United Airlines Holdings, Inc. (UAL): Business Model Canvas [Dec-2025 Updated]

You're looking to understand the engine room of a major carrier, and honestly, United Airlines Holdings, Inc.'s late-2025 model is a masterclass in premium pivot and network defense. They are aggressively funding this with a fleet modernization plan that sees capital expenditures below $6.5 billion for FY2025 upgrades across their 1,050-plus mainline jets, all while leaning hard into their high-margin MileagePlus program. It's not just about moving people anymore; it's about capturing the high-yield traveler. Dive into the nine blocks below to see exactly how their $15.2 billion Q3 passenger revenue is built on strategic partnerships and a $16.3 billion liquidity cushion.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Key Partnerships

You're looking at the backbone of United Airlines Holdings, Inc.'s (UAL) global reach and financial stability, which heavily relies on its external alliances and supplier relationships as of late 2025. These partnerships are critical for network density and high-margin revenue generation.

Star Alliance network for global reach and seamless connectivity

United Airlines Holdings, Inc.'s membership in the Star Alliance is a major component of its international strategy. This partnership gives United access to a vast global network, which, as of early 2025, spanned over 1,300 destinations. This connectivity is key for attracting international travelers who value seamless connections and loyalty program reciprocity. To be fair, the alliance structure is a significant competitive advantage, as Star Alliance generated about 40% more revenue than its closest rivals based on the latest available comparative data.

Transatlantic Joint Venture with Lufthansa Group and Air Canada

The coordinated transatlantic joint venture with Lufthansa Group and Air Canada is a high-yield corridor for United Airlines Holdings, Inc. This coordination involves agreements on flight supply, pricing, and revenue sharing, which is crucial for market management in this profitable region. For the Lufthansa Group, the North Atlantic geographical area represented about a fifth of its revenues between January and September 2025. The partnership is currently working through regulatory authorization to integrate ITA Airways into this structure.

Aircraft manufacturers (Boeing and Airbus) for fleet modernization

United Airlines Holdings, Inc. has an aggressive fleet renewal plan, the 'United Next' strategy, which is heavily dependent on Boeing and Airbus deliveries. As of October 2025, United Airlines Holdings, Inc. operates a mainline fleet of 1,055 aircraft. The airline expects to take delivery of approximately 800 new narrowbody and widebody aircraft between 2023 and the end of 2032. The goal is for 75% of the fleet to be new-generation by 2030. The airline is retiring older jets, planning to retire 21 aircraft during 2025 alone.

Here's a look at the commitments to the primary manufacturers:

The airline took delivery of 81 aircraft in 2025, consisting of 71 narrow-bodies and 10 wide-bodies.

Credit card issuers (e.g., Chase) for the high-margin MileagePlus program

The co-branded credit card relationship with Chase is central to the MileagePlus loyalty program, which is a significant profit center. United Airlines Holdings, Inc. executives have noted they are just beginning to realize the full potential of the loyalty program. The current partnership with the banking partner is set through 2029. Loyalty revenue saw a 12% increase year-over-year in the fourth quarter of 2024.

Recent enhancements to the United Family of Cards from Chase, effective in 2025, offer substantial annual value:

• United Club℠ Cards offer up to $2,000 in total annual value.
• United℠ Explorer Card offers over $800 in total annual value.
• New annual fees for fee-based cards increased, such as the United Quest℠ Card moving to $350 from $250.
• Welcome bonuses for new cardmembers ranged from 80,000 to 125,000 miles through May 7, 2025.
• An expanded collaboration allows eligible United MileagePlus Chase Cardmembers to earn 2 total miles per $1 spent on rent via Bilt, up to $50,000 annually.

Regional carriers (United Express) for feeder routes into hubs

United Express is vital for feeding passengers into United Airlines Holdings, Inc.'s seven hub airports. Operationally, United Express showed improvement in early 2025, recording a record 21 days of 100% flight completion in the first quarter, more than double its previous best. However, one entity named United Express Inc. reported mixed Q3 2025 results, with Total Revenues of $25,000 for the quarter ended March 31, 2025, down from $46,815 in Q3 2024.

Finance: draft 13-week cash view by Friday.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Key Activities

You're managing a massive global operation, so the core of United Airlines Holdings, Inc.'s Key Activities centers on keeping that network moving and modernizing the assets that make it possible. The airline's focus remains squarely on its global hub-and-spoke system, which is heavily weighted toward international and long-haul travel compared to its large US peers. You see this commitment in their hub structure, which includes major operations in San Francisco, Chicago, Houston, Denver, Los Angeles, Newark, and Washington, D.C.. The scale of this operation is evident in the third quarter of 2025, where United Airlines carried more than 48 million customers, the most ever during a single quarter, while flying its largest daily mainline schedule with 2,940 daily flights.

A critical activity supporting this network is executing the United Next fleet modernization strategy. This isn't just about buying new planes; it's about retiring older, less efficient assets while introducing next-generation aircraft to improve the passenger experience. Since 2021, United Airlines has placed orders for over 500 various narrow-body jets and 150 wide-body Boeing 787 Dreamliner jets as part of this strategy. The airline is actively phasing out older models, planning to retire its Boeing 767 fleet by 2030. You'll note that as of October 2025, United Airlines Holdings, Inc. maintains a mainline fleet of over 1,050 aircraft, specifically reported at 1,055 mainline aircraft.

Here's a quick look at the mainline fleet composition as of late 2025, showing where the modernization is focused:

Managing the high-value MileagePlus loyalty program is another central activity, as it drives significant revenue and customer stickiness. Loyalty revenue was a major contributor, growing 9% year-over-year in the third quarter of 2025. In the first quarter of 2025, loyalty revenue specifically grew 9% to reach $1.5 billion. The airline is clearly focused on maximizing this asset, aiming to double profits from the MileagePlus program by 2030. To keep the top-tier members engaged, the requirements for elite status in the 2025 program year increased by an average of 20-25% compared to 2024 levels. For instance, Premier 1K status now requires 28,000 Premier Qualifying Points (PQPs) or 22,000 PQPs plus 60 Premier Qualifying Flights (PQFs).

Finally, United Airlines Holdings, Inc. is actively investing over $1 billion annually in customer experience enhancements across all cabins and classes of service in 2025. This investment covers tangible product improvements like providing power at every seat, expanding clubs, and increasing food offerings by 25%. A key metric showing the impact is that over half of the narrowbody fleet now features the signature interior and upgraded seatback screens, which resulted in a 15-point boost in customer satisfaction with inflight entertainment systems since the third quarter of 2022. The airline plans to continue this capital deployment, with another $1 billion investment planned for 2026.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Key Resources

United Airlines Holdings, Inc. possesses a portfolio of tangible and intangible assets critical to its operations and market position as of late 2025.

The physical asset base includes the largest mainline fleet in the world, reported at 1,055 aircraft as of October 2025.

The airline maintains control over strategically vital hub airports, including Newark, Chicago O'Hare, Houston, and San Francisco.

The MileagePlus loyalty program represents a significant intangible asset. Loyalty revenue increased by 9% year-over-year in the third quarter of 2025. The program's currency is estimated to have a baseline value of 1.2 cents per mile as of December 2025. The program's structure saw the end of the Excursionist Perk on August 21, 2025, and the move to dynamic pricing for upgrade awards starting November 24, 2025.

Financial strength is supported by significant cash reserves, with ending available liquidity reported at $16.3 billion as of September 30, 2025.

Proprietary technology underpins customer interaction and operational efficiency. Over half of the United narrowbody fleet is equipped with the signature interior and seatback screens. The United mobile app features personalized tools for connecting flights, including countdowns and turn-by-turn directions for hub airports. Enhancements to the United app resulted in an 85% digital check-in rate in Q1 2025.

Key fleet statistics as of late 2025 are detailed below:

Third quarter 2025 financial metrics highlight operational performance:

The airline is executing on its technology roadmap, with plans to outfit its entire two-cabin regional fleet with Starlink connectivity by the end of 2025.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Value Propositions

The Value Propositions for United Airlines Holdings, Inc. center on network breadth, product modernization, operational reliability, and a high-value loyalty proposition for frequent flyers.

Extensive global network connecting to over 1,300 destinations

United Airlines Holdings, Inc. offers a vast reach, as outlined by its commitment to connecting to over 1,300 destinations. Operationally, for Summer 2025, the airline is set to operate 800 daily flights to and from 147 international destinations, including 40 nonstop routes no other major U.S. airline serves. The total network size as of 2024 included 383 destinations. This expansion includes adding 8 new cities for Summer 2025, such as Ulaanbaatar, Mongolia, and Dakar, Senegal.

Enhanced premium experience (Polaris, Signature Interior, Starlink Wi-Fi)

Product differentiation is driven by premium cabin enhancements and fleet-wide technology upgrades. The new United signature interiors feature significant in-seat technology upgrades across cabins. United expects to have Starlink on all United aircraft - more than 1,000 planes - over the next several years. Testing for the free Starlink service began in early 2025, with the first mainline aircraft, a Boeing 737-800, expected to enter service with Starlink from October 15, 2025. The regional fleet installation pace reached 50 or more aircraft per month as of September 2025. The high-speed Starlink service offers download speeds between 40 and 220 Mbps and upload speeds of 8 to 25 Mbps.

The seatback screens in the new signature interiors provide concrete visual value:

The airline has nearly 100,000 seatback screens across its fleet, with plans to grow this number. Premium cabin revenue grew 5.6% in Q2 2025.

High operational dependability (best post-pandemic on-time rates in Q2 2025)

Operational execution in the second quarter of 2025 demonstrated improved reliability. United operated its largest-ever quarterly schedule in Q2 of 2025, measured by available seat miles. The consolidated punctuality rate for Q2 2025 reached its highest level in four years. The on-time departure rate hit a five-year high in Q2 2025. United achieved a 100% completion day on April 22, 2025. The on-time percentage hovers around 80-82%, which is significantly better (i.e., 5% or more) than other major U.S. airlines.

Diverse fare options from Basic Economy to premium cabins

United provides a spectrum of fare options to segment customers based on willingness to pay and desired flexibility. The fare structure includes distinct categories for different service levels.

• Basic Economy fare class: N.
• Deep-discounted Economy fare classes: S, T, L, K, G.
• Full-fare Economy classes eligible for instant upgrades: Y, B.
• United Polaris business class fare classes: J, C, D, Z, P.
• United Premium Plus fare classes: O, A, R.

Basic Economy fares (N) are generally not eligible for upgrades.

Strong loyalty program value with flexible earning and redemption

The MileagePlus program remains a core value driver, recognized as the world's best frequent flyer programme in 2025 with a perfect 10.00 score in one industry evaluation. The program offers flexibility in point lifespan and redemption options.

• MileagePlus points are valid for up to 180 months.
• Loyalty revenue grew 8.7% year-over-year in Q2 2025.
• MileagePlus points are valued around 1.2 points per dollar.
• Co-branded credit card sign-ups surged by 45%.
• International Premium Economy upgrades start at 15,000 miles.
• Domestic upgrades from Basic Economy (N) require 25,000 miles.
• Upgrading from a W fare class to Polaris costs 40 PlusPoints.
• Upgrading from a G or S fare class to Polaris costs 80 PlusPoints.

Elite status qualification for 2025 requires higher thresholds, such as 5,000 PQPs and 15 PQFs for Silver, or a PQP-only goal of 6,000 PQPs.

Finance: draft 13-week cash view by Friday.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Customer Relationships

You're looking at how United Airlines Holdings, Inc. (UAL) keeps its customers engaged and satisfied, which is key since their strategy leans heavily on brand loyalty. Honestly, the numbers show they're succeeding by pushing high-yield customers and digital tools.

Automated self-service via the highly-rated United mobile app

Digital interaction is massive for United Airlines Holdings, Inc. (UAL). Nearly 90% of customers engage with the United mobile app on the day of travel. This focus on automation helps with service recovery; about half of passengers who were rebooked in the second quarter of 2025 used United's automated or self-service options. The app's technology, like ConnectionSaver, has saved over 3.3 million customer connections since its launch. Furthermore, a spring beta test of new app features showed that over 350,000 customers used them, achieving a 98% success rate in making their connection.

Dedicated personal assistance for premium and elite status members

The focus on premium customers is clearly paying off financially. In the third quarter of 2025, premium cabin revenue was up 6% year-over-year. For the first quarter of 2025, premium cabin revenue had risen 9.2% year-over-year. This segment is high-yield; premium-class revenue per available seat mile outperformed the main cabin by five points in Q3 2025. Elite status is tied directly to these benefits, but earning it got tougher in 2025, with Premier status requirements increasing by 20% to 25% in Premier Qualifying Flights (PQFs) and Premier Qualifying Points (PQPs).

Here's a look at the PQP headstarts for existing elites at the start of the 2025 program year:

Community building through the MileagePlus loyalty program

The MileagePlus program is a significant revenue driver and community anchor. Loyalty revenue increased more than 9% in the third quarter of 2025, following a 9.4% year-over-year rise in Q1 2025. United Airlines Holdings, Inc. (UAL) executives have signaled big plans, aiming to double profits from its loyalty program by 2030. The value of each point is estimated around 1.2 points per dollar. To sweeten the deal for cardholders, earn rates on co-branded cards were adjusted; for instance, the United Club℠ Card now offers 1 PQP per $15 spent, with a maximum of 28,000 PQPs annually, up from 15,000 PQPs.

MileagePlus members earn miles based on status, which encourages repeat engagement:

• Premier Silver: Earn 7 miles per dollar.
• Premier Gold: Earn 8 miles per dollar.
• Premier Platinum: Earn 9 miles per dollar.
• Premier 1K: Earn 11 miles per dollar.

Proactive communication for operational changes and service recovery

Operational reliability directly impacts customer trust. United Airlines Holdings, Inc. (UAL) delivered its best first-quarter operational performance since 2021 in Q1 2025, cutting its seat cancellation rate in half compared to Q1 2024. For service recovery, the airline uses proactive communication; for example, during weather delays, they began texting customers live radar maps in July 2025. This transparency helps manage expectations when disruptions occur, which is crucial since Newark Liberty International Airport (EWR), representing roughly 20% of United's total system capacity and domestic revenue, faced significant restrictions in Q2 2025.

Corporate sales teams managing large business travel accounts

The corporate segment remains a focus, though the mix is shifting toward premium leisure. Business revenue was up 7.4% in the first quarter of 2025. United Airlines Holdings, Inc. (UAL) achieved its all-time highest business revenue ticketing week during the week ending October 5, 2025, with three of the top five best weeks occurring in September 2025. Despite this, the Chief Commercial Officer noted that the percentage of business travel is a much smaller share of United's business than it was in 2019. Business travel demand saw a double-digit acceleration starting in early July 2025.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Channels

You're looking at how United Airlines Holdings, Inc. (UAL) gets its product-seats on planes-into the hands of customers as of late 2025. The strategy heavily favors digital control, but the physical touchpoints remain critical for premium and last-minute sales.

Direct sales via United Airlines website and mobile app (primary channel)

The digital storefront is where United Airlines wants the majority of transactions to happen. This channel allows for direct control over pricing, ancillary attachment, and customer data capture, which feeds directly into loyalty efforts. Enhancements to the United app, for instance, drove an 85% digital check-in rate in the first quarter of 2025. This focus on digital self-service is key, especially as a record 73% of airline tickets were booked directly across the industry in early 2025, a trend United Airlines is definitely leading within its segment. You can even purchase a one-time United Club pass for $59 directly via the mobile app.

The airline's investment in its mobile app is significant, as CEO Scott Kirby noted its role in winning and retaining brand-loyal customers.

Airport ticket counters and customer service desks

While digital dominates, the physical presence at over 150 international destinations and numerous domestic hubs is essential for service recovery, complex itinerary changes, and high-touch customer segments. These desks serve as the final point of sale for many last-minute or highly modified bookings. You still see agents at these counters helping customers who need immediate, in-person resolution.

Online Travel Agencies (OTAs) and Global Distribution Systems (GDS)

United Airlines continues to manage its presence on third-party platforms, balancing reach with the desire to own the customer relationship. In May 2025, OTA-issued trips actually increased by 8% year-over-year, showing that price-sensitive or self-service bookings still flow through these channels. To maintain control over ancillary sales on these platforms, United Airlines and Travelport formed a strategic partnership where Travelport receives early access to United's NDC-enabled extras.

Corporate booking tools and dedicated business portals

This high-margin segment is a core focus, though its growth has moderated recently. Flown business revenue grew 7% year-over-year in the first quarter of 2025, down from 15% growth in the fourth quarter of 2024. Contracted business sales for all future travel were only up 'low single-digits' year-over-year as of Q1 2025. United is actively integrating its Online Booking Tool (OBT) extras, like using United Jetstream amenity funds as payment, into GDS platforms like Travelport+ and its own Deem OBT platform to streamline the corporate booking experience.

United Club and Polaris Lounge network

The premium lounge network acts as a tangible value-add channel, particularly for high-yield and loyalty program members. As of late 2025, United Airlines operates a network that includes more than 45 United Club locations and five United Polaris® lounges. The airline expanded this offering in 2025, opening a new United Club Fly in Houston and a significantly expanded United Club in Denver measuring over 33,000 square feet. Furthermore, design work began on the seventh United Polaris lounge, slated for Denver.

Here's a quick look at the quantitative scale of these channels and related performance metrics:

The airline is definitely leaning into its digital and premium physical assets to drive revenue, especially given that loyalty revenue grew 9% in Q3 2025.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Customer Segments

High-yield business travelers seeking premium service and flexibility.

This segment showed strong recovery, with business travel revenue up 7.4% year-over-year in the first quarter of 2025. For the second quarter of 2025, business demand notched a double-digit acceleration compared to the second quarter of 2024. Premium cabin revenue growth was 9.2% year-over-year in the first quarter of 2025, though it grew by 5.6% in the second quarter and 6% in the third quarter of 2025. United Airlines is focusing on retaining these high-value customers through network improvements and service enhancements.

Affluent international leisure travelers utilizing long-haul routes.

International travel remained robust, with Pacific Revenue per Available Seat Mile (RASM) increasing by 8.5% year-over-year in the first quarter of 2025, and Atlantic RASM up 4.7%. United Airlines is flying its largest international schedule in company history, with over 400 roundtrip international flights per day to 142 different destinations as of the third quarter of 2025. However, unit revenue pressure was noted in the third quarter, with international Passenger Revenue per Available Seat Mile (PRASM) falling 7.1%.

Brand-loyal MileagePlus members across all service classes.

The loyalty ecosystem is a key focus, with loyalty-related revenue growing by 9.4% year-over-year in the first quarter of 2025, and loyalty revenue rising 9% in the third quarter of 2025. The value of a MileagePlus point is around 1.2 points per dollar. Elite status qualification metrics for 2025 increased Premier Qualifying Points (PQPs) and Premier Qualifying Flights (PQFs) by 20% to 25% across levels. United Airlines has a stated goal to double profits from its MileagePlus program by 2030.

Price-sensitive domestic leisure travelers (Basic Economy segment).

The Basic Economy offering continues to be a significant volume driver. Revenue from this segment was up 7.6% year-over-year in the first quarter of 2025, with a 4% revenue rise reported in the third quarter of 2025. As of late 2024, Basic Economy flyers accounted for approximately 16% of United Airlines' domestic passengers. The airline expects to average 145 seats per departure in North America by 2027, up from 104 in 2019, facilitating more of this lower-fare inventory.

Corporate clients with large-volume travel contracts.

This group is closely aligned with the high-yield business traveler segment, showing strong booking trends in 2025. The airline is capturing this demand through its network strength and operational reliability, which is critical for corporate travel managers. The following table summarizes key revenue performance indicators for relevant customer-facing segments through the first three quarters of 2025.

United Airlines is also focusing on retaining its most valuable flyers through tiered benefits, which directly relates to segment retention. The structure for earning elite status in 2025 required higher Premier Qualifying Points (PQPs).

• Premier Silver New PQP Requirement: 5,000 PQPs or 15 PQFs and 5,000 PQPs.
• Premier Gold New PQP Requirement: 10,000 PQPs or 30 PQFs and 10,000 PQPs.
• Premier Platinum New PQP Requirement: 15,000 PQPs or 45 PQFs and 15,000 PQPs.
• Premier 1K New PQP Requirement: 22,000 PQPs or 60 PQFs and 22,000 PQPs.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Cost Structure

You're looking at the major drains on United Airlines Holdings, Inc.'s operating cash flow, which is key to understanding their pricing power and margin sustainability. The cost structure for United Airlines Holdings, Inc. is heavily weighted toward fixed and semi-variable costs inherent to operating a global airline network.

The most significant variable cost component remains fuel. For the third quarter of 2025, the average fuel price United Airlines Holdings, Inc. paid was $2.43 per gallon. This figure directly impacts the bottom line, though hedging strategies aim to smooth out volatility. To give you a snapshot of the scale of their financial commitments as of the end of Q3 2025, here are some key figures:

Fixed costs are substantial, driven by the long-term nature of their assets. Aircraft ownership, whether through purchase or lease, represents a massive fixed commitment. Similarly, securing slots and gates at major hubs like Newark, which accounts for over 20% of the company's capacity, locks in significant airport lease expenses for years.

Labor costs are another huge line item, especially with pilot and flight attendant contracts. You saw evidence of this in the Q3 2025 reporting, where the timing of union contracts caused a shift in expenses. Specifically, United Airlines Holdings, Inc. noted a reduction of 1 point of labor expense moving from the third quarter of 2025 into the fourth quarter of 2025 due to contract timing. This shows how sensitive reported quarterly costs can be to the cadence of these major agreements.

Capital expenditures are being managed for fleet modernization. For the full fiscal year 2025, United Airlines Holdings, Inc. projected its adjusted total capital expenditure to fall below $6.5 billion. This spending is directed toward fleet upgrades and customer experience investments, like installing Starlink Wi-Fi across the fleet.

The debt load is significant, reflecting past financing needs and current obligations. As of the close of the third quarter of 2025, total debt, finance lease obligations, and other financial liabilities stood at $25.4 billion. The company did make a move to simplify this structure by prepaying the remaining $1.5 billion balance of the MileagePlus bonds during the quarter.

Here's a quick look at the cost structure elements that are managed:

• High fixed costs from aircraft ownership and airport leases.
• Variable fuel costs tied to the $2.43 per gallon Q3 2025 average.
• Significant labor expenses influenced by union contract timing.
• Capital expenditures projected below $6.5 billion for FY2025.
• Interest expense tied to $25.4 billion in total liabilities.

Finance: draft 13-week cash view by Friday.

United Airlines Holdings, Inc. (UAL) - Canvas Business Model: Revenue Streams

You're looking at the core ways United Airlines Holdings, Inc. (UAL) brings in cash as of late 2025. The business model is heavily reliant on flying people, but the real margin story is in the premium and loyalty segments. Honestly, the numbers from the third quarter of 2025 really highlight where the focus is right now.

Passenger ticket sales remain the main driver, of course. Total operating revenue for United Airlines Holdings, Inc. in the third quarter of 2025 hit $15.2 billion. This massive top line is supported by demand across the board, even as they manage unit revenue pressures. For instance, revenue from Basic Economy, which caters to the budget-conscious traveler, still managed to rise 4% year-over-year in Q3 2025. That shows the breadth of their passenger base.

Loyalty program revenue is a strategic powerhouse for United Airlines Holdings, Inc. MileagePlus revenue increased over 9% year-over-year in Q3 2025. To be fair, the co-brand remuneration part of that grew even faster, climbing 15% year-over-year. Management is definitely leaning into this, projecting they will double the loyalty program EBITDA by the end of the decade. This program is a key part of their brand-loyal strategy.

Premium cabin revenue is another critical growth lever. This segment rose 6% year-over-year in the third quarter of 2025. What's more telling is that premium-class revenue per available seat mile (TRASM) outperformed the main cabin by five points. This outperformance is exactly what drives margin accretion for United Airlines Holdings, Inc. as they invest heavily in products like United Polaris.

Ancillary revenue streams are essential for filling out the total take. These fees come from things you might not think of as core tickets, but they add up significantly. You're looking at:

• Baggage fees, which are a consistent source of cash flow.
• Seat selection charges, especially for preferred seating.
• Revenue from upgrades to premium products.

Cargo and third-party business services revenue provides diversification away from pure passenger demand. In Q3 2025, cargo revenue specifically saw a lift, increasing 3% year-over-year. This shows the utility of their global network beyond just passenger seats.

Here's a quick snapshot of the key revenue performance indicators from the third quarter of 2025:

The commitment to enhancing these revenue streams is clear in the capital allocation. United Airlines Holdings, Inc. is on track to spend over $1 billion on customer experience improvements in 2025, with plans for another investment exceeding $1 billion in 2026. They are targeting fleetwide Starlink Wi-Fi installation completion by 2027. That spending is meant to secure the brand-loyal customer base that is currently driving the premium and loyalty revenue success.