Income StatementBalance SheetCash FlowSegments
United Airlines Holdings logo

United Airlines Holdings Business Segments

Business, geographic, and product segment breakdowns

United Airlines Holdings generates $60.5B in annual revenue across 3 key segments: Ancillary Services ($5.0B), Cargo revenue ($1.8B), and Passenger revenue ($54.7B). The company-wide operating margin is 8.44%. Based on the Q1 2026 filing.

Ancillary Services (TTM)$5.0BCargo revenue (TTM)$1.8BPassenger revenue (TTM)$54.7B
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$31.2B
P/E Ratio8.50
ROE25.73%

Products & Services

Revenue from Contract with Customer, Excluding Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Passenger revenue$13.3B$11.9B$13.8B$13.8B$13.9B$13.2B
Ancillary Services$1.2B$1.0B$1.2B$1.3B$1.3B$1.2B
Cargo revenue$521.0M$429.0M$430.0M$431.0M$489.0M$422.0M

Contract with Customer, Liability

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Frequent Flyer Program$7.4B$7.6B$7.7B$7.7B$7.8B$7.9B

Miles earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Frequent Flyer Program$920.0M$919.0M$991.0M$968.0M$1.0B$1.0B

Non-Travel Miles Redemption, Frequent Flyer Deferred Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Frequent Flyer Program$25.0M$38.0M$29.0M$36.0M$30.0M$42.0M

Travel Miles Redemption, Frequent Flyer Deferred Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Frequent Flyer Program$825.0M$730.0M$888.0M$896.0M$900.0M$835.0M

Revenue recognized

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Passenger, Advance Ticket Sales$1.3B$4.3B———$4.6B