Global network airline
United Airlines Holdings, Inc.
United Airlines generates most of its revenue from domestic and international passenger transportation, supplemented by cargo and MileagePlus partnerships. It maintains large aircraft purchase commitments with Boeing and Airbus and also holds equity investments in future air-mobility companies.
Business categories Airline Operators · Industrial Infrastructure & Heavy Industry · primary
UAL Updated Sep 23, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, United Airlines Holdings, Inc. is directly linked to 4 companies (3 supply, 1 revenue relationships) and reaches 19 companies within two hops; the links are backed by 7 dated sources, 2 of them primary filings (as of 2026-09-23).
Financials & Segments
- Total revenue · FY2025 total revenue of $59.07 billion
- Segments · Passenger · Cargo · Other operating
Revenue from
- U.S. General Services Administration (GSA) High confidence
The U.S. General Services Administration awarded United Airlines an FY2026 City Pair Program contract for official government air travel. United's individual contract value was not disclosed.Confirms EN U.S. General Services Administration Published Jul 8, 2025: GSA's City Pair Program Announces Awards, Delivers Billions in Savings to Taxpayers - JPMorgan Chase High confidence
JPMorgan Chase issues the MileagePlus co-branded card and buys miles from United. United describes it as its most significant contract for selling MileagePlus miles, but does not disclose payments from Chase separately. - United States Postal Service (USPS) High confidence
The United States Postal Service contracted with United under the ICAIR program to transport international mail and paid United based on contract performance. The public record confirms millions of dollars in payments but does not disclose the exact contract revenue.Confirms EN U.S. Department of Justice Published Feb 25, 2021: United Airlines Non-Prosecution Agreement and Statement of Facts
Pays to
- Boeing High confidence· Count 420 aircraft · as of 2025-12-31 · Firm Boeing aircraft purchase commitments
Boeing is a core aircraft supplier to United. At year-end 2025, firm commitments totaled 420 aircraft: 150 787s, 103 737 MAX 9s and 167 737 MAX 10s.Mentions EN CAPA Centre for Aviation Published Mar 5, 2025: United Airlines receives 1000th mainline aircraft: Diving into the world's largest airline fleetMentions KO Korea Economic Daily Published Apr 17, 2024: Why United Airlines Shares Rose Despite a First-Quarter Net Loss - Airbus High confidence· Count 214 aircraft · as of 2025-12-31 · Firm Airbus aircraft purchase commitments
Airbus is United's other core aircraft supplier. At year-end 2025, firm commitments totaled 214 aircraft: 119 A321neos, 50 A321XLRs and 45 A350s.Mentions KO Korea Economic Daily Published Apr 17, 2024: Why United Airlines Shares Rose Despite a First-Quarter Net Loss - Phillips 66 High confidence
United Airlines receives sustainable aviation fuel from Phillips 66 under a 2024 agreement covering Chicago and Los Angeles, and the latest deal disclosed in 2026 covers 11 million gallons.Confirms EN Phillips 66 Published Dec 5, 2024: Phillips 66, United Airlines sign SAF supply agreement
Investments
- Archer Aviation Inc. High confidence
United holds equity and equity-linked securities in electric vertical takeoff and landing aircraft developer Archer Aviation. It does not disclose Archer's carrying value separately.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| EOG Resources, Inc. | lead2 | +88.6 | +56.9 | -2 | +4.3 | -11.4 | +44.6 |
| Chipotle Mexican Grill | lead2 | +26.1 | -20.6 | +64.8 | +31.8 | -38.6 | -0.1 |
| JPMorgan Chase | lead1 | +27.7 | -12.6 | +30.6 | +44.3 | +37.3 | +12.9 |
| United Airlines Holdings, Inc. | node | +1.2 | -13.9 | +9.4 | +135.3 | +15.2 | -3.9 |
| Phillips 66 | benef1 | +8.5 | +49.6 | +33.1 | -11.6 | +17.5 | +101.8 |
| Boeing | benef1 | -6 | -5.4 | +36.8 | -32.1 | +22.7 | -2.2 |
| Moog | benef2 | +3.4 | +9.8 | +66.6 | +36.8 | +24.5 | +53 |
| Korean Airlines | benef2 | -7.1 | -6.1 | -4.2 | +13.8 | -6 | +35.8 |
| Kinder Morgan, Inc. | benef2 | +23.8 | +21.2 | +4.1 | +64.4 | +4.8 | +17.5 |
| AMETEK, Inc. | benef2 | +22.3 | -4.3 | +18.8 | +10 | +14.7 | +16.1 |
| Toray Industries | benef2 | +8.3 | +12.5 | -4.8 | +49.2 | +7.5 | +10.5 |
| GE Aerospace | benef2 | +9.7 | -10.9 | +95.7 | +64.8 | +85.7 | +9.7 |
| PPG Industries | benef2 | +21.3 | -25.7 | +21.2 | -18.5 | -12 | +3.4 |
| RTX | benef2 | +23.3 | +20 | -14.4 | +40.8 | +61.4 | +2.5 |
| Thales | benef2 | +12.5 | +52.5 | +14 | +17.8 | +66.6 | -7.5 |
| Mitsubishi Heavy Industries | benef2 | +7.2 | +68.3 | +100.5 | +134.2 | +98.3 | -16.7 |
| TransDigm Group Incorporated | benef2 | +2.8 | +1.8 | +66.6 | +32.3 | +12.2 | -16.7 |
| Korea Aerospace Industries | benef2 | +15.4 | +34.6 | +7 | +5.5 | +217.9 | -24.6 |
YTD as of 2026-10-09 · source: Yahoo Finance
United Airlines Holdings, Inc. operates across Global network airline. It is -0.4% in 2026. The supply side (avg +34.8%) has moved harder than the stock (-0.4%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Phillips 66 (+101.8%) and the furthest behind is Boeing (-2.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It maintains large aircraft purchase commitments with Boeing and Airbus and also holds equity investments in future air-mobility companies.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple