United Airlines is set to open its biggest airport lounge this week, which it says is the largest in the Americas, as airlines continue to plow money into the facilities for high-spending customers.
The 54,000-square-foot lounge is opening Thursday at George Bush Intercontinental Airport's Terminal B in Houston, part of an overhaul of the facility that includes 22 gates for mainline aircraft.
The airport, with more than 500 departures a day, is United's main connecting hub for flights to and from Latin America.
The new club can seat 800 people and features an outdoor terrace for plane-spotting as well as two full-service bars and buffets.
The lounge, part of United's $2.6 billion investment at the airport's Terminal B, shows how airlines are putting more money into larger spaces for premium-travel demand to attract the growing ranks of elite frequent flyers, co-branded credit card holders and customers just willing to spend more to fly.
American Airlines earlier this month said it is planning its largest-ever lounge at its Charlotte Douglas International Airport hub in North Carolina. Delta Air Lines has expanded both its popular Delta Sky Clubs and its top-tier Delta One Lounges.
Southwest Airlines is building its first-ever network of airport lounges, which are tied to its credit card partner, Chase. Last week, the carrier unveiled mock-ups of the lounges, which it is calling Icon. And JetBlue Airways opened lounges in New York and Boston in the past year.
Read more CNBC airline newsWhy airfare could rise even more, but airline profits won’tBudget airline king Bill Franke warms to premium upgradesCompanies spurn airlines’ cheapest business class ticketsUnited’s next decision: What to do with all those Boeing 737 Max 10 seats it ordered years agoRecord heat, crowds drive offseason boom in international travel
United Airlines ve čtvrtletí končícím v září 2026 vykázala upravený zisk 2,54 USD na akcii a tržby ve výši 17,88 mld. USD, čímž zaostala za očekáváním trhu.
United Airlines (UAL - Free Report) came out with quarterly earnings of $2.54 per share, missing the Zacks Consensus Estimate of $2.6 per share. This compares to earnings of $2.78 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -2.31%. A quarter ago, it was expected that this airline would post earnings of $1.92 per share when it actually produced earnings of $1.99, delivering a surprise of +3.65%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
United, which belongs to the Zacks Transportation - Airline industry, posted revenues of $17.88 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.2%. This compares to year-ago revenues of $15.23 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
United shares have lost about 14.5% since the beginning of the year versus the S&P 500's gain of 12.4%.
What's Next for United?While United has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for United was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.75 on $18.4 billion in revenues for the coming quarter and $7.87 on $68.03 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Airline is currently in the bottom 7% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, JetBlue Airways (JBLU - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on October 27.
This airline is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of -30%. The consensus EPS estimate for the quarter has been revised 46.7% lower over the last 30 days to the current level.
JetBlue Airways' revenues are expected to be $2.82 billion, up 21.5% from the year-ago quarter.
United Airlines snížila výhled upraveného zisku na rok 2026 na maximálně 7,22 USD na akcii kvůli dražšímu palivu, přestože poptávka po letecké přepravě zůstává silná.
United Airlines is slashing its profit forecast for the year as fuel costs continue to bite, but the carrier said passengers keep booking.
United said Tuesday that it expects to earn between 50 cents and $1.50 a share on an adjusted basis in the fourth quarter, well below the $1.76 a share Wall Street analysts expected. At the high end of that range, it would bring United's 2026 adjusted earnings to no more than $7.22 per share. In mid-July, United said it was expecting full-year earnings of $9 to $11 a share.
The carrier expects to pay an average of $4.80 a gallon for fuel in the fourth quarter, up from an average price of $3.90 a gallon in the third.
A surge in fuel prices this year has added billions of dollars to airlines' costs, eating into profits, despite strong demand, and driving up airfares.
Here is what United Airlines reported for the quarter that ended Sept. 30 compared with what Wall Street was expecting, based on estimates compiled by LSEG:
Earnings per share: $2.54 adjusted vs. $2.57 expectedRevenue: $17.88 billion vs. $17.9 billion expectedUnited's third-quarter net income rose 8.5% from a year earlier to $1.03 billion, or $3.14 a share. During the same period last year its net income totaled $949 million, or $2.90 a share.
"Our employees met the challenge of our ever-changing environment and our results prove the resilience of focusing on building a brand-loyal airline for customers," United CEO Scott Kirby said in an earnings release.
United's fuel bill rose close to 62% in the quarter from a year earlier to $4.84 billion.
Revenue for the three months ended Sept. 30 rose 17.4% from a year earlier to $17.88 billion, compared with $15.23 billion the year before.
Domestic passenger unit revenue rose 14.5% from a year earlier, while international unit revenue was up 17.4%, a sign of higher fares. Passengers continue to book, United said, with passenger counts up more than 2% from last year.
Adjusting for one-time items, United reported net income of $833 million or $2.54 a share.
Read more CNBC airline newsWhy airfare could rise even more, but airline profits won’tBudget airline king Bill Franke warms to premium upgradesCompanies spurn airlines’ cheapest business class ticketsUnited’s next decision: What to do with all those Boeing 737 Max 10 seats it ordered years agoRecord heat, crowds drive offseason boom in international travel
United Airlines spustila nástroj Starlink WiFi Tracker, který až tři dny před odletem ukáže dostupnost internetu. Wi‑Fi Starlink má 639 letadel, což představuje přibližně 43 % flotily.
United Airlines' tracker shows it has Starlink on less than 3% of its wide-body airplanes. Massimo Insabato/Archivio Massimo Insabato/Mondadori Portfolio via Getty Images If you're flying with United Airlines to capitalize on Starlink, it's now much easier to know whether your flight will include the fast, free internet service.
The airline released a tool on Thursday called the Starlink WiFi Tracker. You can enter your flight number up to 3 days before departure to check its Starlink availability.
This isn't infallible, though, as the airline might switch which plane it uses for your flight. However, United says the tool includes updates made in real time for such last-minute changes.
United already used texts, emails, and its app to notify passengers if their flight was scheduled to have Starlink, but the new tool lets you check for last-minute changes.
It also tracks the progress of Starlink installation across the fleet.
As of Thursday morning, 639 aircraft, or about 43% of United's fleet, are equipped with the service.
That includes all of its regional airplanes, operated under the United Express brand, and about a third of its other narrow-body airplanes — like the Airbus A321 and Boeing 737. However, Starlink is only on six of its 248 wide-body airplanes, which operate long-haul flights.
United said it is installing Starlink on about 20 aircraft a week and plans to complete installations by the end of 2027.
Its tool also shows the percentage of daily flights departing from each of its seven hubs that are equipped with Starlink. Chicago O'Hare leads the way at 54%, with San Francisco's 36% at the bottom.
Nearly half the airline's daily departures are equipped with Starlink, United said.
Starlink has become a notable advantage for United since its main rivals don't have it. American Airlines plans to install Starlink starting next year, while Delta Air Lines has tapped Amazon Leo.
United is trying to win over new customers by launching an offer that matches travelers' loyalty status on Delta or American. The offer said, "Don't keep buffering: switch to United and get the fastest WiFi in the sky."
Thousands of customers have signed up within two weeks, United said. It added that status match applications are up 275% compared to before this campaign.
And now, it's also extending the offer for another week.
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Pete Syme You're currently following this author! Click to unsubscribe from email alerts.
Pete Syme is an aviation reporter for Business Insider, based in London.He writes about all things related to the industry, from aviation safety and CEO interviews to route reveals and airplane tours. Pete also uses data for industry analyses and to visualize breaking news events.Before joining Business Insider in 2022, he graduated with an MA in Newspaper Journalism from City, University of London, and a BA in English from the University of Exeter.
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United Airlines v roce 2027 zruší možnost získat status na základě počtu letových segmentů; k dosažení nejvyššího statusu Premier 1K bude nově potřeba 32 000 kvalifikačních bodů namísto 28 000.
United Airlines is getting rid of one path to achieve elite status in 2027 and making its top tier harder to reach.
The Chicago-based airline is removing the ability for MileagePlus members to earn status partially based on flight segments flown in a calendar year for 2027. Instead, starting Jan. 1, United will only consider the number of points members earn based on Premier qualifying points earned from eligible flight spending, award travel and eligible United credit card spending.
United announced the change Tuesday in emails to MileagePlus members and on its website. The change aims to simplify how customers earn Premier status, according to the email obtained by CNBC that United sent to members.
Previously, members could gain status in the lowest elite tier, Premier Silver, with a combination of 15 flight segments and 5,000 points earned in a year, or with 6,000 points. Now, customers will only be able to achieve the status through points at the 6,000 point threshold.
The number of Premier qualifying points it will take for members to reach the Premier Gold and Platinum tiers through points will also stay the same as the previous points-only option. However, to reach United's highest rewards tier, Premier 1K, members now need 32,000 qualifying points, up from 28,000 in 2026.
Flyers earn one Premier qualifying point, or PQP, per dollar spent on United base fares and upgrades, and for every 100 miles they redeem for travel on United flights. United Chase cardholders also earn points when they spend money with their card.
MileagePlus members will still have to take at least four flights on United or United Express jets in a year to be eligible for Premier status.
In an interview with travel website The Points Guy, United's President of MileagePlus Jarad Fisher called the flight segments metric an "old relic," saying that the airline "thought it made more sense for them to have one consistent metric ... that they could focus on across the board between their flight activity, their engagement in the airline."
United also announced Tuesday that United cardholders who have Premier status will get a head start by automatically receiving 5% of the points needed to reach the status level they earned the previous year when a new year begins.
United earlier this year overhauled the way travelers earn miles to reward customers holding its credit cards. The carrier also slashed earnings for basic economy flights, following earlier changes to the same practice by American Airlines and Delta Air Lines. United previously upped the thresholds required to earn Premier status in 2024 for the 2025 qualification year.
United Airlines očekává za čtvrtletí končící v září 2026 zisk na akcii ve výši 2,68 USD, což představuje meziroční pokles o 3,6 %, při tržbách 17,84 miliardy USD, meziročně vyšších o 17,2 %.
United Airlines (UAL - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on October 20, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis airline is expected to post quarterly earnings of $2.68 per share in its upcoming report, which represents a year-over-year change of -3.6%.
Revenues are expected to be $17.84 billion, up 17.2% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 44.35% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for United?For United, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.17%.
On the other hand, the stock currently carries a Zacks Rank of #5.
So, this combination makes it difficult to conclusively predict that United will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that United would post earnings of $1.92 per share when it actually produced earnings of $1.99, delivering a surprise of +3.65%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
United doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
United prostřednictvím DISH přidala kanál TBS, takže cestující na více než 200 letadlech vybavených Starlinkem mohou živě sledovat téměř všechna utkání play-off MLB.
United flyers can catch nearly every MLB postseason game – including the ALCS, NLCS and World Series – live onboard more than 900 flights per day with Starlink-enabled seatback screens
Since the live streaming service launched last month, passengers have watched more than 170,000 hours of live television including professional and college football games, reality show competitions and awards shows
In September more than 5.4 million people - about a third of United's customers - had Starlink on their flight and they're loving the experience: satisfaction scores are more than 40 points higher on Starlink-equipped planes than those with other Wi-Fi service
, /PRNewswire/ -- Baseball fans can now catch nearly every playoff game live onboard select United flights with Starlink-enabled seatback screens. The airline just added TBS to its onboard streaming lineup from DISH, which also includes live shows from ABC, CBS, NBC, FOX, FS1, ESPN, ESPN2, NFL Network and TNF on Prime Video. It's now available on more than 200 planes – about 900 flights per day – and since the feature launched onboard last month, passengers have watched more than 170,000 hours of live television.
United and DISH add Playoff Baseball to the Live Streaming Lineup on Airplanes with Starlink-Equipped Seatback Screens Starlink is the fastest, most reliable Wi-Fi in the sky and United is installing it at a rapid rate – in September, more than 5.4 million people - about a third of United's customers - had Starlink on their flight and they're loving the experience: satisfaction scores are more than 40 points higher on Starlink-equipped planes than those with other Wi-Fi service.
Starlink is free for MileagePlus® members in every class of service, and the airline expects to complete installations in 2027.
"The speed and reliability of Starlink's inflight Wi-Fi is unmatched, which means sports fans can book United flights with confidence knowing they won't miss a play on flights with Starlink-enabled seatback screens," said Andrew Nocella, United's Chief Commercial Officer. "Quality inflight Wi-Fi is more important than ever to travelers, and because Starlink gives people the same – or better – connectivity in the sky than they can get at home, it's a reason to choose United."
United is also offering a flexible and straightforward status match offer for Delta and American Airlines loyalty program members so they can experience Starlink for themselves. To qualify, customers must meet the spend requirement on United flights that are both purchased and flown within the 90-day period. Qualifying customers enjoy United Premier® status benefits through January 31, 2028. More details can be found at United.com/switchtobetterwifi.
Live streaming service from DISH is just the latest example of how United is using Starlink to redefine the inflight entertainment experience. In August, United partnered with ESPN to host a first-of-its kind live Fantasy Football Draft from 30,000 feet where ESPN analyst Tyler Fulghum made his picks live from the sky during the two-hour broadcast. And earlier this summer, United customers could stream the biggest soccer tournament in the world onboard Starlink-powered domestic flights.
Starlink is just one way United is investing nose to tail in its customer experience. The airline continues to install seatback screens across its fleet – up to 1,000 aircraft are expected to have seatback screens before the end of 2027 – and is rolling out new airplanes with 27-inch, 4K OLED seatback screens, the largest among U.S. carriers. Passengers can now access more than 2,500 hours of premium entertainment content onboard including Apple TV, HBO Max, A24 and Spotify.
About United
At United, Good Leads The Way. With U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers and is now the largest airline in the world as measured by available seat miles. For more about how to join the United team, please visit www.united.com/careers and more information about the company is at www.united.com. United Airlines Holdings, Inc., the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol "UAL".
United Airlines spustila status match pro držitele elitního statusu u Delta Air Lines a American Airlines a nabízí jim 90 dní statusu u United. Pro udržení do 31. ledna 2028 musí během těchto 90 dnů absolvovat let a utratit stanovenou částku na letech United mainline nebo regionálních.
United Airlines wants you to defect from your airline.
The carrier is in the middle of an unusually pointed status-match campaign to woo travelers who have earned a spot in elite frequent flyer tiers with Delta Air Lines and American Airlines by offering similar treatment at United.
Here's how it works: Travelers with any tier of elite status on Delta or American will be granted United status for 90 days.
To keep it through Jan. 31, 2028, they'll have to take a flight and spend a certain amount on United mainline or regional flights within those 90 days.
For example, if a traveler has the lowest level Delta Medallion status, silver, or the same on American, which is gold, they would have to spend $1,500 on United in the roughly three months.
To get a status match of United's 1K, its highest level before invitation-only Global Services, the person would have to spend $7,000.
Delta and American have their own status matches for a host of other airlines, but United's call-out of rivals and social media campaign shows how heated the battle for big-spending customers has become, said Henry Harteveldt, founder of travel consulting firm Atmosphere Research Group.
"This is war, airline style," he said. "It's very rare for an airline to be as blatant as United is being" with Delta and American.
Airlines have been adding new lounges, extra premium seats and more international routes to lure those high-spenders.
Read more about United, Delta and AmericanAmerican Airlines to add seatback screens, bigger first class in race to catch up to Delta and UnitedCompanies spurn airlines’ cheapest business class tickets‘Bring ‘em on’: Delta wants United’s crown over the Pacific, tooUnited CEO brushes off airline mergers after American rejection: ‘There’s nothing’How Delta made itself America's luxury airline — and what United wants to do about itIn this push, United is using its new Starlink Wi-Fi from SpaceX as a hook for customers looking to potentially defect from their airlines.
The carrier is in the process of outfitting its aircraft with the satellite Wi-Fi, which is free for frequent flyer program members, though it is not available across the fleet yet, and customers still have to pay at least $8 per flight with current providers. American Airlines also signed with Starlink for hundreds of its narrow-body jets, while Delta is planning to change the provider of its free, in-flight Wi-Fi to Amazon's Leo.
"Our long-term strategic partnership with Amazon Leo will provide high-bandwidth connectivity while creating opportunities to bring their broad ecosystem of entertainment and digital services to the skies," Delta said in a statement.
American, where United's CEO Scott Kirby worked until a decade ago, didn't immediately comment.
United Airlines said it installed Starlink on over 560 of its airplanes as of mid-September. Gary Hershorn/Getty Images United Airlines is trying to pry away its rivals' loyal fliers with a not-so-subtle jab at their lack of Starlink.
"Don't keep buffering: switch to United and get the fastest WiFi in the sky," reads its offer to match travelers' loyalty status on Delta Air Lines or American Airlines.
Early on Thursday, United's X account replied to a dozen posts from users who were discussing the offer or complaining about Delta's in-flight WiFi.
The offer is open until October 15, and customers will have 90 days to spend or fly with United to maintain their status level through the end of January 2028. It applies to members with elite status, which starts with American Gold or Delta Silver Medallion.
United was the first US airline to announce a deal with Elon Musk's Starlink, back in 2024. As of mid-September, Starlink was equipped on about a third of its fleet, including mainline aircraft and regional ones operated by United Express subsidiaries.
Why cheap bus travel is disappearing in America
It hopes that all its airplanes will be equipped with the ultra-fast satellite WiFi service by the end of next year.
Although American signed on with Starlink in May, the service is not yet available as the airline plans to start rolling it out next year on narrow-body airplanes.
American also announced a loyalty-status match program late on Wednesday. It's offered to travelers with status on Southwest, JetBlue, Delta, and United, and lasts for four months.
However, switching your airline of choice may not be practical for everyone.
While the Big Three airlines compete fiercely in major cities, many travelers may find one of them offers more routes — or perhaps the only ones — from their local airport. For example, Delta has a larger presence in the South thanks to its enormous hub in Atlanta.
Unlike its rivals, Delta has passed on Starlink in favor of Amazon Leo. Leo similarly uses a constellation of satellites in low Earth orbit for internet connection, but its only other airline customer is JetBlue. Delta plans to start installing the service on 500 aircraft in 2028.
Delta's decision has repeatedly drawn Musk's ire.
On Tuesday, he posted on X saying Delta CEO Ed Bastian will "lose his job over this." The world's richest person also responded with a laughing emoji to one user who joked that AI agents could be isolated from crawling the internet by giving them Delta's in-flight WiFi.
It was at least the third instance of Musk bashing Delta since it announced the Amazon Leo deal in May.
At the time, Bastian told Bloomberg that Amazon's service has an "improved bandwidth with a much lower price point than what we've ever seen from Starlink."
He also highlighted Amazon's retail and video-gaming offerings, and an airline spokesperson cited the potential for a "broader partnership" beyond in-flight WiFi.
Delta and United did not immediately respond to requests for comment.
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Pete Syme You're currently following this author! Click to unsubscribe from email alerts.
Pete Syme is an aviation reporter for Business Insider, based in London.He writes about all things related to the industry, from aviation safety and CEO interviews to route reveals and airplane tours. Pete also uses data for industry analyses and to visualize breaking news events.Before joining Business Insider in 2022, he graduated with an MA in Newspaper Journalism from City, University of London, and a BA in English from the University of Exeter.
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Key Takeaways United Airlines' earnings estimates have fallen for Q3 2026, full-year 2026 and 2027. UAL's Q2 2026 fuel expense surged 84% to $5.1B, with nearly $6B in added 2026 fuel costs expected. United Airlines is trimming flights as elevated fuel costs make some marginal routes uneconomic. United Airlines (UAL - Free Report) is currently mired in multiple headwinds, which, we believe, have made it an unimpressive investment option.
Let’s delve deeper.
UAL: Key Risks to WatchSouthward Earnings Estimate Revision: The Zacks Consensus Estimate for third-quarter 2026 earnings has moved 8.7% south in the past 60 days. For the current year, the consensus estimate for earnings has been revised 8.5% lower over the same period. Even for 2027, the earnings estimate has moved south. These unfavorable estimate revisions suggest brokers lack confidence in the stock.
Image Source: Zacks Investment Research
Dim Price Performance: The company’s price trend reveals that its shares have lost significantly so far this year, underperforming the Zacks Transportation sector’s decline.
YTD Price ComparisonImage Source: Zacks Investment Research
Weak Zacks Rank: UAL currently carries a Zacks Rank #5 (Strong Sell).
Other Headwinds: Labor and other nonfuel expenses remain a margin constraint. Salaries and related costs rose 6.2% year over year in second-quarter 2026, while CASM-ex increased 6.1% as labor agreements and lower capacity raised unit costs. Management expects third-quarter CASM-ex to be the 2026 peak, but reduced flying keeps unit-cost pressure elevated until larger-gauge aircraft begin helping efficiency in 2027.
United Airlines is trimming flying when fuel makes marginal routes uneconomic. Management said in September 2026 that some December flights would be removed and further first-quarter 2027 adjustments were possible if fuel stayed elevated. These reductions protect cash generation but can limit near-term revenue capture while fixed costs are spread across fewer seat miles.
Jet fuel remains the largest near-term earnings risk. Second-quarter 2026 fuel expense increased 84% year over year to $5.1 billion, and United Airlines expected nearly $6 billion of added 2026 fuel expense compared with its initial outlook. In September, management said fuel had risen rapidly again and that full recovery through fares occurs with a lag because some fourth-quarter tickets were already booked.
Bearish Industry Rank: The industry to which UAL belongs currently has a Zacks Industry Rank of 233 (out of 247). Such an unfavorable rank places it in the bottom 6% of Zacks industries. Studies show that 50% of a stock price movement is directly related to the performance of the industry group it belongs to.
In fact, a robust stock in a weak industry is likely to underperform an ordinary stock in a strong group. Therefore, considering the industry’s performance becomes imperative.
Stocks to ConsiderInvestors interested in the same sector may consider better-ranked stocks like Expeditors International of Washington, Inc. (EXPD - Free Report) and Seanergy Maritime Holdings (SHIP - Free Report) .
Expeditors currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EXPD has an expected earnings growth rate of 28.5% for 2026. The company has an encouraging earnings surprise history. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 17.2%.
Seanergy Maritime Holdings currently carries a Zacks Rank #2 (Buy).
SHIP has an expected earnings growth rate of more than 100% for the current year. The company also has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.
United Airlines začne tento týden na opěradlových obrazovkách se Starlinkem vysílat živé přenosy zápasů amerického fotbalu z ABC, CBS, NBC, FOX, FS1, ESPN, ESPN2, NFL Network a TNF na Prime Video. Služba poběží na více než 200 letadlech, tedy na zhruba 700 letech denně.
United flyers won't miss a play this football season, with live broadcasts from ABC, CBS, NBC, FOX, FS1, ESPN, ESPN2, NFL Network and TNF on Prime Video on Starlink-enabled seatback screens starting this week through the big game in February
Starlink is the fastest, most reliable WiFi in the sky and live TV streaming on seatback screens is now on board more than 220 mainline aircraft for customers in every class of service – up to 700 flights per day – with plans to reach 700 mainline planes early next year
United sponsors nine NFL teams and expects to operate 200+ team charter flights this season for 11 teams.
, /PRNewswire/ -- United Airlines customers won't miss a play this football season, thanks to a new agreement between the airline and DISH. Starting this week, travelers can catch live professional and college football games right on their Starlink-enabled seatback screen.
United Teams Up with DISH to Broadcast Professional and College Football Games Live on Starlink-Enabled Seatback Screens Starlink is the fastest, most reliable Wi-Fi in the sky and United is installing Starlink at a rapid rate - and, fans can now watch live broadcasts from ABC, CBS, NBC, FOX, FS1, ESPN, ESPN2, NFL Network and TNF on Prime Video on more than 200 Starlink-equipped airplanes – about 700 of flights per day. The service will be available on domestic flights through the big game in February, and United expects to have Starlink on nearly 700 airplanes by then.
Starlink is free for MileagePlus members in every class of service, and the airline expects to complete installations before the end of 2027.
This new entertainment offering builds on the airline's long history of supporting professional football, sponsoring nine professional football teams in New York, Chicago, San Francisco, Houston, Washington D.C., Denver, Kansas City, Cleveland and Nashville and operating more than 200 team charter flights for 11 teams this season.
"Starlink opens a whole new world of features and benefits for our customers, regardless of where they sit on the plane – now football fans don't have to schedule their flights around game day," said Andrew Nocella, United's Executive Vice President and Chief Commercial Officer. "Instead, they can watch their favorite team on seatback and also make changes to their fantasy roster, text or live chat with friends, or even stream different games on their phone, laptop or tablet, just like they would do at home."
United's new agreement represents a collaborative effort with DISH, utilizing its OnStream platform, to deliver content to next-generation aviation environments.
"With United, we are helping to rewrite the inflight playbook," said Amir Ahmed, Executive Vice President, Video Services, DISH. "Whether you're sitting on your couch or cruising at 35,000 feet, you should be able to watch your favorite teams play. By pairing DISH's OnStream platform with United's Starlink connectivity, we're keeping fans connected to the moments that matter most."
Starlink Sets a New Standard for Live Entertainment in Flight
This new service is just the latest example of how United is using Starlink to redefine the inflight entertainment experience. Last month, United partnered with ESPN to host a first-of-its kind live Fantasy Football Draft from 30,000 feet where ESPN analyst Tyler Fulghum made his picks live from the sky during the two-hour broadcast. And earlier this summer, United customers could stream the biggest soccer tournament in the world onboard Starlink-powered domestic flights.
Starlink is now active on more than 560 United mainline and United Express® aircraft and the airline has already flown more than 31 million passengers on Starlink-powered aircraft across more than 464,000 flights, powering 14.2 million devices.
Starlink is just one way United is investing nose to tail in its customer experience. The airline continues to install seatback screens across its fleet – up to 1,000 aircraft before the end of 2027 – and is rolling out new airplanes with 27-inch, 4K OLED seatback screens, the largest among U.S. carriers. Passengers can now access more than 2,500 hours of premium entertainment content including Apple TV, HBO Max, A24 and Spotify.
Football Flies United
Separately, for the second year in a row, United is celebrating the intersection of football, fashion and travel for its Football Flies United advertising campaign. Featuring New York Giants head coach John Harbaugh, Giants players Abdul Carter and Arvell Reese, and Chicago Bears players Rome Odunze, Luther Burden III and Colston Loveland, the campaign is built around a simple idea: how you arrive matters. Whether stepping off a plane for game day or arriving for an important business meeting, traveling well can help people feel refreshed, confident and ready to work – no matter what comes next.
"When our players step off the plane, we want them to feel rested, confident and ready to compete. Football Flies United celebrates the idea that when you travel well and feel your best, you're going to perform at your best," said Coach Harbaugh. "And for football fans traveling this season, they can bring that same game-day energy with them knowing they won't have to miss a play – they can watch their favorite teams live on United flights all season long."
The campaign is featured across prominent out-of-home locations in Chicago and New York, including Wrigleyville and Penn Station, with additional content rolling out across social media throughout the NFL season. The teams and locations were chosen to highlight United's roots as Chicago's hometown airline, and its global reach with Newark as a gateway to more than 90 international destinations.
The airline will also charter flights for the Washington Commanders, New Orleans Saints and San Francisco 49ers for their international games in London, Paris and Mexico City.
About United
At United, Good Leads The Way. With U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers and is now the largest airline in the world as measured by available seat miles. For more about how to join the United team, please visit www.united.com/careers and more information about the company is at www.united.com. United Airlines Holdings, Inc., the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol "UAL".
United Airlines uvedla, že poptávka zůstává odolná i při vyšších cenách paliva a umožňuje jí zvyšovat ceny letenek. CFO zároveň řekl, že ve 4. čtvrtletí jsou rezervace „mimořádně silné“.
2 "Cheap for a Reason" Airline Stocks That May Be Worth the RiskUnited Airlines NASDAQ: UAL Chief Financial Officer Mike Leskinen said demand has remained resilient, allowing the carrier and the broader airline industry to raise fares to offset higher fuel costs while continuing to invest in a more differentiated customer experience.
Speaking at an investor conference, Leskinen said the airline industry is becoming less commoditized as travelers place greater value on reliability, product quality, premium amenities and inflight connectivity. He said consumers are increasingly willing to spend on experiences, supporting demand across both premium and economy cabins.
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Delta vs. United: Which Airline Is Better Built for Higher Fuel Costs?“We are not flying to maximize market share,” Leskinen said. “We’re flying to maximize profitability and free cash generation.”
Demand and fuel-price response Leskinen said United has seen “very little evidence” of demand destruction despite rising jet fuel prices. Fourth-quarter bookings have remained “tremendously strong,” he said, while premium-cabin demand has continued to perform well. Corporate travel volumes have also improved, though they remain 4.5 percentage points below the company’s pre-pandemic baseline.
Iran Ceasefire or Not, These 3 Companies Could WinEconomy demand and pricing have strengthened as well, according to Leskinen. He attributed that improvement to United’s efforts to enhance the travel experience throughout the aircraft, rather than concentrating investments only in premium cabins.
The CFO said higher fuel costs are passed through to customers with a lag, since tickets already booked cannot be repriced. United had about 35% of its fourth-quarter tickets booked at the time of his remarks. He said nothing had changed in the company’s view that it can recover 100% of higher fuel costs over time, subject to that lag.
United has also adjusted its schedule as fuel prices increased, removing some lower-margin routes that no longer meet its profitability threshold. Leskinen said the airline expects to continue making such decisions, including eliminating certain December flights and potentially further changes in 2027 if fuel remains elevated.
Third-quarter cost pressure is expected to represent the peak for unit costs excluding fuel, Leskinen said. United expects those costs to decline in the fourth quarter and remain lower in 2027. The company continues to target core cost per available seat mile, excluding fuel, growth of 2% to 3% in 2027. Premium products and network differentiation Leskinen said United sees room for further pricing gains among airlines that offer a differentiated service. He stressed that fare increases must be supported by investment in a better product, citing improved reliability, customer segmentation, airport lounges and Starlink internet connectivity.
United’s introduction of basic Polaris fares has produced higher-than-expected buy-up rates to standard Polaris, he said. The results indicate that customers value access to the airline’s lounges and are willing to pay for a complete premium experience.
“Segmentation, in the end, it helps us drive yield, but it’s customers paying for what they want,” Leskinen said.
The company also expects its Airbus A321XLR aircraft to support high-margin international service to smaller cities in Western Europe. Leskinen said the aircraft’s lower trip costs and Polaris suite configuration will enable United to offer direct East Coast-to-Europe service to destinations that may not support larger widebody aircraft.
He described the strategy as a way to avoid competing on identical routes with identical products, which he said can lead to commodity-like returns.
Loyalty, free cash flow and margin goals Leskinen said United’s co-branded credit card program with Chase has substantial room for growth. He cited second-quarter increases of 22% in new co-brand accounts, 14% in card spending and 9% in MileagePlus enrollments. Changes to the card program have encouraged more United customers to place the airline’s card “at the front of the wallet,” he said.
The current agreement is in its “sunset phase,” Leskinen said, but he expects a future agreement and product enhancements to help expand card acquisitions and spending economics over time. He said the loyalty ecosystem represents “hundreds of millions of dollars” in potential upside.
On profitability, Leskinen said United has “eyes on 10% margin plus” if fuel prices stabilize. He said the company does not necessarily need lower fuel prices, but needs more stability. Over the longer term, he reiterated a belief that United has a path toward mid-teens margins, though he said that would take years to achieve.
Leskinen also reaffirmed United’s target to increase free-cash-flow conversion from roughly 50% toward 75%. Excluding growth capital expenditures, he said conversion would exceed 100%.
“Healthy companies generate free cash flow,” Leskinen said. “The best measure of earnings quality is free cash conversion.”
Air traffic control and future mobility Leskinen said limits on scheduled operations at capacity-constrained airports such as Newark and Chicago can improve the customer experience and United’s profitability, particularly at connecting hubs. He said matching flight schedules to an airport’s physical capacity can reduce preventable delays.
He also discussed United’s investments in electric vertical takeoff and landing aircraft companies, including Archer and Eve. Leskinen said eVTOL aircraft could eventually offer customers quicker, more predictable trips to congested airports such as Newark and JFK, although adoption will likely begin in less congested airspace because of air traffic control challenges.
Leskinen said United’s enthusiasm for the technology has increased as commercialization approaches, while emphasizing that integrating eVTOL operations into congested airspace will require further air traffic control modernization.
About United Airlines (NASDAQ:UAL)United Airlines Holdings, Inc NASDAQ: UAL is the parent company of United Airlines, Inc, a major U.S. airline headquartered in Chicago, Illinois. United provides scheduled air transportation for passengers and cargo, serving destinations across the United States and connecting North America with international markets throughout Latin America, Europe, Asia, Africa and the Middle East.
The company operates a broad network through hubs including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco and Washington, DC Its services include economy, premium-economy and business-class travel, as well as air cargo transportation.
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United Airlines oznámily největší mezinárodní expanzi ve své historii: přidají 10 nových zahraničních měst a tři nové linky v Evropě a Asii. Nové spoje mají začít už v březnu 2027.
Key Takeaways United Airlines is adding 10 international cities and three new routes across Europe and Asia.United Airlines plans new Osaka, Milan and Paris services, plus a San Francisco-Tel Aviv return.United Airlines' A321XLR will support 2027 growth with new routes and upgraded cabin features. In a bid to strengthen its network and expand globally, United Airlines Holdings, Inc. (UAL - Free Report) recently announced multiple major initiatives in its business. These include the addition of 10 new international cities and three new routes across Europe and Asia, marking UAL’s largest international network expansion in its history and the launch of the newest international aircraft in its fleet, the 'Born to Explore' A321XLR.
The aforesaid announcement was made public at an event at Newark Liberty International Airport, which was attended by UAL’s chief executive officer (CEO), Scott Kirby; chief commercial officer, Andrew Nocella and senior vice president of Global Network Planning and Alliances, Patrick Quayle.
UAL’s CEO, Scott Kirby, stated, "The creative and strategic way we've expanded our international network since the pandemic has made all the difference, not only for our customers and employees, but also as a way to differentiate United and build a brand focused on customers. We offer the most flights across the Atlantic and Pacific and Newark is the best Atlantic gateway in the country - so far this year, it's the most on-time airport in the New York City area. We're going to keep building on that momentum as we welcome the new A321XLR to our fleet and continue to elevate the travel experience for every customer who chooses United."
UAL’s Global Expansion Plans & New Fleet DetailsUAL plans to start flying to 10 new international cities as early as March 2027. United Airlines' 10 new destinations include San Francisco (SFO) – Okinawa (OKA); Washington, D.C. (IAD) – Toulouse (TLS); Newark (EWR) – Luxembourg (LUX); Newark (EWR) – Ljubljana (LJU); Newark (EWR) – Olbia (OLB); Newark (EWR) – Catania (CTA); Newark (EWR) – Ibiza (IBZ); Newark (EWR) – Valencia (VLC); Newark (EWR) – Marseille (MRS); and Newark (EWR) – Terceira (TER). These 10 new international cities
UAL is also offering new international routes to destinations it already serves from three of its U.S. hubs. UAL plans to offer new daily service from Los Angeles to Osaka, Japan, thereby positioning itself as the only airline to serve Osaka from two continental U.S. cities. This route is slated to start on March 27, 2027, and is expected to boost UAL’s existing service from San Francisco and Guam.
From Washington, D.C., UAL plans to fly three times a week on a nonstop basis to Milan. Effective from May 28, 2027, this route will become the only airline to connect the nation's capital to Milan nonstop.
From Denver, UAL plans to fly on a daily nonstop basis to Paris, starting from May 27, 2027. This new route shall enhance UAL’s existing service from Newark/New York, Washington Dulles, Chicago and San Francisco.
UAL is also gearing up to resume services from San Francisco to Tel Aviv on March 28.
Additionally, UAL plans to relaunch the new destinations for summer 2027 (which were added in summer 2026) with flights from Newark/New York to Split, Croatia; Bari, Italy; Glasgow, Scotland; and Santiago de Compostela, Spain.
UAL’s 'Born to Explore' Airbus A321XLR is expected to amplify its international growth in summer 2027 with service to new destinations in Ibiza, Luxembourg, Marseille, Toulouse and Valencia.
Airbus A321XLR’s onboard travel experience comes with features like a new United Polaris suite with a privacy door, free Starlink Wi-Fi for MileagePlus members, 4K OLED screens with Bluetooth connectivity, a snack bar in United Economy and the new Economy Plus seats with extra elbow room and access to a shared table across an open middle seat. The aircraft also offers 32 premium seats (which include 20 United Polaris suites and 12 United Premium Plus seats). The number reflects 16 more premium seats than the Boeing 757-200.
To ConcludeUnited Airlines has been constantly working hard to expand internationally. Since 2017, UAL has added 58 international destinations to its route map. The airline now flies to more than 160 international destinations. UAL carries a Zacks Rank #3 (Hold).
Given that United Airlines’ goal is to be able to meet every traveler’s need, be it a business trip, a dream honeymoon, a bucket-list adventure, or a trip to hometown to see family, the latest announcements seem to be a strategic business step on UAL’s part.
Stocks to ConsiderInvestors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. (EXPD - Free Report) and Seanergy Maritime Holdings (SHIP - Free Report) .
Expeditors currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EXPD has an expected earnings growth rate of 28.6% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 17.15%.
Seanergy Maritime Holdings currently sports a Zacks Rank #1.
SHIP has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.
United chce dál rozšiřovat přítomnost na JFK i v zahraničí, zatímco Scott Kirby odmítá akviziční plány s menšími aerolinkami, jako je JetBlue. Současně sází na AI pro zlepšení služeb a spolehlivosti.
NEWARK, New Jersey — Scott Kirby says he doesn't believe in revenge.
"Everyone thinks I do, but no, I don't," said the United Airlines CEO, whom American Airlines fired 10 years ago, when he was president of that carrier. "I compete aggressively."
United announced it had hired him as president on Aug. 29, 2016, a blink after American disclosed his departure. Now, Kirby is running the second-most profitable U.S. airline after Delta Air Lines. And his former employer, American, is a distant third of the big, more-than-century-old, U.S. carriers, though it's working to ramp up revenue through a host of upgrades, including bringing back seatback screens.
Kirby floated the idea of megamergers with both Delta and American in the past year, combinations that would bring together some of the biggest airlines in the world. He's so far been rebuffed, and antitrust experts were skeptical about the possibility.
He's thinking bigger than he has before as the industry faces ever-higher costs, limited airport infrastructure and a population that's ready to shell out more to fly — often in the expensive seats — to the next "it" destination.
Eyeing JFK from EWRCNBC rode with Kirby from the west side of Midtown Manhattan to United's hub at Newark Liberty International Airport in New Jersey earlier this month, where the 59-year-old executive outlined his vision for the carrier before his flight.
Kirby said he wants to expand United's footprint at New York's John F. Kennedy International Airport after his airline returns to the congested airport through a partnership with American's former partner, JetBlue Airways, as early as next year.
"We got a bunch of irons in the fire to try to find ways to do it," he said, adding that United could at some point acquire slots from carriers that aren't flying profitable routes out of the airport.
And while United already holds the crown among U.S. airlines for international flights, which are in high demand among U.S. tourists, he wants to expand the carrier's footprint abroad even more. This week, United is set to announce a host of new international routes, the carrier's annual splash that has previously included new dots on the map like Ulaanbaatar, Mongolia and Bilbao, Spain.
United has been touting its international expansion for years, saying its vast network acts as a driver for customer loyalty and sign-ups for lucrative travel rewards credit cards. Its route announcements typically come with much fanfare.
Read more about United, Delta and AmericanAmerican Airlines to add seatback screens, bigger first class in race to catch up to Delta and UnitedCompanies spurn airlines’ cheapest business class tickets‘Bring ‘em on’: Delta wants United’s crown over the Pacific, tooUnited CEO brushes off airline mergers after American rejection: ‘There’s nothing’How Delta made itself America's luxury airline — and what United wants to do about itKirby, a three-decade airline executive, is the United States' most outspoken airline CEO. His team knows this, and they've stopped telling him well in advance what will be on tap for the next batch of Instagram-friendly routes.
"They no longer tell me in advance because they're afraid I'll spill the beans, which is fair," he said.
While Delta has still had a lead on profits, CEO Ed Bastian doesn't want to give up ground to United. It is starting to expand flights over the Pacific, a United stronghold.
"People say, 'Well, when is it someone else's turn?' Well, I'm never going to let that be someone else's turn. It's always our turn," Bastian told students at Columbia Business School in April 2024. "We always get a chance to prove it every single day. ... Yesterday really doesn't matter. It's only today and tomorrow that you can think about."
1 minute breakIt's been a decade since Kirby started at United. He joined the airline in August 2016 after he was let go by American when he was president and didn't have a path to eventually becoming CEO.
United dropped a securities filing just after American disclosed Kirby's departure, saying he would be taking the president role at the Chicago airline. American promoted then-Chief Operating Officer Robert Isom to president that day, Kirby's old role. Isom was named American's next CEO in late 2021.
"I joke that most people take a few weeks, a couple months between jobs. I took 60 seconds," Kirby said.
United promoted Kirby to CEO from president in May 2020, while the industry was reeling from Covid, its worst-ever crisis.
The executive ranks at the tops of United and American trace their roots back to America West and other airlines, before a wave of mergers over the past two decades left four carriers holding more than three-quarters of U.S. flight capacity.
"One of the things also I learned at American: There's only so much change you can make as the No. 2," he said. "You can push too hard and you get fired."
United was in the midst of upgrading its cabins when Kirby joined in 2016, including with its highest-end Polaris pod seats for long-haul business class. But he said his first order of business was going through money-losing routes with a highlighter to figure out what was working and what wasn't.
The company considered closing its bases at Los Angeles International Airport and Washington Dulles International Airport in Virginia. Kirby said he stopped that idea, and both stayed open.
The airports are critical for United. LAX is one of the airline's most important hubs, though no carrier has a handle on that airport like they do others. And Kirby took a day trip from his son's soccer camp in Brazil last month to fly up to meet with President Donald Trump to unveil a $22.5 billion revamp of Dulles in the Oval Office.
AI, mergers and the future of travelStock analysts and legal experts were highly skeptical about a merger between United and one of the other U.S. giants.
People familiar with the matter said Kirby approached Delta but was turned down, as The Wall Street Journal first reported last month. The people spoke on the condition of anonymity to discuss the talks. Delta declined to comment. The carrier's president, Peter Carter, told CNBC at an industry conference in June that he doesn't see a merger or acquisition in Delta's future.
American, meanwhile, publicly rejected a merger offer from United this spring.
"At the end of the day, we spend time looking at things that have a chance of happening. We don't spend a lot of time pursuing impossibilities," Isom told CNBC in an interview in late June.
Kirby told CNBC that he hasn't changed his stance and he's not interested in acquiring a smaller airline, like JetBlue. "That's still the case," he said.
"Everything I say would require a willing partner," Kirby said.
When asked about antitrust concerns and likely pushback from state attorneys general, he said, "All of the objections are ... based on a premise that the airline industry is a commodity."
And Kirby said the industry has since evolved and that Delta and United have differentiated themselves, with their routes, onboard cabins and other products.
Read more CNBC airline newsCompanies spurn airlines’ cheapest business class ticketsAmerican Airlines will stop upgrading elite flyers to business from coach on long domestic flightsWhy flights are so expensive and will likely stay that waySouthwest Airlines put Texas jet fuel on a boat to LA for the first time amid supply worriesUnited Airlines’ new upsell: Keeping other travelers out of the middle seatRecord heat, crowds drive offseason boom in international travelHe said he wants United to grow in South America and in the Southeast U.S., but there's a lack of places to build out new hubs that make sense.
"Those are two places that are holes for United that are hard to fix on a stand-alone basis," Kirby said.
The best place for serving South America is Miami International Airport, he added. American had a more than 60% share of passenger enplanements in the 2025 fiscal year, according to airport data.
Putting mergers aside, Kirby said artificial intelligence tools for both employees and customers will make traveling easier and improve reliability, a tall order for any airline that is susceptible to weather, constrained airports and a host of other daily surprises from mechanical problems.
He wants delays expressed in clear English to customers.
"I firmly believe in no excuses, and so we don't make excuses," he said.
Even still, in the first half of the year, United ranked behind Delta and Alaska Airlines, which recently merged with Hawaiian Airlines, for on-time arrivals, according to the Transportation Department.
Kirby said outside factors or outright crises will always challenge the industry and said he is focused on the long-term future of the airline.
"Our employees often ask me like, 'What keeps you awake at night,' and I tell them, 'nothing,'" he said. "My job is to set the company up so none of you ever have to have a sleepless night worrying about your jobs."
He said his goal is to never have another furlough at the airline.
When asked if he would retire eventually, Kirby said, "I hope I will know when to retire and do it gracefully with a great transition with great people."
United Airlines dokončila první fázi rozšíření pilotního výcvikového centra v Denveru a přidala 40 zařízení CAE od roku 2022, čímž kapacita stoupla na 86 simulátorů. Centrum zvládne přes 32 000 výcviků ročně a až 860 pilotů denně.
Key Takeaways United Airlines added 40 CAE training devices since 2022, bringing the Denver center's total to 86.The center can conduct over 32,000 training events annually and train up to 860 pilots per day.United Airlines expects phase-two groundbreaking in 2027, with the expanded facility operational around 2030. In a bid to strengthen its network, United Airlines Holdings, Inc. (UAL - Free Report) is expanding its footprint beyond providing airline services to passengers to training pilots. To this end, United Airlines announced the completion of the first phase of expansion of the pilot training facility, adding 40 new CAE training devices (a combination of full-motion and fixed simulators) since 2022.
UAL’s chief executive officer (CEO), Scott Kirby, was accompanied by CAE's president and chief executive officer, Matthew Bromberg, along with other UAL and CAE leaders, to acknowledge the completion of phase one.
Kirby stated, "United pilots are the best aviators in the world, and the pace at which our team has completed this project is an example of making investments that support our high standard of excellence."
Phase two of the expansion project is set to start next year and is anticipated to be operational by 2030.
UAL’s Flight Training Center DetailsUAL’s Flight Training Center is located in the Central Park neighborhood of Denver. The facility is spread across 22 acres (almost 700,000 square feet of training space) and is the only training facility for the airline's nearly 18,000 active pilots and all newly hired pilots.
UAL's flight training center now has eight total buildings and a total of 86 CAE training devices: 52 state-of-the-art full-motion flight simulators and 34 fixed training devices. The center can conduct more than 32,000 training events annually and train up to 860 pilots per day. The facility operates 24 hours a day for 362 days a year.
UAL has started formal site building plans and expects groundbreaking on the next phase of the Flight Training Center expansion to begin on the new land in 2027, with the facility expected to be operational around 2030. The airline plans to supervise the additional Flight Training Center in conjunction with its current facility.
The Center was originally constructed between 1966 and 1968 as part of the Stapleton Airport complex and has been used as UAL’s main pilot training facility since then. Since 2016, UAL has invested $370 million in the Flight Training Center overall.
UAL’s Expansion in DenverUnited Airlines has spent nearly $1 billion in investments since 2021 to boost the customer experience in the region, as Denver is one of its fastest-growing hubs. In 2025, nearly $40 million was spent on hotel room nights in Denver for pilots visiting the training facility, with an expectation to spend nearly $50 million on hotel room nights in 2026.
UAL hired more than 1,400 people in Denver last year and plans to hire more than 1,300 people in 2026.
To ConcludeUnited Airlines continues to be the popular career destination choice for pilots, given its largest widebody fleet in North America and the global network and hubs across the United States. UAL has hired more than 9,500 pilots since announcing its United Next growth strategy in 2021. In 2026, UAL has hired 700 pilots so far, with plans to hire hundreds more this year.
Given this encouraging backdrop, the expansion seems to be a strategic business step on UAL’s part, reflecting its strength in training pilots.
UAL's Zacks Rank and Stocks to ConsiderPresently, UAL carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. (EXPD - Free Report) and Seanergy Maritime Holdings (SHIP - Free Report) as well.
Expeditors currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EXPD has an expected earnings growth rate of 28.6% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 17.15%.
Seanergy Maritime Holdings currently sports a Zacks Rank #1.
SHIP has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.
United Airlines oznámila překonání odhadu zisku, ale meziročně jí upravený EPS klesl o 48,6 % kvůli vyšším cenám paliva. Firma zároveň čeká pro rok 2026 upravený EPS 9–11 USD.
Key Takeaways United Airlines posted an earnings beat, but higher fuel costs drove a 48.6% year-over-year decline.UAL expects 2026 adjusted EPS of $9-$11 as revenue per seat mile growth is projected to improve.United Airlines has $19.6B in liquidity, but $26.46B in financial liabilities adds balance-sheet risk. United Airlines Holdings (UAL - Free Report) ) has a balanced investment setup after a strong revenue quarter. Demand, premium revenue and loyalty trends support the recovery case, but fuel and labor costs are pressuring margins.
The stock’s appeal depends on whether United Airlines can turn revenue strength into steadier earnings expansion. Rising estimates and liquidity help, while execution risk keeps the case from looking clear-cut.
UAL’s Earnings Beat Masks Profit PressureUnited Airlines reported second-quarter 2026 adjusted earnings of $1.99 per share, above the Zacks Consensus Estimate of $1.92. Still, earnings declined 48.6% year over year as higher fuel costs weighed on profitability.
Adjusted operating income fell 46.3% to $951 million. Adjusted operating margin narrowed 6.2 percentage points to 5.4%, showing that the earnings beat did not erase the pressure from cost inflation.
United Airlines’ Outlook Supports RecoveryUnited Airlines now expects 2026 adjusted earnings of $9-$11 per share. For the third quarter, adjusted earnings are projected to be in the range of $2.50-$3.50 per share, based on an assumed all-in fuel price of about $3.69 per gallon.
The Zacks Consensus Estimate for current-year earnings has increased 4.7% in the past four weeks. Management also expects third- and fourth-quarter total revenue per available seat mile growth to exceed the second quarter’s 12.1% increase.
UAL’s Valuation Offers a Mixed SignalUAL trades at 0.54X forward 12-month price-to-sales, close to 0.53X for the airline sub-industry. The multiple is also above United Airlines' five-year median of 0.33X, limiting the argument that the stock is uniformly cheap.
The forward price-to-earnings ratio of 9.4 and PEG ratio of 0.9 add support to the valuation case. Delta Air Lines (DAL - Free Report) and American Airlines Group (AAL - Free Report) remain useful peer comparisons for investors weighing airline demand, pricing and cost exposure across the group. Delta Air Lines operates a broad global network, while American Airlines Group is the parent of American Airlines and trades under AAL.
United Airlines Has Limited Target UpsideUnited Airlines' $131 price target compares with the reported share price of $120.57. That implies positive but moderate appreciation potential from the cited level.
The modest spread puts more weight on execution. Continued earnings delivery, fare realization and fuel-cost recovery are central to whether UAL becomes more attractive from here.
UAL’s Balance Sheet Adds Flexibility and RiskUnited Airlines ended the second quarter with $19.6 billion of available liquidity and trailing 12-month net leverage of 2.2 times. That liquidity gives the airline room to fund fleet and customer-facing investments while managing cyclical swings.
Debt remains part of the risk profile. Debt, finance lease obligations and other financial liabilities stood at $26.46 billion, making balance-sheet discipline important as United Airlines works through fuel volatility and capital spending needs.
United Airlines’ Scores Favor Selective PatienceThe bottom line: United Airlines has revenue momentum, a reasonable valuation and improving estimates, but margin compression keeps the investment case mixed. Fuel, labor and execution risks still matter.
The stock currently carries a Zacks Rank #3 (Hold), which points to patience rather than an aggressive near-term buying stance. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company's Value Score of A supports the valuation case, while the Growth Score of C, the Momentum Score of D and a VGM Score of B point to attractive features, not a decisive signal.
Investors were bracing themselves for what airlines like Delta Air Lines (DAL -0.69%) and United Airlines (UAL -0.17%) might report for the second quarter in light of the surge in jet fuel prices. However, although rising fuel costs are definitely having an impact on both airlines, Delta affirmed its forecast, and United Airlines actually increased its earnings outlook. Does this make both airline stocks a buy?
Rising jet fuel costs It's no secret that hostilities in the Middle East led to sharply higher crude oil prices throughout the second quarter. The shortage of crude oil and jet fuel flowing through the Strait of Hormuz not only increased crude oil prices but also sent jet fuel crack spreads soaring. The end result was a major increase in jet fuel costs for airlines in the quarter.
Image source: Getty Images.
As you can see below, the overwhelming majority of the increase in operating expenses in the second quarter was due to higher fuel costs, and in both cases, year-over-year operating income deteriorated.
Year-over-Year Change Operating Revenue Change
Fuel Cost Change
Total Operating Expenses Change
Operating Income Change
United Airlines
$2,436 million
$2,335 million
$2,665 million
($229 million)
Delta Air Lines*
$2,159 million
$1,913 million
$2,659 million
($501 million)
Data source: Company presentations. *Adjusted figures
Both stocks look like excellent values Rising fuel costs do matter, and both companies' management teams told the market they plan for significantly increased fuel costs in 2026.
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Delta Air Lines expects its fuel costs to increase by $4 billion in 2026 compared to 2025, and United Airlines expects its fuel costs to be $6 billion higher than its original estimate going into the year.
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However, before getting despondent over rising fuel costs eating into profitability, it's important to note a few things:
Both companies are demonstrating the ability to offset rising costs by raising prices, cutting unprofitable capacity where necessary, and leaning into their premium cabin offerings, including pricing and other services. Although crude oil and jet fuel prices rose in the second quarter, it's far from clear that they will remain at the same elevated level. Even though rising costs reduced earnings for both airlines, they remain highly profitable, and both companies provided outlooks that placed their stocks firmly in value territory. Fleshing out the last point, Delta Air Lines continues to expect full-year earnings per share (EPS) of $6.50 to $7.50, and United Airlines actually raised its full-year EPS estimate range to $9 to $11 from a previous range of $7 to $11.
To put these figures into context, here's what these guidance ranges mean in terms of valuation based on their price-to-earning (P/E) ratios:
Company
2026 Price to Earnings at Low End of EPS Range
2026 Price to Earnings at High End of EPS Range
United Airlines
12.9 times
10.6 times
Delta Air Lines
13 times
11.3 times
Data source: Company presentations. The author's analysis is based on prices on July 17.
In other words, you are going to have to believe that both companies will miss the low end of their projections for them not to look like a good value based on 2026 earnings estimates. Moreover, note that the forecasts already have significantly higher fuel costs baked in.
Are they a buy? In the end, the debate over the stocks comes down to the core question of whether the airline industry is still the same old cyclical industry characterized by violent boom-and-bust periods. If you believe it is, then a low price-to-earnings (P/E) ratio won't appease you, because many fortunes have been lost buying cyclical stocks at low P/Es just as their earnings peaked and then collapsed.
However, if you share my belief that Delta and United have diversified their revenue streams away from overreliance on main cabin ticketing and toward premium cabin ticketing, auxiliary services, co-branded credit card remuneration, and loyalty programs, then there's a strong case for buying their stocks. Not least because they are being stress-tested right now by rising fuel costs and appear to be handling a difficult scenario well enough to at least maintain their forecasts.
Odborový svaz zastupující více než 11 000 mechaniků a dalších zaměstnanců United Airlines uzavřel po dvou letech vyjednávání předběžnou dohodu o nové smlouvě. Dohoda počítá s podpisovým bonusem 5 000 USD na člena a rychlejším růstem mezd.
A United Airlines flight lands in front of the U.S. Capitol at Ronald Reagan Washington National Airport in Arlington, Virginia, U.S., November 7, 2025. REUTERS/Nathan Howard Purchase Licensing Rights, opens new tab
CompaniesJuly 21 (Reuters) - A union representing over 11,000 mechanics and other employees at United Airlines (UAL.O), opens new tab secured an in-principle agreement for a new contract following two years of bargaining, it said on Tuesday.
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The new contract agreed by the Teamsters United Airlines union will provide a $5,000 signing-on bonus per member, totaling $54 million.
The union said it "fully recommends ratification of this agreement."
The contract promises "industry-leading wage increases" and brings down "wage progression to top-of-scale pay" to five years, from the current eight-year period.
Union members will have the opportunity to review the full contract and vote for ratification once the details and language of the contract are finalised.
Reporting by Nandan Mandayam in Bengaluru; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Delta i United zvládly vyšší ceny leteckého paliva, ale Delta má lepší ochranu marží díky rafinerii Monroe Energy. United naopak spoléhá hlavně na likviditu a očekává téměř 6 miliard USD dodatečných nákladů na palivo v roce 2026.
Airline stocks’ sensitivity to jet fuel prices is tested whenever fuel spikes. In 2026, fuel costs are testing every airline's balance sheet. This quarter, both Delta Air Lines NYSE: DAL and United Airlines NYSE: UAL passed the test on paper. But they passed it in very different ways—and the difference matters more than the headline numbers.
Delta's adjusted fuel price rose to $3.93 a gallon, up 75% year over year. United's was worse: $4.19 a gallon, up nearly 80%. Neither number is small. United took a significant year-over-year hit to adjusted earnings per share (EPS) and now expects almost $6 billion in incremental fuel expense for full-year 2026, up from its original budget.
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That's real data that investors shouldn’t dismiss as quarterly noise. The question becomes which airline has the structural tools to keep passing that cost through to ticket prices without losing the traveler?
How Higher Jet Fuel Costs Are Impacting Delta and UnitedAs noted above, United's adjusted EPS fell 48.6% year-over-year, from $3.87 to $1.99. Delta's adjusted EPS fell 26%, from $2.12 to $1.56. The same pattern was evident in margin compression. United's adjusted pre-tax margin fell just over six points, from 11% to 4.8%. Delta fell four points, from 11.7% to 7.7%. Delta's earnings base shrank by a smaller proportion, even though both carriers faced comparable fuel inflation.
To be fair, not all of the weakness in United’s EPS and margin numbers was due to fuel costs. The company absorbed $184 million in one-time labor contract charges this quarter, versus $561 million a year ago.
Delta's Fuel Hedging Strategy Vs. United's Liquidity ApproachAt the crux of the "built for higher fuel costs" question is the strategy of fuel hedging. Most U.S. major airlines walked away from large-scale fuel hedging years ago. Unlike European carriers such as Air France-KLM OTCMKTS: AFLYY or Ryanair NASDAQ: RYAAY, which routinely lock in 70%–90% of fuel needs through derivative contracts extending a year or more out, U.S. legacy carriers have largely stopped using the strategy.
Delta Air Lines Today
DAL
Delta Air Lines
$84.15 -2.55 (-2.94%)
As of 07/17/2026 03:59 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$50.44▼
$95.68Dividend Yield1.02%
P/E Ratio13.96
Price Target$100.40
Industry reporting has pegged the impact of that exposure, and it explains the problem well. A 1-cent move in jet fuel can cost a major U.S. carrier roughly $50 million a year, with no derivative book absorbing the blow.
Delta is the partial exception because it owns Monroe Energy, a Trainer, Pennsylvania refinery that supplies a meaningful share of its jet fuel needs. Third-party refinery sales hit $2.09 billion this quarter, up 83% year-over-year, and Delta credits the refinery with an 11-cents-per-gallon benefit this quarter (including a 5-cent hit from a temporary outage).
Delta's earnings report showed $301 million in mark-to-market hedge adjustments and settlements this quarter alone. That's not the 80%+ coverage ratios you see at Ryanair or Air France-KLM, but it's meaningfully more structural protection than a pure spot-market buyer.
United Airlines Today
UAL
United Airlines
$115.41 -3.40 (-2.86%)
As of 07/17/2026 04:00 PM Eastern
52-Week Range$82.42▼
$138.77P/E Ratio10.80
Price Target$154.26
United's approach is based on liquidity.
Management raised $3.7 billion in new liquidity through private bank transactions this quarter, explicitly described as "low-cost insurance" against a further oil spike.
Per sources, United has also secured select fuel supply contracts that limit some exposure—But these reportedly fall well short of the large-scale, derivative-based hedging programs that European carriers or Delta's refinery model provide.
Can Delta and United Pass Higher Fuel Costs to Travelers?Rising jet fuel costs only matter if passengers aren’t willing to pay. So far, that hasn’t been the case. United grew capacity 3.5% year-over-year while still pushing adjusted unit revenue (TRASM) up 12.1%. Delta grew capacity roughly 1% while pushing TRASM up 12.4%.
Delta is generating comparable unit-revenue growth on a fraction of United's capacity growth—a tighter, lower-risk version of the same pricing story. United is growing into demand harder, which raises the ceiling if travel stays strong, and the downside if it doesn't.
Why Travel Demand Remains Strong Despite Higher AirfaresBoth United and Delta cited increases in premium and economy/main-cabin demand. United's Basic Economy revenue rose 11%, and its overall economy-cabin unit revenue rose 12%. That was the airline’s second consecutive quarter of positive economy growth after a long soft patch. Delta's main cabin ticket revenue rose 8%, also its second straight quarter of positive main-cabin growth, while premium ticket revenue rose 17%.
At first glance, that pattern looks contradictory. The broader travel narrative through 2025 and into 2026 has been a "K-shaped" split: strong premium demand alongside a documented pullback in budget-conscious leisure travel, with ultra-low-cost carriers absorbing the brunt of that softness. If the price-sensitive traveler is genuinely pulling back across the industry, why are Delta and United both showing their cheapest cabins turning positive at the same time?
It may come down to a share shift rather than a demand surge. Neither Delta nor United built its brand around the price-sensitive flyer, but both have spent recent years building lower-tier fare products. United’s Basic Economy and Delta's comparable main-cabin fares are designed to compete for that traveler when needed.
As ultra-low-cost carriers cut capacity or struggle with their own economics, some of that traffic doesn't vanish. It shifts, "below the line," to a legacy carrier's cheapest available seat. That would reconcile positive economy-cabin growth at Delta and United with a well-documented pullback at the dedicated budget carriers.
Which Airline Is Better Positioned for Higher Fuel Costs?Warren Buffett has been one of the most outspoken critics of airline stocks. Buffett’s argument comes down to high operating costs outweighing travel demand, which can be fickle. But every rule has occasional exceptions. In 2026, the airline industry is having a moment where, for now, math is working in its favor.
That doesn’t mean this time is different. It just means that there’s an opportunity for growth despite higher jet fuel prices. That is, as long as travelers are willing to absorb the higher costs.
If stock price growth is the only consideration, both UAL and DAL are attractive targets. In fact, an argument could be made that United has more short-term upside. But for an investor looking for long-term growth, Delta’s hedging strategy should do a better job of protecting its margins. Plus, DAL's dividend increased about 15% (from $0.1875 to $0.2150 per share), and will be paid on July 30, 2026, to shareholders of record as of July 9.
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Delta i United Airlines ve 2. čtvrtletí překonaly odhady zisku na akcii, a to i přes vyšší náklady na palivo. United navíc zvýšila celoroční výhled upraveného EPS na 9,00–11,00 USD.
Delta Air Lines (DAL - Free Report) ) and United Airlines (UAL - Free Report) ) have both delivered better-than-expected Q2 results, demonstrating that demand for premium, international, and corporate travel remains resilient despite significantly higher fuel costs.
Both carriers exceeded Wall Street's earnings expectations and expressed confidence in the second half of the year. However, they took slightly different approaches to guidance.
Delta reaffirmed its full-year outlook despite the challenging fuel environment, while United became even more optimistic by raising its earnings forecast.
For those looking to capitalize on the continued strength in the airline industry, the question is whether Delta's operational consistency or United's accelerating earnings momentum makes for the better investment.
Delta Delivered Another Strong QuarterLast Friday, Delta reported Q2 adjusted EPS of $1.56, topping expectations of $1.51 despite an expected dip from last year's record Q2 profit of $2.10 per share.
This came on a quarterly peak in revenue at $17.66 billion, which increased 14% year over year but slightly missed estimates of $17.76 billion. Premium travel, corporate demand, and international routes remained key growth drivers.
The quarter was particularly impressive considering Delta absorbed the highest quarterly fuel expense in company history, with fuel costs surging roughly 77% from a year ago due to higher oil prices. Despite the headwind, Delta generated approximately $1.4 billion in adjusted pre-tax income while maintaining an industry-leading balance sheet.
Perhaps most encouraging was management's outlook. Delta reaffirmed its full-year adjusted EPS guidance range of $6.50-$7.50 while maintaining expectations for $3 billion-$4 billion in free cash flow.
Management also projected continued momentum during the September quarter, expecting double-digit operating margins as premium demand remains healthy. Delta further rewarded shareholders by announcing a 15% dividend increase.
Image Source: Zacks Investment Research
United Raises the BarReporting Q2 results this week, United Airlines posted the more bullish earnings report.
Adjusted EPS reached $1.99, comfortably ahead of expectations of $1.92 despite a dip from a quarterly peak of $3.87 per share a year ago. Still, United posted a new record in quarterly revenue as well, at $17.67 billion, which was up 16% YoY but very narrowly missed estimates.
Strong growth across premium cabins, loyalty programs, cargo operations, and international travel helped offset sharply higher fuel expenses. The company highlighted record passenger volumes while continuing to expand its global network and premium offerings.
Most impressive, United raised the low end of its full-year adjusted EPS guidance to $9.00-$11.00, up from its prior outlook of $7.00-$11.00.
Notably, United acknowledged that fuel prices remain volatile but believes stronger pricing and revenue trends should allow the airline to recover most of those higher costs over the remainder of the year.
Image Source: Zacks Investment Research
Stock Performance & Valuation Comparison (P/E)Delighting investors is that both stocks have impressively outperformed the benchmark S&P 500 in the last three years and even the Nasdaq, although United’s gains of more than 120% have noticeably topped Delta’s 85%.
Image Source: Zacks Investment Research
Despite their strong rallies, both airlines continue to trade at valuations that offer steep discounts to the broader market.
United typically commands the lower forward earnings multiple, reflecting its more cyclical earnings profile and greater sensitivity to economic conditions.
Delta generally trades at a modest premium to United because investors have historically assigned higher multiples to its stronger balance sheet, more consistent profitability, premium revenue mix, and industry-leading operational execution.
Still, after a very extensive rally and more explosive earnings growth, United stock certainly stands out with a forward P/E of 11X compared to Delta’s 13X.
Image Source: Zacks Investment Research
Delta’s Dividend Levels The Playing FieldIncome investors have a clear favorite.
Delta currently pays a dividend yielding roughly 1%, and management reinforced its confidence in future cash generation by announcing the 15% dividend increase following its Q2 report.
United, meanwhile, does not currently pay a dividend, choosing to prioritize debt reduction, aircraft investments, and strengthening its balance sheet following the pandemic.
While United may offer greater earnings leverage during favorable airline cycles, Delta remains the more appealing option for investors seeking a combination of capital appreciation and residual income.
Image Source: Zacks Investment Research
Bottom LineDelta and United delivered impressive Q2 reports that reinforced the strength of the airline industry's recovery despite elevated fuel costs.
For investors seeking a steadier long-term compounder with a dividend, industry-leading margins, and more predictable cash flows, Delta Air Lines appears to be the more balanced investment.
Those with a higher risk tolerance looking for stronger earnings acceleration may prefer United Airlines, particularly after management raised its full-year profit outlook.
That said, both stocks currently land a Zacks Rank #3 (Hold), although United is likely to reattain a buy rating as earnings estimate revisions should move higher in the coming weeks.
United Airlines ve druhém čtvrtletí oznámila silnou poptávku i přes vyšší ceny letenek. TRASM vzrostl meziročně o 12,1 % a firma přepravila přes 640 000 zákazníků za jeden den.
United Airlines saw strong demand from travelers in the second quarter despite higher ticket prices caused by surges in the price of fuel, executives said Thursday (July 16) during an earnings call.
“In the quarter, United carried 10 of our highest passenger days in company history, with the highest being over 640,000 customers carried on June 18,” United Airlines President Brett J. Hart said during the call.
Mike Leskinen, executive vice president and chief financial officer at United, said during the call: “United has not seen a measurable demand impact based on the higher fares. In fact, if you zoom out to consider price inflation for travel over the last 10 and 20 years, airfare stands out as a tremendous value. Our customers increasingly desire a better travel experience, and we believe they will continue to pay reasonable prices for it.”
The airline saw growing demand across categories. The total revenue per available seat mile (TRASM) was up 12.1% year over year, indicating strong demand for its products, Andrew Nocella, executive vice president and chief commercial officer at United Airlines, said during the call.
“We observed minimal to no impact on demand from higher price points, a trend we see continuing,” Nocella said.
In terms of passenger revenue per available seat mile (PRASM), domestic was up 12.2% year over year and international was up 12.0%, according to a Thursday news release.
PRASM was up 11.6% year over year in the premium category and 11.5% in the main cabin, Nocella said during the call.
“This is the second quarter in a row where we’ve seen main cabin PRASMs positive after years of below-average performance at an industry level.”
Contracted business revenues were up 27% year over year, with the technology, financial services and professional services sectors leading the way, Nocella said.
“These same positive business demand trends continued into early July and we expect to continue for the remainder of the year,” Nocella said.
Overall, United Airlines CEO Scott Kirby said during the call, “Demand remains robust as we expect both 3Q and 4Q TRASM to grow faster than 2Q’s 12%.”
United Airlines překonala odhady za 2. čtvrtletí, ale vyšší ceny paliva mohou letos přidat téměř 6 miliard USD k nákladům. Upravený EPS byl 1,99 USD a tržby činily 17,67 miliardy USD.
United Airlines' second-quarter results came in ahead of Wall Street estimates, but billions of dollars in added fuel costs continue to weigh on earnings, the carrier said Wednesday.
Here is what United Airlines reported for the quarter that ended June 30 compared with what Wall Street was expecting, based on estimates compiled by LSEG:
Earnings per share: $1.99 adjusted vs. $1.88 expectedRevenue: $17.67 billion vs. $17.61 billion expectedUnited forecast third-quarter adjusted earnings per share of between $2.50 and $3.50, compared with analysts' estimates for $3.60 a share. It estimated full-year adjusted earnings per share of between $9 and $11, the higher end of the range of the adjusted $7 to $11 a share it forecast in April, when it cut its January forecast after the U.S. and Israel attacked Iran in late February.
According to Argus data published by industry group Airlines for America, jet fuel prices at major U.S. airports are up 34% in July alone through Tuesday amid a roller coaster of escalating and deescalating conflict between the U.S. and Iran. Jet fuel is the largest cost for airlines after labor.
United said the higher fuel prices could add nearly $6 billion to its expenses this year compared with what it expected at the start of 2026, and that its second-quarter fuel costs rose 84% from last year to $2.3 billion. Those estimates were made based on Tuesday's fuel prices. It said it would cover up to as much as 90% of its higher costs this quarter and all of it in the fourth quarter.
Rival Delta Air Lines also said it is passing on more of those higher costs to flyers. The airlines said demand has remained strong despite higher fares.
United said it is updating its forecast to include the most recent fuel prices because costs have been so volatile. Since the beginning of July, fuel prices have hit adjusted earnings for the third quarter by $1.12 per share, it said.
The carrier could further cut its capacity plans because of higher fuel costs this year, it said in a filing.
United expanded flying 3.5% second quarter. Its revenue rose 16% from a year earlier to $17.67 billion, with total unit revenue up 12.1% in the second quarter from last year. That was the highest unit revenue growth since early 2023, according to FactSet.
The airline reported higher revenue for premium, corporate and no-frills basic economy tickets, as well as rising unit revenue for both domestic and international trips.
Net income fell more than 17% to $805 million, or $2.46 a share. Adjusting for one-time items United reported $649 million, or $1.99 a share on an adjusted basis.
United executives will hold an earnings call Thursday at 10:30 a.m. ET.
Read more CNBC airline newsDelta launches ‘basic business’ fares without lounge access, seat selectionRecord heat, crowds drive offseason boom in international travelDelta expects higher airfare to last, bringing 2026 profit goal in reach'Bring 'em on': Delta wants United's crown over the Pacific, tooSpirit's collapse, high fuel prices test limits of summer vacation spendingMeet the pilots flying Spirit Airlines' yellow jets to the desert
United Airlines Holdings Inc (NASDAQ:UAL, XETRA:UAL1) will report second-quarter earnings after the market close on Wednesday, with investors focused on how the carrier is managing rising fuel costs against resilient travel demand.
UBS analysts said the bar for second-quarter earnings per share sits at $1.85 to $1.90, well above the midpoint of United's own $1 to $2 guidance.
UBS forecasts EPS of $1.91, ahead of the $1.86 consensus, on 3% capacity growth, a 12.8% rise in unit revenue, unit costs excluding fuel up 7%, and fuel at $4.25 per gallon.
Fuel will be a key focus. United typically updates fuel guidance the Friday before earnings, but a sharp jump in jet fuel prices has made the outlook harder to pin down. Gulf Coast jet fuel was trading near $3.60 per gallon and West Coast jet fuel near $3.90, UBS said, and the market will likely benchmark United's assumption against $3.30 to $3.40 per gallon.
Consensus for third-quarter EPS guidance sits at $3 to $4; a higher fuel assumption would push that lower. UBS said the most important signal will be management's confidence in recovering nearly all of the recent fuel spike by the fourth quarter.
For full-year 2026, most investors expect EPS guidance of $9 to $11, above the current $7 to $11 range, though the outlook remains fuel-dependent. UBS said the key metrics to watch will be United's fourth-quarter capacity outlook and its implied fourth-quarter revenue growth.
United Airlines začne nabízet místo s prázdným prostředním sedadlem na některých letounech Airbus A321XLR. Má jít o další upsell pro cestující v sekci s větším prostorem pro nohy.
United Airlines has a new way to entice customers to pay more on board: no middle seat neighbor.
The carrier said Tuesday that one of the rows on its Airbus A321XLRs will have an empty middle seat with a tray table for the aisle- and window-seat customers to share. The seats, which are in the extra legroom section, go on sale later this year so it's not clear just how much more United will charge. It said it could later add them to other aircraft beyond those new, long-range narrow-body planes.
The new upsell is just one of many airlines are throwing out to get customers to pay more to fly. Last week, Delta Air Lines joined United in launching basic business-class and premium economy fares that don't come with perks that used to be included in the ticket. For example, Delta will no longer include access to its top-tier Delta One lounge or seat selection with its cheapest long-haul business class tickets.
Read more CNBC airline newsDelta launches ‘basic business’ fares without lounge access, seat selectionRecord heat, crowds drive offseason boom in international travelDelta expects higher airfare to last, bringing 2026 profit goal in reach'Bring 'em on': Delta wants United's crown over the Pacific, tooSpirit's collapse, high fuel prices test limits of summer vacation spendingMeet the pilots flying Spirit Airlines' yellow jets to the desertUnited in March also said it plans to launch a set of three economy seats that can be converted into a bed, which it's calling the "Relax Row" on some of its wide-body planes.
Airlines have spent years adding more premium-class seats to make bigger business-class cabins where spending has been more resilient. The bottlenecks of ever-more-elaborate seats have even delayed deliveries of new planes.
Federální soudce odmítl zamítnout žalobu proti United Airlines kvůli údajnému účtování příplatku za „window seats“ bez oken. Případ nyní pokračuje u federálního soudu.
A federal judge on Monday refused to dismiss a proposed class-action lawsuit accusing United Airlines of charging passengers extra for “window seats” that lacked actual windows, allowing the case to move forward.
U.S. District Judge James Donato ruled the plaintiffs plausibly alleged United breached its contractual obligations by selling seats identified as window seats even though some were positioned next to solid cabin walls rather than windows.
“These terms plausibly establish that United expressly agreed to provide a seat with a window to passengers who paid for one,” Donato wrote, adding that United’s reservation screens and boarding passes represented that customers had purchased window seats. “No more is needed at this stage for the breach claims to go forward.”
The lawsuit alleges United knowingly charged passengers extra for certain window seats on aircraft, including Boeing 737s, Boeing 757s and Airbus A321s, even though some seats lacked adjacent windows because of aircraft design. Plaintiffs claim passengers often pay premiums for window seats to enjoy the view or help alleviate anxiety, claustrophobia or motion sickness.
A United Airlines aircraft taxis near a runway marker at Palm Beach International Airport. Chris Beckett/ZUMA / SplashNews.com United argued the lawsuit should be dismissed, saying “window seat” describes a seat’s location relative to the aisle rather than guaranteeing an actual window and contending federal law preempts the claims. Donato rejected those arguments at this stage of the litigation.
United declined to comment on the lawsuit.
A general view looking out an airplane window of an airplane wing and clouds over the United States as seen on August 20, 2024. Christopher Sadowski “As part of our regular review of united.com and the United App to enhance the customer experience, in 2025 we added more detail to our seat selection process, so customers can have more information about what to expect when they choose a seat,” a United spokesperson told FOX Business.
The plaintiffs seek to represent a nationwide class of passengers who paid extra for window seats but allegedly received seats without windows.
United Airlines by měla podle odhadů vykázat zisk 1,89 USD na akcii a tržby 17,69 miliardy USD za čtvrtletí. Kombinace vyššího odhadu a Earnings ESP +1,26 % naznačuje možné překonání očekávání.
United Airlines (UAL - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on July 15, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis airline is expected to post quarterly earnings of $1.89 per share in its upcoming report, which represents a year-over-year change of -51.2%.
Revenues are expected to be $17.69 billion, up 16.1% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 17.87% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for United?For United, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.26%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that United will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that United would post earnings of $1.08 per share when it actually produced earnings of $1.19, delivering a surprise of +10.19%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
United appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAnother stock from the Zacks Transportation - Airline industry, United Airlines (UAL - Free Report) , is soon expected to post earnings of $1.89 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -51.2%. Revenues for the quarter are expected to be $17.69 billion, up 16.1% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for United has been revised 17.9% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.26%, reflecting a higher Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that United will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
United Airlines zveřejní výsledky za 2. čtvrtletí 15. července; analytici čekají EPS 1,82 USD a tržby 17,58 miliardy USD. Akcie v úterý klesly o 3,2 % na 128,31 USD.
United Airlines Holdings, Inc. (NASDAQ:UAL) will release its second quarter earnings report after the closing bell on Wednesday, July 15.
Analysts expect the Chicago, Illinois-based company to report quarterly earnings of $1.82 per share, down from $3.87 per share in the year-ago period. The consensus estimate for United Airlines’ quarterly revenue is $17.58 billion. It reported $15.24 billion last year, according to Benzinga Pro.
On April 21, United Airlines Holdings posted better-than-expected first-quarter earnings.
Shares of United Airlines fell 3.2% to close at $128.31 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying UAL stock? Here’s what analysts think:
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United Airlines spustí od 17. prosince 2026 přímé lety z Houstonu a Washingtonu Dulles do Cartageny, čímž se stane první americkou aerolinkou na obou trasách. Cartagena bude třetí destinací United v Kolumbii.
Key Takeaways UAL will launch nonstop flights to Cartagena from Houston and Washington Dulles on Dec. 17, 2026.UAL adds its third Colombia destination, complementing long-standing service to Bogota and Medellin.UAL plans upgraded onboard features and free Starlink Wi-Fi for MileagePlus members to enhance travel. United Airlines (UAL - Free Report) announced the launch of new nonstop flights from Houston Intercontinental Airport (“IAH”) and Washington Dulles International Airport (“IAD”) to Cartagena, Colombia, effective Dec. 17, 2026, subject to government approval. With this move, United will become the first U.S. airline to offer nonstop service on both routes, further expanding its international network in Latin America.
The new services will operate year round with four weekly flights from each hub, using Boeing 737 aircraft. The expansion adds Cartagena as United's third destination in Colombia, complementing its existing operations to Bogotá and Medellín, where the airline has maintained a presence for more than 30 years.
The new routes are expected to strengthen United's connectivity across North America by linking Cartagena to more than 70 destinations through its Houston and Washington Dulles hubs. The expansion also reinforces the airline's leadership in Latin America, where it already offers the largest network from Texas and the Washington, D.C., region.
Alongside network expansion, United continues to enhance its customer offering by deploying aircraft equipped with seatback entertainment screens, Bluetooth connectivity and larger overhead bins. The airline also plans to introduce free Starlink Wi-Fi for MileagePlus members, underscoring its focus on improving the travel experience while supporting long-term international growth.
UAL’s Share Price PerformanceUAL’s shares have gained 68.9% over the past year compared with the Transportation - Airline industry’s 43.3% growth.
Image Source: Zacks Investment Research
UAL’s Zacks RankUAL currently carries a Zacks Rank #3 (Hold).
Stocks to ConsiderInvestors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. (EXPD - Free Report) and Teekay Tankers Ltd (TNK - Free Report) .
EXPD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expeditors has an expected earnings growth rate of 11.9% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 13.96%.
Teekay Tankers Ltd currently sports a Zacks Rank #1.
TNK has an expected earnings growth rate of 98% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 10.2%.
