United Airlines Holdings Frequent flyer deferred revenue increased by 1.2% to $4.10B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 0.4%, from $4.12B to $4.10B. Over 5 years (FY 2020 to FY 2025), Frequent flyer deferred revenue shows a downward trend with a -4.4% CAGR.
An increase suggests higher loyalty program engagement or higher redemption costs, while a decrease may indicate lower future travel obligations or changes in program valuation.
This represents the estimated fair value of unredeemed frequent flyer miles that are expected to be redeemed beyond one...
Major airlines typically carry significant deferred revenue balances; comparisons focus on the ratio of deferred revenue to total loyalty program members.
other_contract_with_customer_liability_noncurrent_freque_b100fe| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.09B | $4.09B | $4.04B | $3.90B | $3.91B | $3.94B | $3.98B | $4.03B | $4.18B | $4.11B | $4.05B | $4.19B | $4.10B | $4.06B | $4.04B | $4.12B | $4.11B | $4.06B | $4.06B | $4.10B |
| QoQ Change | — | +0.0% | -1.1% | -3.5% | +0.1% | +0.8% | +1.2% | +1.2% | +3.8% | -1.8% | -1.4% | +3.6% | -2.2% | -1.1% | -0.5% | +2.0% | -0.1% | -1.3% | -0.1% | +1.2% |
| YoY Change | — | — | — | — | -4.4% | -3.7% | -1.5% | +3.3% | +7.1% | +4.3% | +1.7% | +4.1% | -2.0% | -1.2% | -0.2% | -1.8% | +0.3% | +0.1% | +0.4% | -0.4% |