Facility \| Non-Extending Lenders \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Percent spread on variable rate			3%
Secured Debt \| Revolving Credit Facility \| Non-Extending Lenders \| Secured Overnight Financing Rate (SOFR) \| Maximum
Debt Instrument [Line Items]
Percent spread on variable rate			3.50%
Secured Debt \| Revolving Credit Facility \| Non-Extending Lenders \| Other Market Rate Loans \| Minimum
Debt Instrument [Line Items]
Percent spread on variable rate			2%
Secured Debt \| Revolving Credit Facility \| Non-Extending Lenders \| Other Market Rate Loans \| Maximum
Debt Instrument [Line Items]
Percent spread on variable rate			2.50%

Debt - Schedule of Contractual

Debt - Schedule of Contractual Principal Payments (Details) - UAL And United $ in Millions	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Last six months of 2024	$ 3,349
2025	2,900
2026	4,694
2027	2,225
2028	1,688
After 2028	11,837
Total long-term debt	$ 26,693

Special Charges - Schedule of C

Special Charges - Schedule of Components of Special Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating:
(Gains) losses on sale of assets and other special charges	$ 36	$ 46	$ 49	$ 60
Labor contract ratification bonuses	0	813	0	813
Total operating special charges	36	859	49	873
Nonoperating:
Nonoperating unrealized (gains) losses on investments, net	33	(84)	70	(108)
Nonoperating debt extinguishment and modification fees	0	11	35	11
Total nonoperating special charges and unrealized (gains) losses on investments, net	33	(73)	105	(97)
Total operating and nonoperating special charges and unrealized (gains) losses on investments, net	69	786	154	776
Income tax benefit, net of valuation allowance	(8)	(194)	(19)	(197)
Total operating and nonoperating special charges and unrealized (gains) losses on investments, net of income taxes	$ 61	$ 592	$ 135	$ 579

Special Charges - Narrative (De

Special Charges - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Feb. 22, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Special Charges [Line Items]
(Gains) losses on sale of assets and other special charges		$ 36	$ 46	$ 49	$ 60
Nonoperating unrealized (gains) losses		33	(84)	70	(108)
Deferred debt issuance cost, writeoff				35
Labor contract ratification bonuses		0	813	0	813
Nonoperating debt extinguishment and modification fees		$ 0	11	35	11
Prepayment of outstanding principal amount				$ 6,217	2,614
Secured Debt \| Term Loan Due 2021
Special Charges [Line Items]
Prepayment of outstanding principal amount	$ 1,370		$ 1,000		$ 1,000