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UNITED AIRLINES HOLDINGS, INC.

(UAL)
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United Plans Large Transatlantic Expansion in Its History, Including 10 New Flights and Five New Destinations Debuting Summer 2022

10/14/2021 | 08:20am EST

United announced a large transatlantic expansion in its history, including 10 new flights and five new, vogue destinations – Amman, Jordan; Bergen, Norway; Azores, Portugal; Palma de Mallorca, Spain and Tenerife in the Spanish Canary Islands. All of the new routes – which are set to begin in Spring 2022 – are not served by any other North American carrier. Additionally, next year, United will add new flights to five popular European destinations: Berlin, Dublin, Milan, Munich and Rome. Lastly, United will launch seven routes that were interrupted due to the pandemic to Bangalore, Frankfurt, Tokyo'sHaneda Airport, Nice and Zurich. Flights are subject to government approval. Amman, Jordan: United will begin new capital to capital service between Washington, D.C. and Amman, Jordan starting May 5. Customers will be able to explore the numerous historical sites in and around Amman, as well as visit Jordan's other top destinations including Petra, the Dead Sea and the Wadi Rum desert. United will be the only North American carrier flying direct to Amman with service three times weekly with a Boeing 787-8 Dreamliner. Ponta Delgada, Azores, Portugal: United will add a third Portuguese destination to its global network with brand new flights between New York/Newark and Ponta Delgada in the Azores beginning May 13. The carrier will offer the most flights between the U.S. and Portugal of any North American airline and will be the only airline to fly to the Azores from the New York metro area. This daily service joins United's existing flights to Porto, which will return in March, and Lisbon, which the airline is currently operating from New York/Newark and will resume from Washington, D.C. next summer. United will fly a brand-new Boeing 737 MAX 8 aircraft featuring United's new signature interior with enhanced seat back entertainment with Bluetooth connectivity and overhead bin space for every customer. Bergen, Norway: Beginning May 20, United will become the only U.S. carrier to fly to Norway with flights launching between New York/Newark and Bergen. United will offer three times weekly service on a Boeing 757-200, allowing customers to experience Bergen's surrounding mountainous landscape and breathtaking fjords. United will be the only carrier to fly to Bergen from the U.S. Palma de Mallorca, Balearic Islands, Spain: United is expanding its Spanish beach getaway destinations with three times weekly flights between New York/Newark and Palma de Mallorca in the Balearic Islands, launchingJune 2 with a Boeing 767-300ER. This will be the first and only flight between the U.S. and Mallorca and will add to United's existing service to Madrid and Barcelona. Tenerife, Canary Islands, Spain: Travelers looking for an additional new beach destination can enjoy the stunning black and white sand beaches of Spain'sCanary Islands with United's new flight from New York/Newark to Tenerife. United will be the only airline to fly direct between the Canary Islands and North America with three-times weekly service launchingJune 9 with a Boeing 757-200. Along with the new service to Palma de Mallorca, United will fly to more Spanish destinations from North America than any other airline. Expanded European Service: United is also adding flights to some of Europe's most iconic cities in anticipation of a resurgence in visitors. Next spring United will add: New daily flights between Denver and Munich – joining existing service from Denver to Frankfurt and London which is expected to resume in March. United is the only U.S. airline to offer transatlantic service from Denver. New daily flights between Chicago and Milan, joining existing seasonal flights between Chicago and Rome. United will be the only airline to offer a direct flight between Chicago and Milan, adding to its existing service between New York/Newark and Milan. New daily capital to capital service between Washington, D.C. and Berlin, joining other service to Berlin from New York/Newark. United is the only U.S. airline with direct flights to Berlin. An additional daily flight from New York/Newark to Dublin and Rome. In addition to these new routes, United will begin seven routes that were interrupted by the pandemic: Daily flights between San Francisco and Bangalore beginning May 26; Daily flights between New York/Newark and Nice beginning April 29; A second daily flight between New York/Newark and Frankfurt beginning April 23; Daily flights between Chicago and Zurich beginning April 23; Flights from Washington, D.C., Los Angeles and New York/Newark to Tokyo'sHaneda airport by March 26. United is committed to putting health and safety at the forefront of every customer's journey, with the goal of delivering an standard of cleanliness through its United CleanPlusSM program. United has teamed up with Clorox and Cleveland Clinic to redefine cleaning and health safety procedures from check-in to landing and has implemented more than a dozen new policies, protocols and innovations designed with the safety of customers and employees in mind. To manage entry requirements in different destinations, and find places to get tests, customer can visit United's Travel Ready Center. United Next: United is more focused than ever on its commitment to customers and employees. In addition to today's announcement, United has recently: Launched an ambitious plan to transform the United customer experience by adding and upgrading hundreds of aircraft as well as investing in features like larger overhead bins, seatback entertainment in every seat and fast available Wi-Fi. Announced a goal to create 25,000 unionized jobs by 2026 that includes careers as pilots, flight attendants, agents, technicians, and dispatchers. Announced that United will train at least 5,000 pilots by 2030 through the United Aviate Academy, with the plan of at least half being women and people of color. Required all U.S. employees to receive a COVID-19 vaccination. Became the first airline to offer customers the ability to check their destination's travel requirements, schedule COVID-19 tests and more on its mobile app and website. Invested in emerging technologies that are designed to decarbonize air travel, like an agreement to work with urban air mobility company Archer, an investment in aircraft startup Heart Aerospace and a purchase agreement with Boom Supersonic. Committed to going 100% green by 2050 by reducing 100% of greenhouse gas emissions without relying on traditional carbon offsets, including a recent agreement to purchase one and a half times the amount of all of the rest of the world's airlines' publicly announced Sustainable Aviation Fuel commitments combined. Eliminated change fees for all economy and premium cabin tickets for travel within the U.S.


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Financials (USD)
Sales 2021 24 482 M - -
Net income 2021 -2 326 M - -
Net Debt 2021 21 932 M - -
P/E ratio 2021 -6,08x
Yield 2021 -
Capitalization 13 684 M 13 684 M -
EV / Sales 2021 1,45x
EV / Sales 2022 0,83x
Nbr of Employees 85 300
Free-Float 99,8%
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Number of Analysts 22
Last Close Price 42,26 $
Average target price 58,40 $
Spread / Average Target 38,2%
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Managers and Directors
J. Scott Kirby Chief Executive Officer & Director
Brett J. Hart President
Gerald Laderman Chief Financial Officer & Executive Vice President
Edward M. Philip Non-Executive Chairman
Linda P. Jojo Chief Digital Officer & Executive VP-Technology
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