Every material Form 8-K United Airlines has filed with the SEC since May 29, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
United Airlines Holdings reported third-quarter 2026 diluted earnings per share of $3.14, up 8.3% from $2.90, and total operating revenue of $17.9 billion, up 17.4%. The company said it expects fourth-quarter total operating revenue to grow more than 20% year over year, while aircraft fuel expense rose 61.6% to $4.8 billion.
Q3 net income was $1.0 billion ($1,029 million), up 8.5%; pre-tax earnings were $1.3 billion, up 4.5%.
Q3 adjusted diluted EPS was $2.54, which the company described as within its guidance.
Aircraft fuel expense was $4.8 billion, up 61.6%, with average fuel price of $3.90 per gallon versus $2.43 a year earlier.
The investor update outlines Q4 2026 revenue growth above 20% year over year, and an earnings call is set for October 21, 2026.
United Airlines Holdings reported second-quarter 2026 results, with total operating revenue of $17.7 billion, up 16.0% from a year earlier, and diluted earnings per share of $2.46 (adjusted $1.99). It raised its full-year 2026 adjusted diluted EPS guidance to $9.00-$11.00, but expects nearly $6 billion in added fuel expense for the year versus its January expectation, which is the main cost pressure for shareholders.
Q2 2026 total operating revenue $17.7 billion, up 16.0%; net income $805 million; pre-tax earnings $1.0 billion
Full-year 2026 adjusted diluted EPS guidance raised to $9.00-$11.00
Q2 aircraft fuel expense rose $2.3 billion, or 84%; company expects to recover 80%-90% of the increase in Q3 and 100% by Q4
Ending available liquidity of $19.6 billion; total debt and lease obligations of $26.5 billion at quarter end
United Airlines reported first-quarter 2026 diluted earnings per share of $2.14, up 85% year over year, and total operating revenue of $14.6 billion, up 10.6%. Fuel expense rose $340 million, and the company plans to cut its planned capacity by 5 points for the rest of 2026, with third- and fourth-quarter capacity now expected to be flat to up approximately 2% year over year. Shareholders get higher reported profit, but the capacity cut and elevated fuel prices are near-term pressures on the business.
Diluted EPS of $2.14, up 85%; adjusted diluted EPS of $1.19, up 31%, within initial guidance of $1.00 to $1.50
Total operating revenue of $14.6 billion, up 10.6%; net income of $0.7 billion
Aircraft fuel expense up $340 million; average fuel price of $2.78 per gallon, up 9.9%
Expects Q3 and Q4 2026 capacity flat to up approximately 2% year over year, after a 5-point cut versus the original plan
On February 6, 2026, United Airlines Holdings, Inc. issued $1,000,000,000 of 4.875% senior notes due March 1, 2029 in a public offering, guaranteed by its subsidiary United Airlines, Inc. The notes were sold under a shelf registration and an underwriting agreement dated February 3, 2026, and the filing does not state how the proceeds will be used.
Principal amount: $1,000,000,000; interest of 4.875% per year, paid semi-annually on March 1 and September 1, starting September 1, 2026
Maturity: March 1, 2029; UAL may redeem before December 1, 2028 at the greater of par or a make-whole amount, and at par plus accrued interest on or after that date
Covenants limit liens securing borrowed money or capital leases and mergers or asset transfers, subject to exceptions; holders may require repurchase at 101% of principal upon a Change of Control Triggering Event
Underwriters acting through Barclays Capital Inc. and BofA Securities, Inc.; issued under the Base Indenture dated May 7, 2013 with The Bank of New York Mellon Trust Company, N.A. as trustee
United Airlines Holdings issued $1 billion of 5.375% senior notes maturing March 1, 2031, in a public offering on February 2, 2026, with United Airlines, Inc. guaranteeing the notes. The filing describes covenants limiting liens and mergers, and redemption and change-of-control terms, but does not state how the proceeds will be used.
Principal amount of $1 billion, issued February 2, 2026, maturing March 1, 2031
Interest of 5.375% per year, paid semi-annually on March 1 and September 1, starting September 1, 2026
Redeemable before September 1, 2030 at the greater of par or a make-whole amount; at par plus accrued interest on or after that date
Holders may require repurchase at 101% of principal plus accrued interest after a change of control triggering event, unless redeemed or a third-party offer is made
United Airlines Holdings reported fourth-quarter and full-year 2025 results, saying EPS exceeded Wall Street expectations. Full-year diluted EPS rose 8% to $10.20, and Q4 revenue of $15.4 billion was up 4.8% from a year earlier, but Q4 Total Revenue Per Available Seat Mile fell 1.6%. The company also cited about $250 million of pre-tax earnings impact from the November government shutdown.
Q4 2025 diluted EPS $3.19; adjusted diluted EPS $3.10, within the $3.00 to $3.50 initial guidance range
United Airlines Holdings reported third-quarter 2025 diluted earnings per share of $2.90 and adjusted diluted EPS of $2.78, above the top of its $2.25 to $2.75 guidance, on total operating revenue of $15.2 billion, up 2.6% year over year. The company guided to fourth-quarter 2025 adjusted diluted EPS of $3.00 to $3.50 and expects a meaningful year-over-year improvement in unit revenue, which supports earnings for shareholders.
Q3 2025 pre-tax earnings were $1.3 billion, with a pre-tax margin of 8.2%; adjusted pre-tax earnings were $1.2 billion.
Q3 total operating revenue rose 2.6% to $15.2 billion, while TRASM fell 4.3% and capacity rose 7.2%.
Q4 2025 adjusted diluted EPS guidance is $3.00 to $3.50; management expects Q4 to be the highest total operating revenue quarter in company history.
The company prepaid the remaining $1.5 billion MileagePlus bonds and repurchased about $612 million of shares year to date through September 30, 2025.
United Airlines reported second-quarter 2025 results with diluted earnings per share of $2.97 and adjusted diluted earnings per share of $3.87, above its guidance range of $3.25 to $4.25. The company also updated its full-year adjusted diluted EPS guidance to $9.00 to $11.00, citing less geopolitical and macroeconomic uncertainty and a demand increase starting in early July. Shareholders get a higher profit result and a new full-year outlook, though the filing also reports $447 million in second-quarter special charges.
Q2 adjusted diluted EPS of $3.87 versus guidance of $3.25 to $4.25; GAAP diluted EPS of $2.97
Q2 total operating revenue of $15.2 billion, up 1.7%; net income of $1.0 billion
Full-year 2025 adjusted diluted EPS guidance updated to $9.00 to $11.00; Q2 special charges were $447 million versus $36 million a year earlier
United Airlines Holdings disclosed that subsidiary Mileage Plus Holdings redeemed in full all $1.52 billion of its 6.50% Senior Secured Notes due 2027 on July 7, 2025, using only cash on hand. The company said the redemption is part of its deleveraging plan, and that the MileagePlus assets are now unencumbered. Preliminary second-quarter 2025 figures are unaudited and show total debt of $25.6 billion including the redemption, though available liquidity falls to $17.1 billion on the same basis.
On July 7, 2025, all $1.52 billion of 6.50% Senior Secured Notes due 2027 were redeemed using cash on hand, with no refinancing or replacement debt.
The MileagePlus assets are unencumbered after the redemption and the July 2024 prepayment of the $1.8 billion secured term loan.
Preliminary total debt at June 30, 2025 was $27.1 billion, or $25.6 billion including the redemption, down from a $36.3 billion peak in Q2 2021.
Available liquidity was $18.6 billion, or $17.1 billion including the redemption; the figures are unaudited and subject to closing procedures.
United Airlines Holdings reported first-quarter 2025 total operating revenue of $13.2 billion, up 5.4%, and diluted earnings per share of $1.16, compared with a loss of $0.38 a year earlier. The company said adjusted diluted EPS of $0.91 was within its guidance range, and it will remove 4 points of scheduled domestic capacity starting in the third quarter of 2025 while expecting resilient earnings in the second quarter and full year.
Q1 2025 pre-tax earnings of $478 million, with a pre-tax margin of 3.6%, versus a pre-tax loss of $164 million in Q1 2024
Diluted EPS of $1.16 vs. a loss of $0.38 a year earlier; adjusted diluted EPS of $0.91
Operating cash flow of $3.7 billion and free cash flow of $2.3 billion in the quarter; year-to-date share repurchases of approximately $451 million through April 10, 2025
Domestic scheduled capacity to be reduced by 4 points starting in Q3 2025, per the investor update furnished with the filing
United Airlines Holdings reported fourth-quarter 2024 diluted earnings per share of $2.95, up from $1.81 a year earlier, on total operating revenue of $14.7 billion, up 7.8%. Full-year 2024 diluted EPS was $9.45 versus $7.89 in 2023, and the company said it sees robust demand in the first quarter of 2025, with forward guidance provided in a separate Investor Update.
Q4 2024 net income of $985 million and diluted EPS of $2.95, versus $600 million and $1.81 in Q4 2023
Q4 2024 pre-tax margin of 8.9%; full-year 2024 pre-tax earnings of $4.2 billion and diluted EPS of $9.45
Full-year adjusted diluted EPS of $10.61, at the better end of the 2024 guidance range of $9.00 to $11.00
Investor Update posted January 21, 2025 with business outlook; earnings call scheduled for January 22, 2025 at 9:30 a.m. CST
Captain Anne Worster resigned from United Airlines Holdings' board effective immediately after losing her role as chairperson of the ALPA-MEC pilots' council, the body that elects her seat. The pilots' council designated Brian Noyes to fill the vacancy effective January 15, 2025. The filing says Worster's exit was not due to any disagreement with the company, and Noyes will receive no cash or equity pay as a director.
Anne Worster resigned from the board effective immediately; the company received notice on January 13, 2025
ALPA-MEC designated Brian Noyes to fill the vacancy on January 15, 2025
Filing states Worster's departure was not due to any disagreement with the company
Noyes will not receive cash or equity director compensation; board committee assignments not yet designated
United Airlines reported third-quarter 2024 results, with total operating revenue up 2.5% to $14.8 billion but net income down 15.1% to $965 million and diluted EPS down to $2.90 from $3.42. Adjusted diluted EPS of $3.33 beat the company's $2.75 to $3.25 guidance range, and the board authorized a share repurchase of up to $1.5 billion, the first since the program was suspended in 2020. Forward outlook is furnished separately in an Investor Update (Exhibit 99.2), which the filing excerpt does not detail.
Total operating revenue of $14.8 billion, up 2.5% from third-quarter 2023; net income of $965 million, down 15.1%.
Diluted EPS of $2.90 versus $3.42 a year earlier; adjusted diluted EPS of $3.33, above the $2.75 to $3.25 guidance given at the start of the quarter.
New share repurchase program of up to $1.5 billion, subject to a $500 million limit through year-end 2024.
Year-to-date operating cash flow of $7.2 billion and free cash flow of $3.4 billion; net leverage of 2.7x, with a target below 2x in the next few years.
United Airlines Holdings disclosed that Executive Vice President and Chief Customer Officer Linda Jojo informed the company on September 16, 2024, of her plan to retire effective January 2, 2025. The filing says she will receive retirement benefits under applicable agreements and company plans, and it gives no successor details.
Linda Jojo, EVP and Chief Customer Officer, to retire effective January 2, 2025
Notice of intent given to the company on September 16, 2024
Retirement benefits to follow applicable agreements and company plans, subject to their terms
Filing reports over a decade of service with the company; no successor named
United Airlines Holdings reported second-quarter 2024 results on July 17, 2024, with total operating revenue of $15.0 billion, up 5.7% from a year earlier, and net income of $1.3 billion. Diluted earnings per share were $3.96, up from $3.24, and adjusted EPS of $4.14 was in line with the company's second-quarter guidance. The company continues to expect full-year 2024 adjusted EPS of $9 to $11 and posted an investor update with additional outlook details.
Total operating revenue of $15.0 billion, up 5.7%; TRASM down 2.4% year over year
Pre-tax earnings of $1.7 billion, with a pre-tax margin of 11.6%; adjusted pre-tax margin of 12.1%
Diluted EPS of $3.96 versus $3.24 a year earlier; adjusted diluted EPS of $4.14
Full-year 2024 adjusted diluted EPS outlook of $9 to $11 unchanged; earnings call set for July 18, 2024 at 9:30 a.m. CDT
At its May 22, 2024 annual meeting, United Airlines Holdings stockholders approved the Second Amendment to the 2021 Incentive Compensation Plan, which raises the maximum number of shares authorized for issuance under the plan by 2,700,000. Stockholders also re-elected all 11 board nominees and ratified Ernst & Young LLP as auditor, which matters to shareholders because the plan increase allows more equity to be issued to employees and directors.
Plan Amendment increases authorized shares under the 2021 Plan by 2,700,000, approved at the May 22, 2024 annual meeting
Plan approval received 202,700,294 votes for and 8,294,331 against, with 56,357,231 broker non-votes
All 11 director nominees were elected, including Captain Anne Worster (ALPA) and Richard Johnsen (IAM) through class preferred stock rights
Ernst & Young LLP was ratified as independent auditor for fiscal year ending December 31, 2024, with 263,053,397 votes for
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