Here are 1-3 brief analogies for United Airlines:

• Like Delta Air Lines or American Airlines.
• Like a Marriott or Hilton for air travel.

• Passenger Air Transportation: Providing scheduled air travel for individuals and groups across domestic and international routes.
• Air Cargo Transportation: Transporting freight, mail, and other goods through its aircraft cargo holds for businesses and individuals worldwide.

• Boeing (BA)
• GE Aerospace (GE)
• RTX Corporation (RTX)
• Sabre Corporation (SABR)
• Airbus (AIR.PA)

Scott Kirby - Chief Executive Officer

Scott Kirby was appointed Chief Executive Officer of United Airlines in 2020, having previously served as the company's President from 2016 to 2020. In his role as President, he oversaw United's operations, marketing, sales, alliances, network planning, and revenue management. Before joining United, Kirby held presidential roles at other major airlines, including President of American Airlines from 2013 to 2016 and President of US Airways from 2006 to 2013. His career in the airline industry spans three decades. He began his career at the Pentagon and in the technology sector. Kirby holds bachelor's degrees in computer science and operations research from the U.S. Air Force Academy and a Master of Science in operations research from George Washington University.

Michael Leskinen - Executive Vice President and Chief Financial Officer

Michael Leskinen assumed the role of Executive Vice President and Chief Financial Officer at United Airlines in September 2023. He joined United in 2018 as managing director of Investor Relations and was promoted to vice president of Corporate Development and Investor Relations in 2019. In 2021, Leskinen also took on the position of President of United Airlines Ventures (UAV), a corporate venture capital fund focused on sustainable aviation. Prior to his tenure at United, he worked as an executive director at J.P. Morgan Asset Management from 2013 to 2017 and at Oppenheimer Funds from 2009 to 2013, with both roles concentrating on the aerospace sector. Notably, he led the team that successfully secured $6.8 billion in financing for United in 2020, utilizing the MileagePlus loyalty program as collateral, which provided critical financial flexibility during the pandemic. Leskinen holds a Bachelor's degree in finance from Arizona State University and an MBA from the University of Pennsylvania's Wharton School.

Brett J. Hart - President

Brett J. Hart was appointed President of United Airlines in May 2020. In this capacity, he is responsible for United's global operations, including flight, technical, and network operations, as well as inflight services and safety. He also oversees the company's external functions, such as government affairs, corporate communications, legal, and environmental sustainability, and manages human resources and labor relations. Hart served as interim CEO for six months in late 2015 and 2016. Before joining United in 2010, his career included roles as Executive Vice President, General Counsel, and Corporate Secretary at Sara Lee Corporation, a partner at Sonnenschein Nath & Rosenthal, and Special Assistant to the General Counsel at the U.S. Department of Treasury. He earned his Bachelor of Arts from the University of Michigan and a Juris Doctor from the University of Chicago Law School.

Andrew Nocella - Executive Vice President and Chief Commercial Officer

Andrew Nocella serves as United's Executive Vice President and Chief Commercial Officer, a position he has held since 2017. In this role, he oversees all aspects of United's commercial strategies and product design, encompassing cargo, United Express, pricing and revenue management, network and commercial strategy, sales, alliances, marketing functions, and MileagePlus. Before joining United, Nocella accumulated over 20 years of industry experience, holding various leadership positions at American Airlines and US Airways. This included serving as senior vice president of network planning, alliance and sales at American Airlines and senior vice president of marketing and planning at US Airways. He also spent time in route planning for Continental Airlines. Nocella earned a Bachelor of Science in decision sciences from George Mason University.

Toby Enqvist - Global Chief Operations Officer

Toby Enqvist is the Global Chief Operations Officer for United Airlines. He is responsible for corporate safety, airport operations, flight operations, inflight operations, network operations center, operations performance, corporate real estate, and customer solutions. Enqvist has over 25 years of experience in the airline industry, having joined Continental Airlines in 1996. Throughout his career at Continental and United, he has held numerous leadership positions within operations and finance. Prior to his current role, he served as Executive Vice President and Chief Customer Officer. Enqvist, a native of Sweden, received his bachelor's degree in business administration from Ouachita Baptist University and an MBA from Southern Methodist University.

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Passenger Air Transport

Air Cargo Services

United Airlines (UAL) is anticipated to drive future revenue growth over the next two to three years through several key strategies and market trends:

1. Expansion of Premium Products and Services: United Airlines is actively focusing on increasing its premium offerings, including Polaris, Premium Plus, and domestic first-class cabins. The company plans to grow its premium capacity more than its total capacity, with significant year-over-year revenue increases expected in these segments. Investments in enhanced customer experience, such as seatback screens, improved food options, and reliable in-flight connectivity, are also crucial in winning and retaining brand-loyal customers and differentiating United from competitors.
2. Growth of the MileagePlus Loyalty Program: The MileagePlus loyalty program is a significant driver of income through customer retention and partnerships with credit card companies, contributing a steady cash flow. United aims to double the loyalty program's EBITDA by the end of the decade.
3. Strategic Capacity Management and International Network Focus: United is implementing strategic capacity adjustments, including rationalizing domestic capacity and optimizing international routes, to improve profitability. The airline's hub-and-spoke system is particularly focused on international and long-haul travel, especially across the Pacific, positioning it to benefit from global travel recovery trends.
4. Continued Strong Demand in High-Margin Segments: Robust travel demand, particularly in business-class and international travel, is expected to continue fueling revenue growth. United's focus on these high-margin segments positions it well to capitalize on the ongoing recovery in global travel demand and a projected increase in corporate traffic volumes.
5. Enhancements in Customer Experience and Operational Efficiency: Investments in operational efficiencies and technology, such as improved stability at key hubs like Newark and the installation of Starlink Wi-Fi, are expected to enhance the overall customer experience. These improvements, alongside a focus on maintaining a low cancel rate, contribute to customer satisfaction and loyalty, indirectly supporting revenue growth and delivering more sustainable profits under the "United Next" plan.

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

• United Airlines announced a $1.5 billion share buyback program in October 2024, marking its first such program since it was put on hold in 2020 due to the COVID-19 pandemic.
• This program is expected to continue through the end of 2025 and is planned to be funded by free cash flow.
• As of the second quarter of 2025, United had repurchased approximately $0.6 billion of shares year-to-date.

Share Issuance

• In April 2020, United Airlines announced an underwritten public offering of 39,250,000 shares of its common stock, aiming to raise $1 billion to mitigate the financial impact of the coronavirus pandemic.

Outbound Investments

• United Airlines Ventures (UAV), established in 2021, actively invests in early-stage startups that focus on innovative technologies poised to shape the future of aviation and travel.
• Notable investments made by UAV include companies in sectors such as Aerospace Tech, Air Pollution Management Tech, and Electric Vehicles, with specific mentions of Eve, Heart Aerospace, and NEXT Renewable Fuels.
• The company made a strategic investment in Twelve, a low-carbon fuels company producing sustainable aviation fuel (SAF), in May 2025. Additionally, in August 2025, UAV invested in Astro Mechanica, an aerospace startup developing advanced supersonic aircraft technology.

Capital Expenditures

• United Airlines' capital expenditures averaged $4.288 billion annually for fiscal years 2020 to 2024, peaking at $7.171 billion in December 2023.
• For fiscal year 2025, the company projects its adjusted total capital expenditure to be below $6.5 billion.
• The primary focus of capital expenditures is fleet modernization and expansion under the "United Next" strategy, which includes orders for over 500 narrow-body and 150 wide-body Boeing 787 Dreamliner jets since 2021, and the retrofitting of 100% of its mainline, narrow-body fleet with new interiors, seatback entertainment, and faster Wi-Fi, expected to be completed by 2025.