United Airlines Holdings

Last updated
United Airlines Holdings, Inc.
Formerly
  • UAL, Inc. (1968–1987)
  • Allegis Corporation (1987–1988)
  • UAL Corporation (1988–2010)
  • United Continental Holdings, Inc. (2010–2019)
Company type Public
Industry Aviation
FoundedDecember 30, 1968;55 years ago (1968-12-30) in Chicago, Illinois, United States
Headquarters
Area served
Worldwide
Key people
RevenueIncrease2.svg US$53.7 billion (2023)
Increase2.svgUS$4.2 billion (2023)
Increase2.svgUS$2.6 billion (2023)
Total assets Increase2.svgUS$71.1 billion (2023)
Total equity Increase2.svgUS$9.3 billion (2023)
Number of employees
103,300 (2023)
Subsidiaries
Website ir.united.com
Footnotes /references
Financials as of December 31,2023.
References: [1] [2]

United Airlines Holdings, Inc. (formerly known as United Continental Holdings, Inc., UAL Corporation, Allegis Corporation and founded originally as UAL, Inc. [3] ) is a publicly traded airline holding company headquartered in the Willis Tower in Chicago. [4] UAH owns and operates United Airlines, Inc.

Contents

UAL Corporation agreed to change its name to United Continental Holdings in 2010, when an agreement was reached between United and Continental Airlines where the two airlines merged in an $8.5 billion all-stock merger of equals on October 1, 2010. To effect the acquisition, Continental shareholders received 1.05 shares of UAL stock for each Continental share; at the time of closing, it was estimated that United shareholders owned 55% of the merged entity and Continental shareholders owned 45%. [5] The company or its subsidiary airlines also have several other subsidiaries. Once completely combined, United became the world's largest airline, as measured by revenue passenger miles. United is a founding member of the Star Alliance. [6]

UAH has major operations at Chicago–O'Hare, Denver, Guam, Houston–Intercontinental, Los Angeles, New York/Newark, San Francisco, and Washington–Dulles. Additionally, UAH's United is the largest U.S. carrier to the People's Republic of China and maintains a large operation throughout Asia. [6]

UAH uses Continental's operating certificate and United's repair station certificate, having been approved by the FAA on November 30, 2011. [7] [8]

On June 27, 2019, the name of the parent company was changed from United Continental Holdings to United Airlines Holdings. [9]

United's global headquarters occupy 20 floors of Willis Tower in Chicago Sears Tower ss.jpg
United's global headquarters occupy 20 floors of Willis Tower in Chicago

Development

Early in February 2008, UAL Corporation and Continental Airlines began advanced stages of merger negotiations and were expected to announce their decision in the immediate aftermath of a definitive merger agreement between rival Delta Air Lines and Northwest Airlines. [10] The timing of the events was notable because Northwest's golden shares in Continental (that gave Northwest veto authority against any merger involving Continental) could be redeemed, freeing Continental to pursue a marriage with United. On April 27, 2008, Continental broke off merger negotiations with United and stated it was going to stand alone. [11] Despite ending merger talks, Continental announced that it would join United in the Star Alliance. [12]

United and US Airways were in advanced merger talks in late April 2008, following the announcement that Continental had broken off talks with United. [13] In June 2008, CEOs of both United Airlines and Continental Airlines signed an alliance pact presaging their eventual merger. The alliance is an agreement to link international networks and share technology and passenger perks. This agreement is basically a "virtual merger" that includes many of the benefits of a merger without the actual costs and restructuring involved. The alliance took effect about a year after Delta Air Lines and Northwest Airlines completed their merger, as that released Continental from the SkyTeam contract and allowed for the required nine-month notice. Additionally, Continental joined Star Alliance, as Delta and Northwest merged. [14]

United Airlines was reported to be in serious merger discussion with US Airways in early April 2010. A New York Times report indicated that a deal was close. Union consent was cited as a major hurdle for negotiators to clear. [15] On April 22, 2010, United announced that it would not pursue a merger with US Airways. [16]

The Board of Directors at Continental and United Airlines approved a stock-swap deal that would combine them into the world's largest airline on Sunday, May 2, 2010. The airlines publicly announced the deal the next day. [6] This would re-unite Walter Varney's airlines, which offspring includes Continental and United. [17]

Both airlines have taken losses in the recession and expect the merger to generate savings of more than $1 billion a year. [18] Combined, they fly to some 370 destinations in 59 countries from their ten hubs, [19] and carry 144 million passengers a year. [18] Combined revenues will be about $29 billion. [20]

In July, the merger of the two airlines was approved by the European Union. [21]

On August 27, 2010, the U.S. Department of Justice approved the $3 billion merger [22] and shareholders of both the companies approved the merger on September 17, 2010. [23] [24] On October 1, 2010, UAL Corporation (the parent company of United Airlines) completed its acquisition of Continental Airlines and changed its name to United Continental Holdings, Inc. Although the two airlines remained separated until the operational integration was completed, as of this day both airlines are corporately controlled by the same leadership. Both carriers achieved a single operating certificate from the FAA on November 30, 2011 which allowed both airlines to operate under the name "United". [25]

Corporate affairs

The company ranked No. 81 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. [26]

The key trends for United Airlines are (as of the end of the calendar year):

Year Revenue (in millions of US$) Net income (in millions of US$)Total Assets (in millions of US$)EmployeesNumber of passengers (in millions) Passenger load factor (%)Fleet sizeRefs
201137,11083737,98887,00096.382.8701 [27]
201237,152(723)37,62888,00093.582.9702 [28]
201338,27957136,81287,00091.383.8693 [29]
201438,9011,13236,59584,00013883.6691 [30]
201537,8647,34040,86184,00014083.4715 [31]
201636,5562,26340,14088,00014382.9737 [32]
201737,7362,13142,32689,80014882.4744 [33]
201841,3032,12249,02492,00015883.6770 [34]
201943,2593,00952,61196,00016284.0777 [35]
202015,355(7,069)59,54874,40057.760.2812 [36]
202124,634(1,964)68,17584,10010472.2826 [37]
202244,95573767,35892,80014483.4868 [38]
202353,7172,61871,104103,30016583.9945 [1]

Branding

When United Airlines and Continental Airlines announced their merger in May 2010 they introduced their new corporate branding. It featured the words "United Airlines" in the then-current Continental typeface, and Continental's globe-like logo. United updated their branding once again in August 2010, replacing the words "United Airlines" with the single word UNITED and changing the font to United's traditional upper-case sans-serif font. [39] United's new CEO Jeff Smisek, who previously served as Continental's chairman, helped design the new font, integrating it with the existing Lippincott-designed Continental graphics. He has noted that he has received over 15,000 emails with suggestions for a new livery. [40]

Boeing 787-10 landing at Frankfurt Airport in May 2023. Frankfurt Airport United Airlines Boeing 787-10 Dreamliner N14011 (DSC07721).jpg
Boeing 787-10 landing at Frankfurt Airport in May 2023.

Re-painting and branding started in late-2010 and is said to be "accelerated" by early-to-mid-2011. [41]

On March 1, 2011, United unveiled an "interim" marketing campaign replacing the previous "It's Time to Fly" campaign, which included fingerpaint ads and television spots created by Fallon. On the same date, United removed the iconic 38-year-old Saul Bass-designed "Tulip" logo from its website and all new advertisements will feature the former Continental globe logo. This new campaign was used until 2012, when United reconditioned a former slogan, "Fly the Friendly Skies". [42]

Fleet

As of December, 2023, United Airlines operated 924 mainline aircraft and 503 regional aircraft. [43]

Hubs

United Airlines and United Express operated more than 4,500 flights a day to 339 destinations; 140 million customers were carried on 1.5 million flights in 2015. [44]

United Airlines hubs [45]
AirportType/regionAirline before merger
Chicago–O'Hare Largest hub, Midwest hubUnited
Denver Mountain hubUnited
Guam Pacific Ocean hubContinental
Houston–Intercontinental Second largest hub, primary gateway to Latin AmericaContinental
Los Angeles Secondary West Coast hub, secondary gateway to Latin AmericaUnited
Newark Primary East Coast hub, primary gateway to EuropeContinental
San Francisco Primary West Coast and transpacific hubUnited
Washington–Dulles Secondary East Coast hub, secondary gateway to EuropeUnited

See also

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References

  1. 1 2 "United Airlines, Inc. 2023 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 29, 2024. Retrieved March 18, 2024.
  2. ↑ "Company Overview". United Airlines Holdings, Inc. Retrieved June 29, 2019.
  3. ↑ "United States Securities And Exchange Commission: Form 8-K Current Report". United Airlines Holdings. October 1, 2010.
  4. ↑ Golab, Art (August 13, 2012). "United commits to Willis as HQ, with lease through 2028". Chicago Sun-Times . Archived from the original on August 18, 2012. Retrieved October 3, 2010.
  5. ↑ "Investor Relations – News". United Continental Holdings, Inc. Archived from the original on July 10, 2012. Retrieved February 12, 2011.
  6. 1 2 3 "United and Continental Announce Merger of Equals to Create World-Class Global Airline". United Continental Merger.com. May 3, 2010. Archived from the original on May 6, 2010. Retrieved October 21, 2013.
  7. ↑ "Investor Relations – News". United Continental Holdings, Inc. Archived from the original on July 9, 2012. Retrieved November 30, 2011.
  8. ↑ Peterson, Kyle (November 30, 2011). "United gets FAA single operating certificate". Reuters . London. Archived from the original on January 2, 2016.
  9. ↑ Rucinski, Tracy; Shivdas, Sanjana (June 27, 2019). "United Continental changes name to United Airlines Holdings Inc". Reuters .
  10. ↑ "United stands ready to merge". Chicago Tribune. Archived from the original on April 16, 2008. Retrieved July 25, 2012.
  11. ↑ "Continental Abandons Merger Talks With United". The New York Times . April 28, 2008. Retrieved May 26, 2010.
  12. ↑ "Continental to Join Star Alliance". Continental Airlines. June 19, 2008. Archived from the original on June 28, 2008. Retrieved July 25, 2012.
  13. ↑ "UAL, USAir in very advanced merger talks". MSNBC. April 28, 2008. Archived from the original on May 6, 2008. Retrieved October 21, 2013.
  14. ↑ Johnsson, Julie (June 20, 2008). "United, Continental join forces". Chicago Tribune. Archived from the original on July 2, 2008. Retrieved June 20, 2008.
  15. ↑ "United and US Airways Said to be in Merger Talks". The New York Times. April 7, 2010. Retrieved April 7, 2010.
  16. ↑ Reed, Dan (April 22, 2010). "Irked US Airways ends merger talks with United". USA Today. Retrieved May 3, 2010.
  17. ↑ "Love is in the air". The Economist . May 6, 2010.
  18. 1 2 "United and Continental Airlines to merge". BBC News. May 3, 2010. Retrieved May 3, 2010.
  19. ↑ "World's Most Comprehensive Network". United Continental Merger. Archived from the original on May 6, 2010. Retrieved October 21, 2013.
  20. ↑ "United, Continental create world's biggest airline". The Sydney Morning Herald . May 4, 2010. Retrieved May 3, 2010.
  21. ↑ "EU approves United-Continental merger". Associated Press. Retrieved April 3, 2011.[ dead link ]
  22. ↑ Mouawad, Jad (August 27, 2010). "United-Continental Merger Clears Federal Hurdle". The New York Times.
  23. ↑ "Investor Relations – News". United Continental Holdings, Inc. Archived from the original on July 24, 2011. Retrieved July 25, 2012.
  24. ↑ "Continental Airlines". Continental.com. Archived from the original on September 16, 2011. Retrieved July 25, 2012.
  25. ↑ Freed, Joshua (November 29, 2011). "Pilots: United gets single operating certificate". Yahoo! News. Retrieved July 25, 2012.
  26. ↑ "Fortune 500 Companies 2018: Who Made the List". Fortune. Archived from the original on January 15, 2019. Retrieved November 10, 2018.
  27. ↑ "United Airlines Annual Report 2011". United Airlines. Retrieved October 20, 2023.
  28. ↑ "United Airlines Annual Report 2012". United Airlines. Retrieved October 20, 2023.
  29. ↑ "United Airlines Annual Report 2013". United Airlines. Retrieved October 20, 2023.
  30. ↑ "United Airlines Annual Report 2014". United Airlines. Retrieved October 20, 2023.
  31. ↑ "United Airlines Annual Report 2015". United Airlines. Retrieved October 20, 2023.
  32. ↑ "United Airlines Annual Report 2016". United Airlines. Retrieved October 20, 2023.
  33. ↑ "United Airlines Annual Report 2017". United Airlines. Retrieved October 20, 2023.
  34. ↑ "United Airlines Annual Report 2018". United Airlines. Retrieved October 20, 2023.
  35. ↑ "United Airlines Annual Report 2019". United Airlines. Retrieved October 20, 2023.
  36. ↑ "United Airlines Annual Report 2020". United Airlines. Retrieved October 20, 2023.
  37. ↑ "United Airlines Annual Report 2021". United Airlines. Retrieved October 20, 2023.
  38. ↑ "United Airlines Annual Report 2022". United Airlines. Retrieved October 20, 2023.
  39. ↑ "United, Continental Show Off New Livery". AOL Travel News. August 12, 2010. Archived from the original on October 19, 2010. Retrieved February 12, 2011.
  40. ↑ Horton, Will (December 20, 2010). "Here's what United's CEO thinks of the carrier's new livery". Flight International . Archived from the original on December 24, 2010. Retrieved February 12, 2011.
  41. ↑ "Boeing 747 Debuts in New United Livery". United Continental Holdings. February 24, 2011. Archived from the original on July 17, 2012.
  42. ↑ "United Airlines launches new campaign from Kaplan Thaler/New York". Chicago Sun-Times. Archived from the original on July 16, 2011. Retrieved March 11, 2011.
  43. ↑ "Company Overview". Chicago: United Airlines Holdings. Retrieved February 23, 2022.
  44. ↑ "Company Overview". Chicago: United Airlines Holdings.
  45. ↑ Investor Day (PDF) (Report). Chicago: United Airlines Holdings. November 15, 2016. Archived from the original (PDF) on November 17, 2016. Retrieved November 16, 2016.

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