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UAL United Airlines

United Airlines Holdings, Inc. is a holding company, which offers satellite based Wi-Fi, including on long-haul overseas routes. It transports people and cargo throughout North America and to destinations in Asia, Europe, Africa, the Pacific, the Middle East and Latin America. UAL, through United and its regional carriers. The company was founded on December 30, 1968 and is headquartered in Chicago, IL.

Company profile

Ticker
UAL
Exchange
Website
CEO
Jeffery Smisek
Employees
Incorporated
Location
Fiscal year end
Former names
UAL CORP /DE/, United Continental Holdings, Inc.
SEC CIK
IRS number
362675207

UAL stock data

(
)

Calendar

28 Feb 21
21 Apr 21
31 Dec 21
Quarter (USD)
Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 21 Shapiro Edward Share Units Common Stock Grant Aquire A No No 0 597.41 0 7,525.65
31 Mar 21 Isaacson Walter Share Units Common Stock Grant Aquire A No No 0 630 0 7,802.04
31 Mar 21 Ward Laysha Share Units Common Stock Grant Aquire A No No 0 168.96 0 168.96
11 Mar 21 Jonathan Roitman Common Stock Sell Dispose S No No 53.78 5,000 268.9K 3,760
11 Mar 21 Andrew P Nocella Common Stock Sell Dispose S No No 54.56 11,000 600.16K 11,024

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

64.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 548 469 +16.8%
Opened positions 133 68 +95.6%
Closed positions 54 70 -22.9%
Increased positions 168 167 +0.6%
Reduced positions 146 136 +7.4%
13F shares
Current Prev Q Change
Total value 8.85B 6.22B +42.3%
Total shares 204.64M 177.82M +15.1%
Total puts 28.76M 22.34M +28.8%
Total calls 21.19M 19.26M +10.0%
Total put/call ratio 1.4 1.2 +17.0%
Largest owners
Shares Value Change
Vanguard 29.98M $1.3B +2.1%
Primecap Management 28.45M $1.23B -2.9%
BLK Blackrock 15.53M $671.58M -3.6%
STT State Street 9.3M $402.4M +5.6%
Par Capital Management 7.06M $305.14M -7.6%
Par Investment Partners 7.06M $305.14M NEW
FMR 6.87M $297M +197.2%
GROW U.S. Global Investors 6.17M $267.04M +29.7%
Geode Capital Management 4.97M $214.46M +1.9%
Altimeter Capital Management 4.8M $207.74M 0.0%
Largest transactions
Shares Bought/sold Change
Par Investment Partners 7.06M +7.06M NEW
FMR 6.87M +4.56M +197.2%
Two Sigma Advisers 3.46M +3.44M +13164.8%
Capital World Investors 2.13M +2.13M NEW
FIL 3 -1.94M -100.0%
Two Sigma Investments 2.28M +1.69M +284.1%
Millennium Management 1.59M +1.54M +3064.6%
GROW U.S. Global Investors 6.17M +1.41M +29.7%
Parallax Volatility Advisers 1.24M +1.24M NEW
Susquehanna International 2.83M +1.15M +68.7%

Financial report summary

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Risks
  • COVID-19 has materially disrupted our strategic operating plans in the near-term, and there are risks to our business, operating results and financial condition associated with executing our strategic operating plans in the long-term.
  • Unfavorable economic and political conditions, in the United States and globally, may have a material adverse effect on our business, operating results and financial condition.
  • The global airline industry is highly competitive and susceptible to price discounting and changes in capacity, which could have a material adverse effect on our business, operating results and financial condition.
  • High and/or volatile fuel prices or significant disruptions in the supply of aircraft fuel could have a material adverse impact on the Company's strategic plans, operating results, financial condition and liquidity.
  • The Company relies heavily on technology and automated systems to operate its business and any significant failure or disruption of, or failure to effectively integrate and implement, the technology or these systems could materially harm its business.
  • The Company's business relies extensively on third-party service providers, including certain technology providers. Failure of these parties to perform as expected, or interruptions in the Company's relationships with these providers or their provision of services to the Company, could have a material adverse effect on the Company's business, operating results and financial condition.
  • The Company could experience adverse publicity, harm to its brand, reduced travel demand, potential tort liability and voluntary or mandatory operational restrictions as a result of an accident, catastrophe or incident involving its aircraft or its operations, the aircraft or operations of its regional carriers, the aircraft or operations of its codeshare partners, or the aircraft or operations of another airline, which may result in a material adverse effect on the Company's business, operating results and financial condition.
  • Terrorist attacks, international hostilities or other security events, or the fear of terrorist attacks or hostilities, even if not made directly on the airline industry, could negatively affect the Company and the airline industry.
  • Disruptions to our regional network and United Express flights provided by third-party regional carriers could adversely affect our business, operating results and financial condition.
  • Our significant investments in other airlines, including in other parts of the world, and the commercial relationships that we have with those carriers may not produce the returns or results we expect.
  • Our significant investments in AVH and its affiliates, and the commercial relationships that we have with Avianca may not produce the returns or results we expect.
  • The airline industry may undergo further change with respect to alliances and JBAs or due to consolidations, any of which could have a material adverse effect on the Company.
  • Orders for new aircraft typically must be placed years in advance of scheduled deliveries, and changes in the Company's network strategy over time or other factors outside of the Company's control may make aircraft on order less economic for the Company, result in costs related to modification or termination of aircraft orders or cause the Company to enter into orders for new aircraft on less favorable terms.
  • A majority of the Company's aircraft and certain parts are sourced from single suppliers; therefore, the Company would be materially and adversely affected if it were unable to obtain timely deliveries, additional equipment or support from any of these suppliers.
  • Union disputes, employee strikes or slowdowns, and other labor-related disruptions could adversely affect the Company's operations and could result in increased costs that impair its financial performance.
  • Extended interruptions or disruptions in service at major airports where we operate could have a material adverse impact on our operations.
  • The United Kingdom's withdrawal from the EU may adversely impact our operations in the United Kingdom and elsewhere.
  • The Company's operating results fluctuate due to seasonality and other factors associated with the airline industry, many of which are beyond the Company's control.
  • The Company may never realize the full value of its intangible assets or its long-lived assets causing it to record impairments that may negatively affect its financial condition and operating results.
  • Any damage to our reputation or brand image could adversely affect our business or financial results.
  • The Company's ability to use its net operating loss carryforwards and certain other tax attributes to offset future taxable income for U.S. federal income tax purposes may be significantly limited due to various circumstances, including certain possible future transactions involving the sale or issuance of UAL common stock, or if taxable income does not reach sufficient levels.
  • The airline industry is subject to extensive government regulation, which imposes significant costs and may adversely impact our business, operating results and financial condition.
  • We are subject to many forms of environmental regulation and liability and risks associated with climate change, and may incur substantial costs as a result.
  • Continued restrictions on the use of the Boeing 737 MAX aircraft, and the inability to accept or integrate new aircraft into our fleet as planned, may have a material adverse effect on our business, operating results and financial condition.
  • The Company has a significant amount of financial leverage from fixed obligations and may seek material amounts of additional financial liquidity in the short-term, and insufficient liquidity may have a material adverse effect on the Company's financial condition and business.
  • If we are not able to comply with the covenants in the MileagePlus Financing agreements, our lenders could accelerate the MileagePlus indebtedness, foreclose upon the collateral securing the MileagePlus indebtedness or exercise other remedies, which would have a material adverse effect on our business, results of operations and financial condition.
  • Agreements governing our other debt include financial and other covenants. Failure to comply with these covenants could result in events of default.
  • If we experience changes in, or are unable to retain, our senior management team or other key employees, our operating results could be adversely affected.
  • Current or future litigation and regulatory actions, or failure to comply with the terms of any settlement, order or arrangement relating to these actions, could have a material adverse impact on the Company.
  • Increases in insurance costs or inadequate insurance coverage may materially and adversely impact our business, operating results and financial condition.
Management Discussion
  • Operating Revenue. The table below illustrates the year-over-year percentage change in the Company's operating revenues for the years ended December 31 (in millions, except percentage changes):
  • Passenger revenue decreased $27.8 billion, or 70.2%, in 2020 as compared to 2019, primarily due to the decrease in demand for air travel as a result of the worldwide spread of COVID-19 and the associated shelter-in-place directives and travel restrictions. Earlier in 2020, the Company suspended change fees and effective August 30, 2020, the Company eliminated change fees on all standard Economy and Premium cabin tickets for travel within the 50 U.S. states, Puerto Rico and the U.S. Virgin Islands. Also, in December 2020, the Company eliminated change fees on flights from the U.S. to all international destinations and fees on Basic Economy and all other international travel tickets issued by March 31, 2021. The elimination of change fees and waivers associated with the COVID-19 pandemic resulted in change fee revenue declining $542 million in 2020 as compared to 2019.
  • Cargo revenue increased $469 million, or 39.8%, in 2020 as compared to 2019, primarily due to an increase in cargo-only charter flights with higher yields as a result of increased demand for critical goods during the COVID-19 pandemic.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
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H.S. sophomore Avg
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