UALUnited Airlines Holdings
United Airlines Holdings, Inc. (together with its consolidated subsidiaries, "UAL" or the "Company") is a holding company and its wholly-owned subsidiary is United Airlines, Inc. (together with its consolidated subsidiaries, "United"). 10-K, Item 1
- Headquarters
- Chicago, IL
- CEO
- J. Scott Kirby
- Next results
- around Jan 19, 2027
What the 10-K filed 2026-02-12 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-27.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
1 newParts or manufacturing that depend on one or a few suppliers.
“Substantially all of the Company's aircraft, engines and certain parts are sourced from a limited number of suppliers; therefore, the Company would be materially and adversely affected if it were unable to obtain timely deliveries, additional equipment or support from any of these suppliers.”
Read it in the 10-K ↗
New “The Company is also dependent on a limited number of suppliers for engines and certain other aircraft parts.”
Read it in the 10-K ↗
Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
No specific sentence about this in the 10-K.
Guarantees and indemnities
2 newPromises to pay someone else's debts or losses if they cannot.
New “On February 2, 2026, UAL issued, in a public offering, $1,000,000,000 principal amount of its 5.375% Senior Notes due 2031 (the "2031 Notes"), which are guaranteed by United.”
Read it in the 10-K ↗
New “On February 6, 2026, UAL issued, in a public offering, $1,000,000,000 principal amount of its 4.875% Senior Notes due 2029 (the "2029 Notes"), which are guaranteed by United.”
Read it in the 10-K ↗
“The Company has indirect guarantees for approximately $2.9 billion in loans secured by fuel facility leases in which United participates, with a contingent exposure of about $513 million.”
Read it in the 10-K ↗
“As of December 31, 2025, approximately $2.9 billion principal amount of such loans was secured by significant fuel facility leases in which United participates, as to which United and each of the signatory airlines has provided indirect guarantees of the debt.”
Read it in the 10-K ↗
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“Certain of our debt agreements contain financial covenants that require the Company to maintain at least $2.0 billion of unrestricted liquidity at all times, which includes unrestricted cash, certain liquid and short-term investments and any undrawn amounts under any revolving credit facility, and to maintain a minimum ratio of appraised value of collateral to the outstanding debt secured by such collateral on a senior basis of 1.6 to 1.0, tested semi-annually.”
Read it in the 10-K ↗
“As of December 31, 2025, UAL and United were in compliance with their respective debt covenants under these agreements.”
Read it in the 10-K ↗
“As of December 31, 2025, the Company was in compliance with its debt covenants under these agreements.”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on UAL in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/UAL/export.csv") into a cell.