AI-extracted from the 10-Q filed 2026-10-21 — Q3 FY2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
United Airlines' Q3 2026 operating revenue rose 17.4% to $17.9B, driven by a 16.8% yield increase, while fuel expense jumped 61.6% and cut operating margin to about 8%.
Biggest Revenue Drivers
Passenger revenue$16.2B+17.6% YoY
Primarily due to a 16.8% increase in yield and a 2.4% increase in the number of passengers flown.
Other operating revenue$1.1B+12.9% YoY
Primarily due to increased mileage revenue from non-airline partners, including JPMorgan Chase credit card spending, and higher United Club visitor volumes.
Biggest Revenue Drivers
Total revenue: $17.9B+17.4% YoY
Passenger revenue$16.2B+17.6% YoY
Primarily due to a 16.8% increase in yield and a 2.4% increase in the number of passengers flown.
Other operating revenue$1.1B+12.9% YoY
Primarily due to increased mileage revenue from non-airline partners, including JPMorgan Chase credit card spending, and higher United Club visitor volumes.
Cargo revenue$529M+22.9% YoY
Primarily due to an increase in freight yields as well as a slight increase in tonnage.
Largest Expense Items
Aircraft fuel$4.8B+61.6% YoY
Primarily due to a higher average price per gallon of fuel.
Salaries and related costs$5.0B+8.9% YoY
Increased pay from higher flying activity, a 5.4% increase in headcount, and pay rate increases including the AFA agreement ratified in May 2026.
Other operating expenses$2.7B+7.6% YoY
Increased flight activity and passenger numbers, including catering, ground handling, crew-related expenses and IT projects.
Margins: Operating income rose to $1.4B (operating margin about 8%) despite the fuel spike, with special credits of $215M from aircraft sale-leaseback gains. The filing cites fuel prices and geopolitical conflicts in the Middle East as ongoing margin pressure.
Watch Items from the Filing
Aircraft fuel expense rose $1.8B (61.6%) in the quarter; the filing cites geopolitical conflicts elevating global fuel prices as a continuing risk.
Total debt, finance lease and other financial liabilities reached $34.3B, with $2.8B due in the next 12 months.
Liquidity of $14.7B in unrestricted cash and short-term investments, and the revolving credit facility was upsized to $5.0B and extended to 2031.
Special credits of $215M in the quarter were primarily aircraft sale-leaseback gains of $294M, not recurring operating earnings.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
5 transactions in UAL reported by 2 members of Congress under the STOCK Act, most recent trade Feb 10, 2026. Reported transactions, not recommendations.
About United Airlines Holdings, Inc. (UAL): stock profile, AI score and financials
United Airlines Holdings, Inc. (UAL) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores UAL at 62.0/100 on a composite quality score built from its SEC filings, placing it at rank #740 of 2,925 stocks — the top half of the AI-ranked universe. UAL scores in the top quartile across revenue scale (97.5), earnings quality (76.4). Areas of concern include free cash flow (32.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q3 2026), United Airlines Holdings, Inc. reports quarterly revenue of $17.9B, net income of $1.0B, an operating margin of 8.1%. Top institutional holders of UAL by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, FMR, based on the most recent SEC filings. UAL trades on the Nasdaq exchange and files with the SEC under CIK 100517. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate UAL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for United Airlines Holdings, Inc. directly from SEC EDGAR.