Debt and Interest Rates - The company has $8.5 billion in variable rate debt, with a projected increase in interest expense of $64 million for a 100 basis point increase in rates [280]. - A 100 basis point increase in interest rates would result in an increase in the company's interest income of approximately $144 million during 2025 [281]. - The company has $5.3 billion of loans from non-U.S. entities that could be affected by changes in tax laws [280]. - The company manages its debt structure and foreign exchange exposure to control financial risks and maintain long-term financial flexibility [279]. - The company does not foresee significant changes in its strategies to manage market risk in the near future [279]. Revenue and Income - Total operating revenue for 2024 reached $57,063 million, a 6.3% increase from $53,717 million in 2023 [319]. - Passenger revenue increased to $51,829 million in 2024, up 5.7% from $49,046 million in 2023 [319]. - Net income for 2024 was $3,149 million, representing a 20.2% increase compared to $2,618 million in 2023 [319]. - Earnings per share (EPS) for 2024 were $9.58, up from $7.98 in 2023, reflecting a 20% increase [319]. - Operating income improved to $5,099 million in 2024, compared to $4,214 million in 2023, reflecting a growth of 21% [331]. Operating Expenses - Total operating expenses rose to $51,967 million in 2024, a 4.9% increase from $49,506 million in 2023 [319]. - Salaries and related costs increased to $16,678 million in 2024, up from $14,787 million in 2023, reflecting a rise of 12.8% [331]. - Operating expenses for 2024 totaled $51,964 million, an increase of 5.9% from $49,503 million in 2023 [331]. Cash and Assets - Cash and cash equivalents at the end of 2024 were $8,946 million, an increase from $6,334 million at the end of 2023 [326]. - Total assets increased to $74,083 million in 2024, up from $71,104 million in 2023 [324]. - Net cash provided by operating activities for 2024 was $9,445 million, compared to $6,911 million in 2023, marking a 36.6% increase [326]. Stockholder's Equity - Total stockholder's equity grew to $12,644 million in 2024, compared to $9,294 million in 2023, representing a growth of 36.5% [336]. - Retained earnings increased to $9,487 million in 2024, up from $6,336 million in 2023 [336]. Comprehensive Income - The company reported a total comprehensive income of $3,399 million for 2024, compared to $2,381 million in 2023 [321]. - Other comprehensive income for 2024 was $250 million, compared to a loss of $237 million in 2023 [333]. Fuel and Currency Exposure - A one-dollar change in the price of a barrel of aircraft fuel would change the company's projected fuel expense by approximately $112 million in 2025 [283]. - A uniform 1% strengthening of the U.S. dollar would decrease pre-tax income by approximately $14 million for the year ending December 31, 2025 [285]. - The company does not currently hedge fuel price volatility but regularly reviews its policy based on market conditions [283]. Intangible Assets and Impairment - The carrying value of the company's China route authority intangible asset is $1.0 billion, subject to annual impairment testing [297]. - The fair value estimate of the China intangible asset is sensitive to significant assumptions such as forecasted revenues and discount rates, which could trigger impairment charges if adversely changed [298]. Employee and Pension Obligations - The accumulated benefit obligation for pension benefits was $3,752 million as of December 31, 2024, down from $3,910 million in 2023 [415]. - The projected benefit obligation at the end of 2024 was $4,315 million, compared to $4,550 million at the end of 2023 [415]. - The net periodic benefit cost for pension benefits in 2024 was $108 million, compared to $102 million in 2023, indicating a rise of about 5.9% [417]. Capital Expenditures and Investments - Capital expenditures for 2024 were $5,615 million, a decrease from $7,171 million in 2023 [339]. - United's firm commitments for aircraft and related capital expenditures total approximately $54.4 billion through 2029 [456]. Special Charges and Nonoperating Items - The company recorded total operating special charges of $112 million in 2024, compared to $949 million in 2023 [468]. - Nonoperating special charges and unrealized losses on investments totaled $327 million in 2024, compared to a gain of $16 million in 2023 [468].

United Airlines (UAL) , a Chicago-based airline heavyweight, looks highly attractive from a valuation standpoint. With a forward price-to-sales (P/S) ratio of 0.51, UAL stock trades at a significant discount to industry levels, the S&P 500, and rival Delta Air Lines (DAL) . UAL’s P/S F12M Vs. Industry, S&P 500 & DALImage Source: Zacks Investment ResearchUAL has a Value Score of A.Now, the question is whether it is worth buying the stock at current prices. Let us delve deeper to find out.UAL Stock Likely to ...

Core Insights - United Airlines announced an investment in Heirloom, a direct air capture (DAC) company, through the UAV Sustainable Flight Fund, enhancing its portfolio of decarbonization strategies [1][3] - The UAV Sustainable Flight Fund has over $200 million in commitments from various corporate partners, aimed at supporting startups focused on decarbonizing air travel [4] - Heirloom's technology utilizes limestone to capture CO2 from the atmosphere, positioning it as a low-cost solution for carbon dioxide removal [2][3] Investment Details - The UAV Sustainable Flight Fund has secured the right to purchase up to 500,000 tons of carbon dioxide removal, which can be used for sustainable aviation fuel production or permanent underground storage [1] - This marks United's third investment in carbon capture, specifically focusing on a company that commercializes direct air capture technology [3] Company Background - Heirloom, founded in 2020, operates North America's first commercial DAC facility in Tracy, California, and is involved in Project Cypress, which is eligible for up to $600 million in government funding [5] - The DAC technology developed by Heirloom is designed to significantly reduce CO2 emissions from aviation fuel and address residual emissions, contributing to the goal of net-zero aviation [3] Industry Context - The UAV Sustainable Flight Fund is a pioneering investment vehicle aimed at leveraging cross-industry support to foster innovation in decarbonizing air travel [4] - The investment aligns with United's commitment to achieving net-zero emissions by 2050, reflecting a broader industry trend towards sustainable aviation practices [3]

United Airlines (UAL -6.44%) stock has increased by 148% over the last year, but that doesn't mean it isn't still a great value opportunity. On the contrary, the stock still looks excellent, and many trends continue to favor it.Here are five reasons why United Airlines could be an excellent stock for your portfolio.1. End markets are well positionedThe airline entered 2025 in great shape. The corporate traveler is coming back (business revenue increased 16% year over year in the fourth quarter of 2024), wit ...

United Airlines reported a drop in government employee travel post-Trump inauguration.Layoffs and buyouts led by DOGE are hitting federal travel.Government employee travel makes up 2% of the company's business, United's CEO said.The CEO of United Airlines said that government employee travel "has fallen off" since President Donald Trump's inauguration. Government travel makes up 2% of United's business, said Mike Leskinen at a Barclays conference on Wednesday.United made almost $52 billion in total passenge ...

United Airlines says travel demand has been resilient lately — except from the U.S. government.Government travel "has fallen off here post-inauguration," United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts. Jobless claims have ...

United Airlines Holdings, Inc. (NASDAQ:UAL) Barclays 42nd Annual Industrial Select Conference February 19, 2025 11:35 AM ET Company Participants Kristina Edwards – Investor Relations Michael Leskinen – Executive Vice President and Chief Financial Officer Mike Leskinen – Chief Financial Officer Conference Call Participants Brandon Oglenski – Barclays Kristina Edwards Brandon, I am going to just give a quick legal disclaimer. Today's discussion may contain forward-looking statements, which represent United's ...

Could investing in an airline stock set you up for life? It's an interesting question because, based on history, you'd have to be highly optimistic to even consider it. The airlines haven't traditionally generated a rate of return sufficient to cover the cost of their capital, and they've been subject to extraneous events -- such as terrorist attacks, wars, COVID-19, and even just good old-fashioned recessions -- that have challenged many airlines' ability to continue as a going concern.So what might make i ...

United Airlines is restarting service from New York and Newark, New Jersey, to Tel Aviv next month, and says it is "the first U.S. airline to resume service this year." The announcement comes on the same day Israeli Prime Minister Benjamin Netanyahu is meeting with President Donald Trump at the White House. United's daily flights to Israel resume on March 15, "with a second daily flight planned to begin March 29," a press release from the airline said.  "This resumption follows a detailed assessment of oper ...

It's not Nvidia. Instead, it's an old-economy transportation stock in United Airlines (UAL 1.81%). At the time of this writing, the stock is up 168% over the last 12 months, beating out Nvidia and other high-profile technology names. At this point, investors might think the stock should be pausing in its run-up to take a breather. However, that's not how Wall Street sees it. Analysts have recently upgraded their price targets on the stock, including one at Morgan Stanley who has a $140 target on it, which w ...