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Earnings (Loss) Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings (loss) available to common stockholders	$ (1,704)	$ 292
Basic weighted-average shares outstanding (in shares)	248.5	267.0
Effect of employee stock awards (in shares)	0.0	1.3
Diluted weighted-average shares outstanding (in shares)	248.5	268.3
Earnings (loss) per share, basic and diluted (in dollars per share)	$ (6.86)	$ 1.09
Employee Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from the computation of the diluted per share amount (in shares)	0.9

Statements of Consolidated Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating revenue:
Operating revenue	$ 7,979	$ 9,589
Operating expense:
Salaries and related costs	2,955	2,873
Aircraft fuel	1,726	2,023
Regional capacity purchase	737	688
Landing fees and other rent	623	588
Depreciation and amortization	615	547
Aircraft maintenance materials and outside repairs	434	408
Distribution expenses	295	360
Aircraft rent	50	81
Special charges	63	18
Other operating expenses	1,453	1,508
Total operating expenses	8,951	9,094
Operating income (loss)	(972)	495
Nonoperating income (expense):
Interest expense	(171)	(188)
Interest capitalized	21	22
Interest income	26	29
Unrealized gains (losses) on investments, net	(319)	17
Miscellaneous, net	(699)	(8)
Total nonoperating expense, net	(1,142)	(128)
Income (loss) before income taxes	(2,114)	367
Income tax expense (benefit)	(410)	75
Net income (loss)	$ (1,704)	$ 292
Earnings (loss) per share, basic and diluted (in dollars per share)	$ (6.86)	$ 1.09
United Airlines, Inc.
Operating revenue:
Operating revenue	$ 7,979	$ 9,589
Operating expense:
Salaries and related costs	2,955	2,873
Aircraft fuel	1,726	2,023
Regional capacity purchase	737	688
Landing fees and other rent	623	588
Depreciation and amortization	615	547
Aircraft maintenance materials and outside repairs	434	408
Distribution expenses	295	360
Aircraft rent	50	81
Special charges	63	18
Other operating expenses	1,453	1,507
Total operating expenses	8,951	9,093
Operating income (loss)	(972)	496
Nonoperating income (expense):
Interest expense	(171)	(188)
Interest capitalized	21	22
Interest income	26	29
Unrealized gains (losses) on investments, net	(319)	17
Miscellaneous, net	(698)	(8)
Total nonoperating expense, net	(1,141)	(128)
Income (loss) before income taxes	(2,113)	368
Income tax expense (benefit)	(409)	75
Net income (loss)	(1,704)	293
Passenger revenue
Operating revenue:
Operating revenue	7,065	8,725
Passenger revenue \| United Airlines, Inc.
Operating revenue:
Operating revenue	7,065	8,725
Cargo
Operating revenue:
Operating revenue	264	286
Cargo \| United Airlines, Inc.
Operating revenue:
Operating revenue	264	286
Other operating revenue
Operating revenue:
Operating revenue	650	578
Other operating revenue \| United Airlines, Inc.
Operating revenue:
Operating revenue	$ 650	$ 578

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Allowance for credit losses	$ 30,000,000	$ 9,000,000
Obsolescence allowance for aircraft fuel, spare parts and supplies	446,000,000	425,000,000
Accumulated amortization on intangibles	1,454,000,000	$ 1,440,000,000
Allowance for credit losses on notes receivable	$ 549
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	1,000,000,000	1,000,000,000
Common shares, outstanding (in shares)	247,256,855	251,216,381
United Airlines, Inc.
Allowance for credit losses	$ 30,000,000	$ 9,000,000
Obsolescence allowance for aircraft fuel, spare parts and supplies	446,000,000	425,000,000
Accumulated amortization on intangibles	1,454,000,000	$ 1,440,000,000
Allowance for credit losses on notes receivable	$ 549,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	1,000	1,000
Common shares, issued (in shares)	1,000	1,000
Common shares, outstanding (in shares)	1,000	1,000

Debt - Contractual Principal Payments (Details) - UAL And United $ in Millions	Mar. 31, 2020 USD ($)
Debt Instrument [Line Items]
Last nine months of 2020	$ 1,181
2021	3,948
2022	1,799
2023	849
2024	3,155
After 2024	6,524
Long-term debt	$ 17,456

Statements of Consolidated Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Capital Invested	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	United Airlines, Inc.	United Airlines, Inc. Additional Capital Invested	United Airlines, Inc. Retained Earnings	United Airlines, Inc. Accumulated Other Comprehensive Income (Loss)	United Airlines, Inc. Receivable from Related Parties, Net
Balance (in shares) at Dec. 31, 2018		269,900,000
Balance at Dec. 31, 2018	$ 10,042	$ 3	$ 6,120	$ (1,993)	$ 6,715	$ (803)	$ 10,004	$ 598	$ 10,319	$ (803)	$ (110)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	292				292		293		293
Other comprehensive income (loss)	10					10	10			10
Dividend to UAL							(528)	(528)
Stock settled share-based compensation	14		14				14	14
Repurchases of common stock (in shares)		(6,100,000)
Repurchases of common stock	(527)			(527)
Net treasury stock issued for share-based awards (in shares)		500,000
Net treasury stock issued for share-based awards	(29)		(54)	33	(8)
Other							(30)				(30)
Balance (in shares) at Mar. 31, 2019		264,300,000
Balance at Mar. 31, 2019	$ 9,802	$ 3	6,080	(2,487)	6,999	(793)	$ 9,763	84	10,612	(793)	(140)
Balance (in shares) at Dec. 31, 2019	251,216,381	251,200,000					1,000
Balance at Dec. 31, 2019	$ 11,531	$ 3	6,129	(3,599)	9,716	(718)	$ 11,492	0	12,353	(718)	(143)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,704)				(1,704)		(1,704)		(1,704)
Other comprehensive income (loss)	(53)					(53)	(53)			(53)
Dividend to UAL							(342)	(12)	(330)
Stock settled share-based compensation	22		22				22	22
Repurchases of common stock (in shares)		(4,400,000)
Repurchases of common stock	(342)			(342)
Net treasury stock issued for share-based awards (in shares)		500,000
Net treasury stock issued for share-based awards	$ (19)		(55)	40	(4)
Other							$ (18)				(18)
Balance (in shares) at Mar. 31, 2020	247,256,855	247,300,000					1,000
Balance at Mar. 31, 2020	$ 9,418	$ 3	$ 6,096	$ (3,901)	$ 7,991	$ (771)	$ 9,380	$ 10	$ 10,302	$ (771)	$ (161)

Commitments and Contingencies - Summary of Commitments (Details) $ in Billions	Mar. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Last nine months of 2020	$ 2.7
2021	5.4
2022	2.2
2023	2.4
2024	1.0
After 2024	11.4
Total commitments	$ 25.1

Employee Benefit Plans

3 Months Ended

Mar. 31, 2020

EMPLOYEE BENEFIT PLANS

Defined Benefit Pension and Other Postretirement Benefit Plans. The Company's net periodic benefit cost includes the following components for the three months ended March 31 (in millions):



	Pension Benefits						Other Postretirement Benefits						Affected Line Item in the Statements of Consolidated Operations
	2020			2019			2020			2019
Service cost	$	54		$	46		$	2		$	2		Salaries and related costs
Interest cost	56			57			7			15			Miscellaneous, net
Expected return on plan assets	(91		)	(72		)	—			—			Miscellaneous, net
Amortization of unrecognized (gain) loss	35			29			(11		)	(15		)	Miscellaneous, net
Amortization of prior service credit	—			—			(31		)	(10		)	Miscellaneous, net
Settlement loss	3			—			—			—			Miscellaneous, net
Total	$	57		$	60		$	(33	)	$	(8	)

Given the impacts of the COVID-19 pandemic, the Company does not plan to make any contributions in 2020 to its two primary defined benefit pension plans, one covering certain pilot employees and another covering certain U.S. non-pilot employees. The Company does not have any minimum required contributions for 2020.

Share-Based Compensation. In the three months ended March 31, 2020, UAL granted share-based compensation awards pursuant to the United Continental Holdings, Inc. 2017 Incentive Compensation Plan. These share-based compensation awards included 0.7 million restricted stock units ("RSUs"), consisting of 0.4 million time-vested RSUs and 0.3 million performance-based RSUs. The time-vested RSUs vest pro-rata, typically on February 28th of each year, over a three-year period from the date of grant. The amount of performance-based RSUs vest upon the achievement of established goals based on the Company's absolute pre-tax margin performance as well as a customer metric based on the Company's relative quarterly average of net promoter scores as compared to a group of industry peers, both of which are measured for the three-year performance period ending December 31, 2022. RSUs are generally equity awards settled in stock for domestic employees and liability awards

settled in cash for international employees. The cash payments are based on the 20-day average closing price of UAL common stock immediately prior to the vesting date.

The table below presents information related to share-based compensation (in millions):



	Three Months Ended March 31,
	2020		2019
Share-based compensation expense	$	18	$	16

	March 31, 2020		December 31, 2019
Unrecognized share-based compensation	$	114	$	77

Special Charges - Components of Special Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Impairment of assets	$ 50	$ 8
Severance and benefit costs	0	6
(Gains) losses on sale of assets and other special charges	13	4
Total operating special charges	63	18
Nonoperating credit loss on BRW Term Loan and related guarantee	697	0
Nonoperating unrealized (gains) losses on investments	319	(17)
Total special charges, credit losses and unrealized (gains) losses on investments, net	1,079	1
Income tax benefit, net of valuation allowance	(14)	0
Total special charges, credit losses and unrealized (gains) losses on investments, net of income taxes	$ 1,065	$ 1

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Components of Accumulated Other Comprehensive Income, Net of Tax

The tables below present the components of the Company's accumulated other comprehensive income (loss), net of tax ("AOCI") (in millions):



	Pension and Other Postretirement Liabilities				Investments and Other			Deferred Taxes			Total
	Pension and Other Postretirement Liabilities				Investments and Other			Deferred Taxes			Total
Balance at December 31, 2019	$	(560	)		$	2		$	(160	)	$	(718	)
Changes in value	(49		)		(16		)	15			(50		)
Amounts reclassified to earnings	(4		)	(a)	—			1			(3		)
Balance at March 31, 2020	$	(613	)		$	(14	)	$	(144	)	$	(771	)

Balance at December 31, 2018	$	(663	)		$	(4	)	$	(136	)	$	(803	)
Changes in value	5				5			(3		)	7
Amounts reclassified to earnings	4			(a)	—			(1		)	3
Balance at March 31, 2019	$	(654	)		$	1		$	(140	)	$	(793	)

(a) This AOCI component is included in the computation of net periodic pension and other postretirement costs (See Note 6 to the financial statements included in Part I, Item 1 for additional information).

Financial Instruments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value [Line Items]
Carrying value of investment	$ 92
Unrealized gain (loss) on derivative asset	$ (24)	$ 3
Asset-Backed Securities \| Minimum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	1 year
Asset-Backed Securities \| Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	15 years
Corporate Debt \| Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	3 years
CDARS
Fair Value [Line Items]
Available-for-sale securities remaining maturities	1 year
U.S. Government and Agency Notes
Fair Value [Line Items]
Available-for-sale securities remaining maturities	3 years
Other Fixed-Income Securities
Fair Value [Line Items]
Available-for-sale securities remaining maturities	2 years
Azul
Fair Value [Line Items]
Equity stake in Azul	2.00%
Gain (loss) on equity securities	$ (293)	$ 14
Carrying value of investment	$ 92
Azul \| Preferred Stock
Fair Value [Line Items]
Equity stake in Azul	8.00%

Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The computations of UAL's basic and diluted earnings (loss) per share are set forth below (in millions, except per share amounts):



	Three Months Ended March 31,
	2020				2019
Earnings (loss) available to common stockholders	$	(1,704	)		$	292

Basic weighted-average shares outstanding	248.5				267.0
Effect of employee stock awards	—			(a)	1.3
Diluted weighted-average shares outstanding	248.5				268.3

Earnings (loss) per share, basic and diluted	$	(6.86	)		$	1.09

(a) In the three months ended March 31, 2020, approximately 0.9 million employee stock awards have been excluded from the computation of the diluted per share amount as they have an anti-dilutive effect.

Debt - Narrative (Details)	Apr. 20, 2020 USD ($)	Apr. 07, 2020 USD ($)	Mar. 20, 2020 USD ($)	Mar. 09, 2020 USD ($)	Mar. 31, 2020 USD ($)
Subsequent Event
Debt Instrument [Line Items]
Total funding provided under the Payroll Support Program	$ 5,000,000,000.0
Used Aircraft Facility \| Secured Debt
Debt Instrument [Line Items]
Face amount				$ 2,000,000,000
Interest rate floor				1.00%
Minimum required unrestricted cash and cash equivalents and unused commitments available				$ 2,000,000,000.0
Minimum required ratio of appraised value of collateral to the outstanding obligations				1.60
Used Aircraft Facility \| Before 180 Days \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate				2.00%
Used Aircraft Facility \| Before 180 Days \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate				1.00%
Used Aircraft Facility \| 180-270 Days \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate				2.25%
Used Aircraft Facility \| 180-270 Days \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate				1.25%
Used Aircraft Facility \| 270 Days and Longer \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate				2.50%
Used Aircraft Facility \| 270 Days and Longer \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate				1.50%
Spare Parts Facility \| Secured Debt
Debt Instrument [Line Items]
Face amount			$ 500,000,000
Interest rate floor			1.00%
Minimum required unrestricted cash and cash equivalents and unused commitments available			$ 2,000,000,000.0
Minimum required ratio of appraised value of collateral to the outstanding obligations			1.80
Minimum required ratio of appraised value of collateral to the outstanding obligations if certain spare parts are used			2.00
Spare Parts Facility \| 90-180 Days \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate			2.75%
Spare Parts Facility \| 90-180 Days \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate			1.75%
Spare Parts Facility \| Before 90 Days \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate			3.00%
Spare Parts Facility \| Before 90 Days \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate			2.00%
Spare Parts Facility \| 180-270 Days \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate			3.25%
Spare Parts Facility \| 180-270 Days \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate			2.25%
Spare Parts Facility \| 270 Days and Longer \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Percent spread on variable rate			3.50%
Spare Parts Facility \| 270 Days and Longer \| Secured Debt \| Alternative Rate
Debt Instrument [Line Items]
Percent spread on variable rate			2.50%
Spare Engines Facility \| Secured Debt \| Subsequent Event
Debt Instrument [Line Items]
Face amount		$ 250,000,000
Interest rate floor		1.00%
Minimum required unrestricted cash and cash equivalents and unused commitments available		$ 2,000,000,000.0
Minimum required ratio of appraised value of collateral to the outstanding obligations		1.40
Spare Engines Facility \| Before 180 Days \| Secured Debt \| LIBOR \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate		3.00%
Spare Engines Facility \| Before 180 Days \| Secured Debt \| Alternative Rate \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate		2.00%
Spare Engines Facility \| 180-270 Days \| Secured Debt \| LIBOR \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate		3.25%
Spare Engines Facility \| 180-270 Days \| Secured Debt \| Alternative Rate \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate		2.25%
Spare Engines Facility \| 270 Days and Longer \| Secured Debt \| LIBOR \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate		3.50%
Spare Engines Facility \| 270 Days and Longer \| Secured Debt \| Alternative Rate \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate		2.50%
PSP Note \| Unsecured Debt \| Subsequent Event
Debt Instrument [Line Items]
Face amount	$ 714,000,000.0
Percent increase in the principal amount based on any disbursement made by the U.S. Treasury Department	30.00%
Aggregate principal amount after all disbursements	$ 1,500,000,000
Term of debt	10 years
PSP Note \| Years 1 through 5 \| Unsecured Debt \| Subsequent Event
Debt Instrument [Line Items]
Stated interest rate	1.00%
PSP Note \| Years 6 through 10 \| Unsecured Debt \| SOFR \| Subsequent Event
Debt Instrument [Line Items]
Percent spread on variable rate	2.00%
Revolving Credit Facility \| United Airlines, Inc. \| Secured Debt
Debt Instrument [Line Items]
Available under revolving credit facility					$ 2,000,000,000.0

Commitments and Contingencies - Firm Commitments and Options to Purchase Aircraft (Details)	Mar. 31, 2020 commitment
Airbus A321XLR
Long-term Purchase Commitment [Line Items]
Number of firm commitments	50
Scheduled Aircraft Deliveries
Last Nine Months of 2020	0
2021	0
After 2021	50
Airbus A350
Long-term Purchase Commitment [Line Items]
Number of firm commitments	45
Scheduled Aircraft Deliveries
Last Nine Months of 2020	0
2021	0
After 2021	45
Boeing 737 MAX
Long-term Purchase Commitment [Line Items]
Number of firm commitments	171
Scheduled Aircraft Deliveries
Last Nine Months of 2020 (if order is lifted)	16
2021 (if order is lifted)	24
Boeing 787
Long-term Purchase Commitment [Line Items]
Number of firm commitments	19
Scheduled Aircraft Deliveries
Last Nine Months of 2020	11
2021	8
After 2021	0
Embraer E175
Long-term Purchase Commitment [Line Items]
Number of firm commitments	20
Scheduled Aircraft Deliveries
Last Nine Months of 2020	16
2021	4
After 2021	0

Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Commitments. As of March 31, 2020, United had firm commitments and options to purchase aircraft from The Boeing Company ("Boeing"), Airbus S.A.S. ("Airbus") and Embraer S.A. ("Embraer") as presented in the table below:



		Scheduled Aircraft Deliveries
Aircraft Type	Number of Firm Commitments (a)	Last Nine Months of 2020	2021	After 2021
Airbus A321XLR	50	—	—	50
Airbus A350	45	—	—	45
Boeing 737 MAX	171	(b)	(b)	(b)
Boeing 787	19	11	8	—
Embraer E175	20	16	4	—
(a) United also has options and purchase rights for additional aircraft.
(b) Deliveries of Boeing 737 MAX aircraft have been delayed due to the FAA Order (defined below). If the FAA Order is lifted in 2020, the Company currently expects to take delivery of approximately 16 Boeing 737 MAX aircraft in 2020 and approximately 24 in 2021.

The aircraft listed in the table above are scheduled for delivery through 2030. To the extent the Company and the aircraft manufacturers with whom the Company has existing orders for new aircraft agree to modify the contracts governing those orders, the amount and timing of the Company's future capital commitments could change. The Company may assign the purchase obligation for each of the 20 Embraer E175 aircraft to one of its regional partners at the time of such aircraft's delivery, subject to certain conditions.

Following the Federal Aviation Administration ("FAA") order issued on March 13, 2019 prohibiting the operation of Boeing 737 MAX series aircraft by U.S. certificated operators ("FAA Order"), Boeing suspended deliveries of new Boeing 737 MAX aircraft. As a result, scheduled deliveries of Boeing 737 MAX series aircraft have been delayed, and the Company expects these delays to continue. The extent of the delay to the scheduled deliveries of new Boeing 737 MAX aircraft is expected to be impacted by the length of time the FAA Order remains in place, Boeing's production rate and the pace at which Boeing can deliver aircraft following the lifting of the FAA Order, among other factors.

In the first quarter of 2020, the Company exercised options for the purchase of seven new Boeing 787 aircraft which are expected to be delivered in 2021. United also has agreements to purchase 20 used Airbus A319 aircraft with expected delivery dates through 2022 and 18 used Boeing 737-700 aircraft with expected delivery dates through 2021.

On April 17, 2020, United entered into an agreement with BOC Aviation (USA) Corporation ("BOCA"), a subsidiary of BOC Aviation Limited, to finance through a sale and leaseback transaction six new Boeing model 787-9 aircraft and 16 new Boeing model 737-9 MAX aircraft which are currently subject to purchase agreements between United and Boeing and are scheduled to be delivered in 2020. United will assign its aircraft purchase agreement rights to BOCA with respect to each aircraft, and simultaneous with each BOCA purchase from Boeing, United will enter into a long-term lease for the aircraft with BOCA.

In March 2020, the Company entered into a confidential settlement with Boeing with respect to compensation for financial damages incurred in 2019 due to the grounding of the Boeing 737 MAX aircraft. The compensation is in the form of credit memos to be issued at future dates upon the satisfaction of certain conditions related to aircraft deliveries. The Company plans to account for this settlement as a reduction to the cost basis of future firm order Boeing 737 MAX aircraft deliveries and previously-delivered Boeing 737 MAX aircraft, which is expected to reduce future depreciation expense associated with these aircraft.

The table below summarizes United's commitments as of March 31, 2020, which include aircraft and related spare engines, aircraft improvements and all non-aircraft capital commitments (in billions):



Last nine months of 2020	$	2.7
2021 (a)	5.4
2022	2.2
2023	2.4
2024	1.0
After 2024	11.4
	$	25.1
(a) 2021 commitments reflect contractually scheduled deliveries for 2021 plus the Boeing 737 MAX deliveries that the Company currently expects will be deferred from 2020. To the extent the Company and Boeing agree to modify the timing of Boeing 737 MAX deliveries, the amount and timing of the Company's future capital commitments could change.

Guarantees. As of March 31, 2020, United is the guarantor of approximately $1.9 billion in aggregate principal amount of tax-exempt special facilities revenue bonds and interest thereon. These bonds, issued by various airport municipalities, are payable solely from rentals paid under long-term agreements with the respective governing bodies. The leasing arrangements associated with these obligations are accounted for as operating leases recognized on the Company's balance sheet with the associated expense recorded on a straight-line basis over the expected lease term. All of these bonds are due between 2020 and 2038.

In connection with funding the BRW Term Loan Agreement, the Company entered into an agreement with Kingsland, pursuant to which, in return for Kingsland's pledge of its 144.8 million common shares of AVH (which are eligible to be converted into the same number of preferred shares, which may be deposited with the depositary for AVH's ADRs, the class of AVH securities that trades on the NYSE, in exchange for 18.1 million ADRs) and its consent to BRW's pledge of its AVH common shares to United under the BRW Term Loan Agreement and related agreements, United (1) granted to Kingsland the right to put its AVH common shares to United at market price on the fifth anniversary of the BRW Term Loan Agreement or upon certain sales of AVH common shares owned by BRW, including upon a foreclosure of United's security interest, and (2) guaranteed BRW's obligation to pay Kingsland the difference (which amount, if paid by United, will increase the BRW Term Loan by such amount) if the market price of AVH common shares on the fifth anniversary, or upon any such sale, as applicable, is less than $12 per ADR on the NYSE, for an aggregate maximum possible combined put payment and guarantee amount on the fifth anniversary of $217 million. In 2018, the Company recorded a liability of $31 million for its guarantee to loan additional funds to BRW if required. Any such additional loans to BRW would be collateralized by BRW's AVH shares and other collateral. Due to AVH's financial uncertainty due to its high level of leverage and the fact that the airline has currently ceased operations due to the COVID-19 pandemic, in March 2020, the Company recorded the full amount under this guarantee with a charge to income of $182 million as part of Nonoperating income (expense): Miscellaneous, net on the Company's statements of consolidated operations.

As of March 31, 2020, United is the guarantor of $129 million of aircraft mortgage debt issued by one of United's regional carriers. The aircraft mortgage debt is subject to similar increased cost provisions as described below for the Company's debt, and the Company would potentially be responsible for those costs under the guarantees.

Increased Cost Provisions. In United's financing transactions that include loans in which United is the borrower, United typically agrees to reimburse lenders for any reduced returns with respect to the loans due to any change in capital requirements and, in the case of loans with respect to which the interest rate is based on the London Interbank Offered Rate ("LIBOR"), for certain other increased costs that the lenders incur in carrying these loans as a result of any change in law, subject, in most

cases, to obligations of the lenders to take certain limited steps to mitigate the requirement for, or the amount of, such increased costs. At March 31, 2020, the Company had $6.0 billion of floating rate debt with remaining terms of up to 11 years that are subject to these increased cost provisions. In several financing transactions involving loans or leases from non-U.S. entities, with remaining terms of up to 11 years and an aggregate balance of $5.8 billion, the Company bears the risk of any change in tax laws that would subject loan or lease payments thereunder to non-U.S. entities to withholding taxes, subject to customary exclusions.

Labor Negotiations. As of March 31, 2020, the Company had approximately 95,200 employees, of whom approximately 83% were represented by various U.S. labor organizations. On February 1, 2019, the collective bargaining agreement with the Air Line Pilots Association ("ALPA"), the labor union representing United's pilots, became amendable. The Company and ALPA are in negotiations for an amended agreement. The Company and UNITE HERE, the labor union representing United's Catering Operations employees, started negotiations for a first collective bargaining agreement in March 2019.

The collective bargaining agreement with the International Brotherhood of Teamsters ("IBT") contains provisions that require the Company to align contract terms with other airlines' workgroups under certain conditions, and a review of these terms is expected to occur in December 2020.

Credit Card Processing Agreements. The Company has agreements with financial institutions that process customer credit card transactions for the sale of air travel and other services. Under certain of the Company's credit card processing agreements, the financial institutions in certain circumstances have the right to require that the Company maintain a reserve equal to a portion of advance ticket sales that has been processed by that financial institution, but for which the Company has not yet provided the air transportation. Such financial institutions may require cash or other collateral reserves to be established or withholding of payments related to receivables to be collected, including if the Company does not maintain certain minimum levels of unrestricted cash, cash equivalents and short-term investments. In light of the effect COVID-19 is having on demand and, in turn, capacity, the Company has seen an increase in demand from consumers for refunds on their tickets, and we anticipate this will continue to be the case for the near future. Refunds lower our liquidity and put us at risk of triggering liquidity covenants in these processing agreements and, in doing so, could force us to post cash collateral with the credit card companies for advance ticket sales.

Label

Element

Value

United Air Lines Inc [Member]

Cumulative Effect of New Accounting Principle in Period of Adoption

us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption

$ (17,000,000)

^[1]

Retained Earnings [Member]

Cumulative Effect of New Accounting Principle in Period of Adoption

us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption

(17,000,000)

^[2]

Retained Earnings [Member] | United Air Lines Inc [Member]

Cumulative Effect of New Accounting Principle in Period of Adoption

us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption

$ (17,000,000)

^[1]

[1]	Transition adjustment due to the adoption of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Transition adjustment due to the adoption of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Commitments and Contingencies - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2020 USD ($) aircraft employee commitment	Mar. 31, 2020 USD ($) aircraft employee commitment	Apr. 17, 2020 aircraft	Dec. 31, 2018 USD ($)	Nov. 30, 2018 USD ($) $ / shares shares
Commitments and Contingencies [Line Items]
Remaining term of debt		11 years
United Airlines, Inc.
Commitments and Contingencies [Line Items]
Number of employees \| employee	95,200	95,200
Percentage of employees represented by various U.S. labor organizations		83.00%
Kingsland
Commitments and Contingencies [Line Items]
Number of shares that may be put to United (in shares) \| shares					144.8
Number of ADRs that may be put into United (in shares) \| shares					18.1
Market price of common stock at fifth anniversary (in dollars per share) \| $ / shares					$ 12
Aggregate maximum possible combined put payment and guarantee amount					$ 217
Liability for the fair value of guarantees				$ 31
Additional expense recorded for guarantee	$ 182
Tax-Exempt Special Facilities Revenue Bonds
Commitments and Contingencies [Line Items]
Aggregate principal amount of guarantee	1,900	$ 1,900
Aircraft Mortgage Debt
Commitments and Contingencies [Line Items]
Aggregate principal amount of guarantee	129	129
Floating Rate Debt
Commitments and Contingencies [Line Items]
Debt	6,000	$ 6,000
Loans and Leases from Non-U.S. Entities
Commitments and Contingencies [Line Items]
Remaining term of debt		11 years
Aggregate balance	$ 5,800	$ 5,800
Airbus A319
Commitments and Contingencies [Line Items]
Number of aircraft committed to purchase \| aircraft	20	20
Boeing 737-700
Commitments and Contingencies [Line Items]
Number of aircraft committed to purchase \| aircraft	18	18
Boeing 787
Commitments and Contingencies [Line Items]
Number of aircraft committed to purchase \| commitment	19	19
Number of aircraft purchase options exercised \| aircraft		7
Boeing 787 \| Subsequent Event
Commitments and Contingencies [Line Items]
Number of aircraft subject to purchase rights assignment agreement \| aircraft			6
Boeing 737 MAX
Commitments and Contingencies [Line Items]
Number of aircraft committed to purchase \| commitment	171	171
Boeing 737 MAX \| Subsequent Event
Commitments and Contingencies [Line Items]
Number of aircraft subject to purchase rights assignment agreement \| aircraft			16
Embraer E175
Commitments and Contingencies [Line Items]
Number of aircraft committed to purchase \| commitment	20	20
Number of aircraft no longer expected to be assigned \| aircraft	20	20

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The tables below present the components of the Company's accumulated other comprehensive income (loss), net of tax ("AOCI") (in millions):



	Pension and Other Postretirement Liabilities				Investments and Other			Deferred Taxes			Total
	Pension and Other Postretirement Liabilities				Investments and Other			Deferred Taxes			Total
Balance at December 31, 2019	$	(560	)		$	2		$	(160	)	$	(718	)
Changes in value	(49		)		(16		)	15			(50		)
Amounts reclassified to earnings	(4		)	(a)	—			1			(3		)
Balance at March 31, 2020	$	(613	)		$	(14	)	$	(144	)	$	(771	)

Balance at December 31, 2018	$	(663	)		$	(4	)	$	(136	)	$	(803	)
Changes in value	5				5			(3		)	7
Amounts reclassified to earnings	4			(a)	—			(1		)	3
Balance at March 31, 2019	$	(654	)		$	1		$	(140	)	$	(793	)

Recently Issued Accounting Standards (Policies)

3 Months Ended

Mar. 31, 2020

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recently Issued Accounting Standards

The Company adopted Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses ("ASU 2016-13") effective January 1, 2020. ASU 2016-13 replaces the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to calculate credit loss estimates. For trade receivables, loans and held-to-maturity debt securities, entities are required to estimate lifetime expected credit losses. For available-for-sale debt securities, entities are required to recognize an allowance for credit losses rather than a reduction to the carrying value of the asset. The Company made a $17 million cumulative-effect adjustment, net of related income taxes, to its retained earnings balance on January 1, 2020 as a result of this adoption. See Notes 7, 8, 9 and 11 to the financial statements included in Part I, Item 1 for additional disclosures about the impact of ASU 2016-13 on our first quarter results.

Fair Value of Financial Instruments

Fair value of the financial instruments included in the tables above was determined as follows:



Description	Fair Value Methodology
Cash and cash equivalents	The carrying amounts approximate fair value because of the short-term maturity of these assets.
Short-term investments, other than Other investments measured at NAV, Equity securities and Restricted cash	Fair value is based on (a) the trading prices of the investment or similar instruments, (b) an income approach, which uses valuation techniques to convert future amounts into a single present amount based on current market expectations about those future amounts when observable trading prices are not available, or (c) broker quotes obtained by third-party valuation services.
Other investments measured at NAV	In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.
AVH Derivative Assets	Fair values are calculated using a Monte Carlo simulation approach. Unobservable inputs include expected volatility, expected dividend yield and control and acquisition premiums.
Long-term debt	Fair values were based on either market prices or the discounted amount of future cash flows using our current incremental rate of borrowing for similar liabilities or assets.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's effective tax rate for the three months ended March 31, 2020 and 2019 was 19.4% and 20.4%, respectively. The provision for income taxes is based on the estimated annual effective tax rate which represents a blend of federal, state and foreign taxes and includes the impact of certain nondeductible items and the impact of a change in the Company's mix of domestic and foreign earnings (losses). The first quarter 2020 rate was impacted by a $66 million valuation allowance related to unrealized capital losses.

Special Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Special charge related to wind-down	$ 63	$ 18
Nonoperating credit loss on BRW Term Loan and related guarantee	697	0
Nonoperating unrealized losses on investments	319	(17)
Loss recorded for the change in fair value of certain derivative assets	24
Fair value adjustment for aircraft purchased off lease		8
Severance and benefit costs	0	6
Gain for the change in fair value of certain derivative assets		3
Azul
Restructuring Cost and Reserve [Line Items]
Gain (loss) for the change in fair value of equity investments	(293)	14
Management
Restructuring Cost and Reserve [Line Items]
Severance and benefit costs		4
Trans States Airlines
Restructuring Cost and Reserve [Line Items]
Special charge related to wind-down	10
Transition of Fleet Types within Other Regional Carrier Contracts
Restructuring Cost and Reserve [Line Items]
Special charges	3
Voluntary Early-Out Program \| International Brotherhood of Teamsters
Restructuring Cost and Reserve [Line Items]
Severance and benefit costs		$ 2
Term Loan Receivable \| BRW
Restructuring Cost and Reserve [Line Items]
Nonoperating credit loss on BRW Term Loan and related guarantee	697
Routes
Restructuring Cost and Reserve [Line Items]
Fair value of indefinite-lived intangible assets	1,100
Impairment of intangible assets	$ 50

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 54	$ 46
Interest cost	56	57
Expected return on plan assets	(91)	(72)
Amortization of unrecognized (gain) loss	35	29
Amortization of prior service credit	0	0
Settlement loss	3	0
Total	57	60
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	2
Interest cost	7	15
Expected return on plan assets	0	0
Amortization of unrecognized (gain) loss	(11)	(15)
Amortization of prior service credit	(31)	(10)
Settlement loss	0	0
Total	$ (33)	$ (8)

Revenue - Roll Forward of Frequent Flyer Deferred Revenue (Details) - Frequent Flyer - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Frequent Flyer Deferred Revenue [Roll Forward]
Total Frequent flyer deferred revenue - beginning balance	$ 5,276	$ 5,005
Total miles awarded	559	607
Travel miles redeemed (Passenger revenue)	(322)	(438)
Non-travel miles redeemed (Other operating revenue)	(25)	(36)
Total Frequent flyer deferred revenue - ending balance	$ 5,488	$ 5,138

Employee Benefit Plans - Information Related to Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Employee-related Liabilities [Abstract]
Share-based compensation expense	$ 18	$ 16
Unrecognized share-based compensation	$ 114		$ 77

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 30, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-06033
Entity Registrant Name	United Airlines Holdings, Inc.
Entity Central Index Key	0000100517
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2675207
Entity Address, Address Line One	233 South Wacker Drive,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	(872)
Local Phone Number	825-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock,
Trading Symbol	UAL
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		290,432,163
United Airlines, Inc.
Entity Information [Line Items]
Entity File Number	001-10323
Entity Registrant Name	United Airlines, Inc.
Entity Central Index Key	0000319687
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2099724
Entity Address, Address Line One	233 South Wacker Drive,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	(872)
Local Phone Number	825-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,000

Recently Issued Accounting Standards (Details)
$ in Millions

Jan. 01, 2020

USD ($)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

$ (17)

^[1]

ASU 2016-13

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

$ (17)

[1]	Transition adjustment due to the adoption of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Special Charges

3 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

SPECIAL CHARGES

For the three months ended March 31, special charges, certain credit losses and unrealized gains and losses on investments in the statements of consolidated operations consisted of the following (in millions):



	Three Months Ended March 31,
	2020			2019
Impairment of assets	$	50		$	8
Severance and benefit costs	—			6
(Gains) losses on sale of assets and other special charges	13			4
Total operating special charges	63			18
Nonoperating credit loss on BRW Term Loan and related guarantee	697			—
Nonoperating unrealized (gains) losses on investments	319			(17		)
Total special charges, credit losses and unrealized (gains) losses on investments, net	1,079			1
Income tax benefit, net of valuation allowance	(14		)	—
Total special charges, credit losses and unrealized (gains) losses on investments, net of income taxes	$	1,065		$	1

2020

Impairment of assets. United assesses its goodwill and intangible assets for potential impairment on an annual basis as of October 1, and on an interim basis if there are indicators that an impairment of goodwill or the intangible assets may have occurred. In the first quarter of 2020, the Company evaluated its goodwill and intangible assets for possible impairments due to the impact of the COVID-19 pandemic on UAL's market capitalization and cash flow projections. For goodwill and certain of its intangible assets, including the Company's China routes, London-Heathrow slots, alliances and the United trade name and logo, the Company performed a quantitative assessment which involved determining the fair value of the asset and comparing that amount to the asset's carrying value and, in the case of goodwill, comparing the Company's fair value to its carrying value. For all other intangible assets, the Company performed a qualitative assessment of whether it was more likely than not that an impairment had occurred. To determine fair value, the Company used discounted cash flow methods appropriate for each asset. Key inputs into the models included forecasted capacity, revenues, fuel costs, other operating costs and an overall discount rate. The assumptions used for future projections include that demand will remain suppressed for the remainder of 2020 and likely into 2021. These assumptions are inherently uncertain as they relate to future events and circumstances. In light of the ongoing

impact of the COVID-19 pandemic on both the U.S. and global economies, and the significant, sustained impact on the demand for travel, the exact timing of the recovery from the COVID-19 pandemic, and the speed at which such recovery could occur, continues to remain uncertain and could result in additional impairment charges in the future. We expect to continue to modify our cost management structure, liquidity-raising efforts and capacity as the timing of demand recovery becomes more certain.

As a result of the impairment assessments, the Company determined that its China routes fair value was $1.1 billion, which was lower than the carrying value of these routes. As a result, during the three months ended March 31, 2020, the Company recorded a $50 million impairment for its China routes which was primarily caused by the COVID-19 pandemic and the Company's subsequent suspension of flights to China. The China routes are subject to provisions that require the Company to maintain a certain level of flying to maintain its rights to use the routes. The Company has received waivers from the Chinese government to retain its rights to continue operating the routes despite the suspension of flying and we expect to continue to receive waivers until flying resumes. No other impairments were recorded.

In response to decreased demand caused by the COVID-19 pandemic, the Company has temporarily grounded certain of its mainline fleet. As required under relevant accounting standards, United performed forecasted cash flow analyses and determined that as of March 31, 2020 the carrying value of the tested fleets is recoverable from future cash flows expected to be generated by those fleets. To determine whether impairments exist for active and temporarily parked aircraft, we group assets at the fleet-type level. To the extent we make decisions to permanently ground any of our fleet, or our estimates of future cash flows generated by our fleet change, we may be required to record impairment charges in future periods.

Gains (loss) on sale of other assets and other special charges. During the three months ended March 31, 2020, the Company recorded a $10 million one-time special charge related to the wind-down of the capacity purchase agreement with Trans States Airlines, LLC and $3 million for costs related to the transition of fleet types within other regional carrier contracts.

Nonoperating credit loss on BRW Term Loan and related guarantee. During the three months ended March 31, 2020, the Company recorded a $697 million expected credit loss allowance for the BRW Term Loan and related guarantee. United recorded the allowance based on United's assessment of AVH's financial uncertainty due to its high level of leverage and the fact that the airline has currently ceased operations due to the COVID-19 pandemic. BRW's equity and BRW's holdings of AVH equity are secured as a pledge under the BRW Term Loan, which is currently in default.

Nonoperating unrealized gains (losses) on investments, net. During the three months ended March 31, 2020, the Company recorded losses of $319 million primarily for the $293 million decrease in the market value of its investment in Azul and $24 million for the decrease in fair value of the AVH Derivative Assets.

2019

Impairment of assets. During the three months ended March 31, 2019, the Company recorded an $8 million fair value adjustment for aircraft purchased off lease.

Severance and benefit costs. During the three months ended March 31, 2019, the Company recorded $2 million of severance and benefit costs related to a voluntary early-out program for its technicians and related employees represented by the IBT and management severance of $4 million.

Nonoperating unrealized gains (losses) on investments, net. During the three months ended March 31, 2019, the Company recorded gains of $14 million for the change in the market value of its equity investment in Azul and gains of $3 million for the change in fair value of the AVH Derivative Assets.

Statements of Consolidated Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income (loss)	$ (1,704)	$ 292
Other comprehensive income (loss), net of tax:
Employee benefit plans	(41)	7
Investments and other	(12)	3
Total other comprehensive income (loss), net of tax	(53)	10
Total comprehensive income (loss), net	(1,757)	302
United Airlines, Inc.
Net income (loss)	(1,704)	293
Other comprehensive income (loss), net of tax:
Employee benefit plans	(41)	7
Investments and other	(12)	3
Total other comprehensive income (loss), net of tax	(53)	10
Total comprehensive income (loss), net	$ (1,757)	$ 303

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Statements of Consolidated Cash Flows (Unaudited) (Parenthetical) - USD ($)
$ in Millions

Mar. 31, 2020

Dec. 31, 2019

Mar. 31, 2019

Reconciliation of cash, cash equivalents and restricted cash:

Cash and cash equivalents

$ 3,442

$ 2,762

$ 1,848

Restricted cash

106

103

Total cash, cash equivalents and restricted cash

3,548

^[1]

2,868

1,951

^[1]

United Airlines, Inc.

Reconciliation of cash, cash equivalents and restricted cash:

Cash and cash equivalents

3,436

2,756

1,842

Restricted cash

106

103

Total cash, cash equivalents and restricted cash

$ 3,542

^[2]

$ 2,862

$ 1,945

^[2]

[1]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:



Cash and cash equivalents	$	3,442	$	1,848
Restricted cash	106		103
Total cash, cash equivalents and restricted cash	$	3,548	$	1,951

[2]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:



Cash and cash equivalents	$	3,436	$	1,842
Restricted cash	106		103
Total cash, cash equivalents and restricted cash	$	3,542	$	1,945

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	19.40%	20.40%
Valuation allowance	$ 66

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2020

Components of Net Periodic Benefit Cost

The Company's net periodic benefit cost includes the following components for the three months ended March 31 (in millions):



	Pension Benefits						Other Postretirement Benefits						Affected Line Item in the Statements of Consolidated Operations
	2020			2019			2020			2019
Service cost	$	54		$	46		$	2		$	2		Salaries and related costs
Interest cost	56			57			7			15			Miscellaneous, net
Expected return on plan assets	(91		)	(72		)	—			—			Miscellaneous, net
Amortization of unrecognized (gain) loss	35			29			(11		)	(15		)	Miscellaneous, net
Amortization of prior service credit	—			—			(31		)	(10		)	Miscellaneous, net
Settlement loss	3			—			—			—			Miscellaneous, net
Total	$	57		$	60		$	(33	)	$	(8	)

The table below presents information related to share-based compensation (in millions):



	Three Months Ended March 31,
	2020		2019
Share-based compensation expense	$	18	$	16

	March 31, 2020		December 31, 2019
Unrecognized share-based compensation	$	114	$	77

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Revenue From Contract With Customer [Line Items]
Expiration period for electronic travel certificates	24 months
Operating revenue	$ 7,979	$ 9,589
Advance Ticket Sales
Revenue From Contract With Customer [Line Items]
Revenue recognized	2,600	2,700
Ancillary Fees
Revenue From Contract With Customer [Line Items]
Operating revenue	476	571
Other Operating Revenue
Revenue From Contract With Customer [Line Items]
Operating revenue	650	578
Other Operating Revenue \| Chase and Other Partner Agreements
Revenue From Contract With Customer [Line Items]
Operating revenue	$ 530	$ 473

Financial Instruments and Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in UAL's financial statements (in millions):



	March 31, 2020								December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	3,442	$	3,442	$	—	$	—	$	2,762	$	2,762	$	—	$	—
Short-term investments:
Corporate debt	980		—		980		—		1,045		—		1,045		—
Asset-backed securities	610		—		610		—		690		—		690		—
U.S. government and agency notes	95		—		95		—		124		—		124		—
Certificates of deposit placed through an account registry service ("CDARS")	24		—		24		—		35		—		35		—
Other fixed-income securities	70		—		70		—		95		—		95		—
Other investments measured at net asset value ("NAV")	—		—		—		—		193		—		—		—
Restricted cash	106		106		—		—		106		106		—		—
Long-term investments:
Equity securities	92		92		—		—		385		385		—		—
AVH Derivative Assets	—		—		—		—		24		—		—		24
Other assets	16		—		—		16		—		—		—		—

Available-for-sale investment maturities - The short-term investments shown in the table above are classified as available-for-sale, with the exception of investments measured at NAV. As of March 31, 2020, asset-backed securities have remaining maturities of less than one year to approximately 15 years, corporate debt securities have remaining maturities of three years or less and CDARS have maturities of less than one year. U.S. government and agency notes have maturities of approximately three years or less and other fixed-income securities have maturities of less than two years.

Restricted cash - Restricted cash primarily includes collateral for letters of credit and collateral associated with facility leases and other insurance-related obligations.

Equity securities - Equity securities represent United's investment in Azul Linhas Aéreas Brasileiras S.A. ("Azul"), consisting of a preferred equity stake of approximately 8% (approximately 2% of the total capital stock of Azul). The Company recorded $293 million of losses and $14 million in gains during the three months ended March 31, 2020 and 2019, respectively, for changes to the fair market value of its equity investment in Azul in Unrealized gains (losses) on investments, net in the Company's statements of consolidated operations. The carrying value of our investment in Azul was $92 million at March 31, 2020.

AVH Derivative Assets - As part of the BRW Loan Agreement and related agreements with Kingsland, United obtained AVH share call options, AVH share appreciation rights and an AVH share-based upside sharing agreement (collectively, the "AVH Derivative Assets"). The AVH Derivative Assets are recorded at fair value as Other assets on the Company's balance sheet and are included in the table above. The Company recorded $24 million in losses and $3 million in gains during the three months ended March 31, 2020 and 2019, respectively, in the fair value of the AVH Derivative Assets in Unrealized gains (losses) on investments, net in the Company's statements of consolidated operations.

Investments presented in the table above have the same fair value as their carrying value.

Other fair value information. The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions). Carrying amounts include any related discounts, premiums and issuance costs:



	March 31, 2020										December 31, 2019
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
Long-term debt	$	17,253	$	15,768	$	—	$	12,524	$	3,244	$	14,552	$	15,203	$	—	$	11,398	$	3,805

Fair value of the financial instruments included in the tables above was determined as follows:



Description	Fair Value Methodology
Cash and cash equivalents	The carrying amounts approximate fair value because of the short-term maturity of these assets.
Short-term investments, other than Other investments measured at NAV, Equity securities and Restricted cash	Fair value is based on (a) the trading prices of the investment or similar instruments, (b) an income approach, which uses valuation techniques to convert future amounts into a single present amount based on current market expectations about those future amounts when observable trading prices are not available, or (c) broker quotes obtained by third-party valuation services.
Other investments measured at NAV	In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.
AVH Derivative Assets	Fair values are calculated using a Monte Carlo simulation approach. Unobservable inputs include expected volatility, expected dividend yield and control and acquisition premiums.
Long-term debt	Fair values were based on either market prices or the discounted amount of future cash flows using our current incremental rate of borrowing for similar liabilities or assets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in UAL's financial statements (in millions):



	March 31, 2020								December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	3,442	$	3,442	$	—	$	—	$	2,762	$	2,762	$	—	$	—
Short-term investments:
Corporate debt	980		—		980		—		1,045		—		1,045		—
Asset-backed securities	610		—		610		—		690		—		690		—
U.S. government and agency notes	95		—		95		—		124		—		124		—
Certificates of deposit placed through an account registry service ("CDARS")	24		—		24		—		35		—		35		—
Other fixed-income securities	70		—		70		—		95		—		95		—
Other investments measured at net asset value ("NAV")	—		—		—		—		193		—		—		—
Restricted cash	106		106		—		—		106		106		—		—
Long-term investments:
Equity securities	92		92		—		—		385		385		—		—
AVH Derivative Assets	—		—		—		—		24		—		—		24
Other assets	16		—		—		16		—		—		—		—

Carrying Values and Estimated Fair Values of Financial Instruments

The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions). Carrying amounts include any related discounts, premiums and issuance costs:



	March 31, 2020										December 31, 2019
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
Long-term debt	$	17,253	$	15,768	$	—	$	12,524	$	3,244	$	14,552	$	15,203	$	—	$	11,398	$	3,805

BRW Term Loan	3 Months Ended
BRW Term Loan	Mar. 31, 2020
Receivables [Abstract]
BRW Term Loan	BRW TERM LOAN BRW Term Loan. In November 2018, United, as lender, entered into a Term Loan Agreement (the "BRW Term Loan Agreement") with, among others, BRW Aviation Holding LLC and BRW Aviation LLC ("BRW"), as guarantor and borrower, respectively. BRW Aviation Holding LLC and BRW are affiliates of Synergy Aerospace Corporation ("Synergy"), and BRW is the majority shareholder of Avianca Holdings S.A. ("AVH"). Pursuant to the BRW Term Loan Agreement, United provided to BRW a $456 million term loan (the "BRW Term Loan"), secured by a pledge of BRW's equity, as well as BRW's 516 million common shares of AVH (which are eligible to be converted into the same number of preferred shares, which may be deposited with the depositary for AVH's American Depositary Receipts ("ADRs"), the class of AVH securities that trades on the New York Stock Exchange (the "NYSE"), in exchange for 64.5 million ADRs) (such equity and shares, collectively, the "BRW Loan Collateral"). BRW is currently in default under the BRW Term Loan Agreement. In order to protect the value of its collateral, on May 24, 2019, United began to exercise certain remedies available to it under the terms of the BRW Term Loan Agreement and related documents. In connection with the delivery by United of a notice of default to BRW, Kingsland Holdings Limited ("Kingsland"), AVH's largest minority shareholder, was granted, in accordance with the agreements related to the BRW Term Loan Agreement, authority to manage BRW, which remains the majority shareholder of AVH. In addition, Kingsland is pursuing a foreclosure process and a judicially supervised sale of the BRW Loan Collateral. United recorded a full credit loss allowance against the $515 million carrying value of the BRW Term Loan and related receivables as of March 31, 2020. United recorded the allowance based on United's assessment of AVH's financial uncertainty due to its high level of leverage and the fact that the airline has currently ceased operations due to the COVID-19 pandemic. The credit loss allowance was recorded as part of Nonoperating income (expense): Miscellaneous, net on the Company's statements of consolidated operations. In connection with funding the BRW Term Loan Agreement, the Company entered certain other agreements with Kingsland. See Note 9 to the financial statements included in Part I, Item I for additional information regarding our obligations to Kingsland and their interrelationship with the BRW Term Loan Agreement.

Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Operating Revenue by Geographic Region

The table below presents the Company's operating revenue by principal geographic region (as defined by the U.S. Department of Transportation) (in millions):



	Three Months Ended March 31,
	2020		2019
Domestic (U.S. and Canada)	$	5,078	$	5,875
Atlantic	1,215		1,458
Pacific	806		1,281
Latin America	880		975
Total	$	7,979	$	9,589

Roll Forward of Frequent Flyer Deferred Revenue

The table below presents a roll forward of Frequent flyer deferred revenue (in millions):



	Three Months Ended March 31,
	2020			2019
Total Frequent flyer deferred revenue - beginning balance	$	5,276		$	5,005
Total miles awarded	559			607
Travel miles redeemed (Passenger revenue)	(322		)	(438		)
Non-travel miles redeemed (Other operating revenue)	(25		)	(36		)
Total Frequent flyer deferred revenue - ending balance	$	5,488		$	5,138

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 3,442	$ 2,762
Short-term investments	1,779	2,182
Receivables, less allowance for credit losses (2020 — $30; 2019 — $9)	792	1,364
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2020 — $446; 2019 — $425)	1,070	1,072
Prepaid expenses and other	822	814
Total current assets	7,905	8,194
Operating property and equipment:
Flight equipment	36,763	35,421
Other property and equipment	8,200	7,926
Purchase deposits for flight equipment	1,859	1,360
Total operating property and equipment	46,822	44,707
Less — Accumulated depreciation and amortization	(15,011)	(14,537)
Total operating property and equipment, net	31,811	30,170
Operating lease right-of-use assets	4,853	4,758
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization (2020 — $1,454; 2019 — $1,440)	2,945	3,009
Restricted cash	106	106
Notes receivable, less allowance for credit losses (2020 — $549)	149	671
Investments in affiliates and other, net	763	1,180
Total other assets	8,486	9,489
Total assets	53,055	52,611
Current liabilities:
Advance ticket sales	5,309	4,819
Accounts payable	2,436	2,703
Frequent flyer deferred revenue	1,355	2,440
Accrued salaries and benefits	1,647	2,271
Current maturities of long-term debt	4,055	1,407
Current maturities of finance leases	59	46
Current maturities of operating leases	688	686
Other	538	566
Total current liabilities	16,087	14,938
Long-term debt	13,198	13,145
Long-term obligations under finance leases	369	220
Long-term obligations under operating leases	5,060	4,946
Other liabilities and deferred credits:
Frequent flyer deferred revenue	4,133	2,836
Postretirement benefit liability	775	789
Pension liability	1,514	1,446
Deferred income taxes	1,322	1,736
Other	1,179	1,024
Total other liabilities and deferred credits	8,923	7,831
Commitments and contingencies
Stockholders' equity:
Preferred stock	0	0
Common stock at par, $0.01 par value; authorized 1,000,000,000 shares; outstanding 247,256,855 and 251,216,381 shares at March 31, 2020 and December 31, 2019, respectively	3	3
Additional capital invested	6,096	6,129
Retained earnings	7,991	9,716
Stock held in treasury, at cost	(3,901)	(3,599)
Accumulated other comprehensive loss	(771)	(718)
Total stockholders' equity	9,418	11,531
Total liabilities and stockholders' equity	53,055	52,611
United Airlines, Inc.
Current assets:
Cash and cash equivalents	3,436	2,756
Short-term investments	1,779	2,182
Receivables, less allowance for credit losses (2020 — $30; 2019 — $9)	792	1,364
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2020 — $446; 2019 — $425)	1,070	1,072
Prepaid expenses and other	822	814
Total current assets	7,899	8,188
Operating property and equipment:
Flight equipment	36,763	35,421
Other property and equipment	8,200	7,926
Purchase deposits for flight equipment	1,859	1,360
Total operating property and equipment	46,822	44,707
Less — Accumulated depreciation and amortization	(15,011)	(14,537)
Total operating property and equipment, net	31,811	30,170
Operating lease right-of-use assets	4,853	4,758
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization (2020 — $1,454; 2019 — $1,440)	2,945	3,009
Restricted cash	106	106
Notes receivable, less allowance for credit losses (2020 — $549)	149	671
Investments in affiliates and other, net	763	1,180
Total other assets	8,486	9,489
Total assets	53,049	52,605
Current liabilities:
Advance ticket sales	5,309	4,819
Accounts payable	2,436	2,703
Frequent flyer deferred revenue	1,355	2,440
Accrued salaries and benefits	1,647	2,271
Current maturities of long-term debt	4,055	1,407
Current maturities of finance leases	59	46
Current maturities of operating leases	688	686
Other	542	571
Total current liabilities	16,091	14,943
Long-term debt	13,198	13,145
Long-term obligations under finance leases	369	220
Long-term obligations under operating leases	5,060	4,946
Other liabilities and deferred credits:
Frequent flyer deferred revenue	4,133	2,836
Postretirement benefit liability	775	789
Pension liability	1,514	1,446
Deferred income taxes	1,350	1,763
Other	1,179	1,025
Total other liabilities and deferred credits	8,951	7,859
Commitments and contingencies
Stockholders' equity:
Common stock at par, $0.01 par value; authorized 1,000,000,000 shares; outstanding 247,256,855 and 251,216,381 shares at March 31, 2020 and December 31, 2019, respectively	0	0
Additional capital invested	10	0
Retained earnings	10,302	12,353
Accumulated other comprehensive loss	(771)	(718)
Receivable from related parties	(161)	(143)
Total stockholders' equity	9,380	11,492
Total liabilities and stockholders' equity	$ 53,049	$ 52,605

Debt

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

DEBT

As of March 31, 2020, United had its entire capacity of $2.0 billion available under the revolving credit facility of the Amended and Restated Credit and Guaranty Agreement.

EETCs. In September 2019, United created enhanced equipment trust certificate ("EETC") pass-through trusts, each of which issued pass-through certificates. The proceeds from the issuance of the pass-through certificates are used to purchase equipment notes issued by United and secured by its aircraft financed with the proceeds of such notes. The Company records the debt obligation upon issuance of the equipment notes rather than upon the initial issuance of the pass-through certificates. The pass-through certificates represent fractional undivided interests in the respective pass-through trusts and are not obligations of United. The payment obligations under the equipment notes are those of United. Proceeds received from the sale of pass-through certificates are initially held by a depositary in escrow for the benefit of the certificate holders until United issues equipment notes to the trust, which purchases such notes with a portion of the escrowed funds. These escrowed funds are not guaranteed by United and are not reported as debt on our consolidated balance sheet because the proceeds held by the depositary are not United's assets. Certain details of the pass-through trusts with proceeds received from issuance of debt in 2020 are as follows (in millions, except stated interest rate):



EETC Issuance Date	Class	Face Amount		Stated interest rate	Total proceeds received from issuance of debt during 2020		Total debt recorded as of March 31, 2020
September 2019	AA	$	702	2.70%	$	189	$	702
September 2019	A	287		2.90%	77		287
September 2019	B	232		3.50%	62		232
		$	1,221		$	328	$	1,221

Used Aircraft Facility. On March 9, 2020, the Company entered into a Term Loan Credit and Guaranty Agreement (the "Used Aircraft Credit Agreement"), among United, as borrower, UAL, as parent and guarantor, the subsidiaries of UAL other than United party thereto from time to time, as guarantors, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent. The obligations of United under the Used Aircraft Credit Agreement are secured by liens on certain aircraft of United and certain related assets. United borrowed the full amount of $2 billion under the Used Aircraft

Credit Agreement (the "Used Aircraft Facility"). The principal amount of the Used Aircraft Facility must be repaid in a single installment on the maturity date on March 8, 2021. Borrowings under the Used Aircraft Credit Agreement bear interest at a variable rate equal to LIBOR (but not less than 1% per annum), plus a margin of 2.00%, 2.25% or 2.50% per annum, or (at United's election) another rate based on certain market interest rates, plus a margin of 1.00%, 1.25% or 1.50% per annum, in each case, with such incremental increase to the margin occurring at 180 days and 270 days, as applicable. The Used Aircraft Credit Agreement includes covenants that restrict the Company's ability to, among other things, make investments and to pay dividends on, or to repurchase, UAL common stock. In addition, the Used Aircraft Credit Agreement requires the Company to maintain unrestricted cash and cash equivalents and unused commitments available under all revolving credit facilities aggregating not less than $2.0 billion and to maintain a minimum ratio of appraised value of collateral to outstanding obligations under the Used Aircraft Credit Agreement of 1.60 to 1. If the Company does not meet the minimum collateral coverage ratio when required, it must either provide additional collateral to secure its obligations under the Used Aircraft Credit Agreement or repay the loans under the Used Aircraft Credit Agreement (or both) to the extent necessary to maintain compliance with the collateral coverage ratio.

Spare Parts Facility. On March 20, 2020, the Company entered into a Term Loan Credit and Guaranty Agreement (the "Spare Parts Credit Agreement"), among United, as borrower, UAL, as parent and guarantor, the subsidiaries of UAL other than United party thereto from time to time, as guarantors, the lenders party thereto from time to time and Goldman Sachs Bank USA, as administrative agent. The obligations of United under the Spare Parts Credit Agreement are secured by liens on certain spare parts of United and certain related assets. United borrowed the full amount of $500 million under the Spare Parts Credit Agreement (the "Spare Parts Facility"). The principal amount of the Spare Parts Facility must be repaid in a single installment on the maturity date on March 22, 2021. Borrowings under the Spare Parts Credit Agreement bear interest at a variable rate equal to LIBOR (but not less than 1% per annum), plus a margin of 2.75%, 3.00%, 3.25% or 3.50% per annum, or (at United's election) another rate based on certain market interest rates, plus a margin of 1.75%, 2.00%, 2.25% or 2.50% per annum, in each case, with such incremental increase to the margin occurring at 90 days, 180 days and 270 days, as applicable. The Spare Parts Credit Agreement includes covenants that restrict the Company's ability to, among other things, make investments and to pay dividends on, or to repurchase, UAL common stock. In addition, the Spare Parts Credit Agreement requires the Company to maintain unrestricted cash and cash equivalents and unused commitments available under all revolving credit facilities aggregating not less than $2.0 billion and to maintain a minimum ratio of appraised value of collateral to outstanding obligations under the Spare Parts Credit Agreement of 1.80 to 1 or, if certain types of spare parts are used in calculating such collateral coverage ratio, 2.00 to 1. If the Company does not meet the minimum collateral coverage ratio when required, it must either provide additional collateral to secure its obligations under the Spare Parts Credit Agreement or repay the loans under the Spare Parts Credit Agreement (or both) to the extent necessary to maintain compliance with the collateral coverage ratio.

Spare Engines Facility. On April 7, 2020, the Company entered into a Term Loan Credit and Guaranty Agreement (the "Spare Engines Credit Agreement"), among United, as borrower, UAL, as parent and guarantor, the subsidiaries of UAL other than United party thereto from time to time, as guarantors, the lenders party thereto from time to time and Bank of America, N.A., as administrative agent. The obligations of United under the Spare Engines Credit Agreement are secured by liens on certain spare engines of United and certain related assets. United borrowed the full amount of $250 million under the Spare Engines Credit Agreement (the "Spare Engines Facility"). The principal amount of the Spare Engines Facility must be repaid in a single installment on the maturity date on April 6, 2021. Borrowings under the Spare Engines Credit Agreement bear interest at a variable rate equal to LIBOR (but not less than 1% per annum), plus a margin of 3.00%, 3.25% or 3.50% per annum, or (at United's election) another rate based on certain market interest rates, plus a margin of 2.00%, 2.25% or 2.50% per annum, in each case, with such incremental increase to the margin occurring at 180 days and 270 days, as applicable. The Spare Engines Credit Agreement includes covenants that restrict the Company's ability to, among other things, make investments and to pay dividends on, or to repurchase, UAL common stock. In addition, the Spare Engines Credit Agreement requires the Company to maintain unrestricted cash and cash equivalents and unused commitments available under all revolving credit facilities aggregating not less than $2.0 billion and to maintain a minimum ratio of appraised value of collateral to outstanding obligations under the Spare Engines Credit Agreement of 1.40 to 1. If the Company does not meet the minimum collateral coverage ratio when required, it must either provide additional collateral to secure its obligations under the Spare Engines Credit Agreement or repay the loans under the Spare Engines Credit Agreement (or both) to the extent necessary to maintain compliance with the collateral coverage ratio.

PSP Note. On April 20, 2020, Pursuant to the PSP Agreement and in connection with the U.S. Treasury Department providing the Company with total funding of approximately $5.0 billion under the Payroll Support Program of the CARES Act, UAL issued a promissory note to the U.S. Treasury Department evidencing senior unsecured indebtedness of UAL in the initial principal amount of approximately $714.0 million. The principal amount of the PSP Note will increase in an amount equal to 30% of any disbursement made by the U.S. Treasury Department to United under the PSP Agreement after the initial issuance date. The aggregate principal amount of the PSP Note after all disbursements will be approximately $1.5 billion.

The PSP Note is guaranteed by United and will mature ten years after issuance on April 20, 2030. If any subsidiary of UAL (other than United) guarantees other unsecured indebtedness of UAL with a principal balance in excess of a specified amount, or if certain subsidiaries are formed or acquired, then such subsidiary shall be required to guarantee the obligations of UAL under the PSP Note. UAL may, at its option, prepay the PSP Note, at any time, and from time to time, at par. UAL is required to prepay the PSP Note upon the occurrence of certain change of control triggering events. The PSP Note does not require any amortization and is to be repaid in full on the maturity date.

Interest on the PSP Note is payable semi-annually in arrears on the last business day of March and September of each year beginning on September 30, 2020 at a rate of 1.00% in years 1 through 5, and at the Secured Overnight Financing Rate (SOFR) plus 2% in years 6 through 10.

As of March 31, 2020, UAL and United were in compliance with their respective debt covenants.

The table below presents the Company's contractual principal payments (not including debt discount or debt issuance costs) at March 31, 2020 under then-outstanding long-term debt agreements (in millions):



Last nine months of 2020	$	1,181
2021	3,948
2022	1,799
2023	849
2024	3,155
After 2024	6,524
	$	17,456

Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Details of Pass Through Trusts

Certain details of the pass-through trusts with proceeds received from issuance of debt in 2020 are as follows (in millions, except stated interest rate):



EETC Issuance Date	Class	Face Amount		Stated interest rate	Total proceeds received from issuance of debt during 2020		Total debt recorded as of March 31, 2020
September 2019	AA	$	702	2.70%	$	189	$	702
September 2019	A	287		2.90%	77		287
September 2019	B	232		3.50%	62		232
		$	1,221		$	328	$	1,221

Contractual Principal Payments under Long-Term Debt Agreements



Last nine months of 2020	$	1,181
2021	3,948
2022	1,799
2023	849
2024	3,155
After 2024	6,524
	$	17,456

Combined Notes to the Financial Statements (Unaudited)

3 Months Ended

Mar. 31, 2020

Unusual or Infrequent Items, or Both [Abstract]

COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

United Airlines Holdings, Inc. (together with its consolidated subsidiaries, "UAL" or the "Company") is a holding company and its principal, wholly-owned subsidiary is United Airlines, Inc. (together with its consolidated subsidiaries, "United"). This Quarterly Report on Form 10-Q is a combined report of UAL and United, including their respective consolidated financial statements. As UAL consolidates United for financial statement purposes, disclosures that relate to activities of United also apply to UAL, unless otherwise noted. United's operating revenues and operating expenses comprise nearly 100% of UAL's revenues and operating expenses. In addition, United comprises approximately the entire balance of UAL's assets, liabilities and operating cash flows. When appropriate, UAL and United are named specifically for their individual contractual obligations and related disclosures and any significant differences between the operations and results of UAL and United are separately disclosed and explained. We sometimes use the words "we," "our," "us," and the "Company" in this report for disclosures that relate to all of UAL and United.

The UAL and United unaudited condensed consolidated financial statements shown here have been prepared as required by the U.S. Securities and Exchange Commission (the "SEC"). Some information and footnote disclosures normally included in financial statements that comply with accounting principles generally accepted in the United States ("GAAP") have been condensed or omitted as permitted by the SEC. The financial statements include all adjustments, including normal recurring adjustments and other adjustments, which are considered necessary for a fair presentation of the Company's financial position and results of operations. The UAL and United financial statements should be read together with the information included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the "2019 Form 10-K"). The Company's quarterly financial data is subject to seasonal fluctuations. Historically its second and third quarter financial results have reflected higher travel demand, and were better than its first and fourth quarter financial results; however, see Part I, Item 2 of this report for additional discussion regarding trends associated with the matters discussed in the "Recent Developments" section below.

Recent Developments

In December 2019, a novel strain of coronavirus ("COVID-19") was reported in Wuhan, China, and the World Health Organization (the "WHO") subsequently declared COVID-19 a "Public Health Emergency of International Concern." As a result of COVID-19, the U.S. Department of State issued a Level 4 "do not travel" advisory for China and subsequently issued multiple Level 3 "reconsider travel" advisories for other jurisdictions, including Italy and South Korea.

On March 11, 2020, the WHO declared COVID-19 a "pandemic" and the U.S. Department of State issued a global Level 3 "reconsider travel" advisory for all travel abroad. On March 13, 2020, the U.S. government declared a national emergency. On March 19, 2020, the U.S. Department of State issued a global Level 4 "do not travel" advisory advising U.S. citizens to avoid all international travel due to the global impact of COVID-19. The U.S. government has also implemented enhanced screenings, mandatory 14-day quarantine requirements and other travel restrictions in connection with the COVID-19 pandemic, including restrictions on travel from Europe, Mexico and Canada, and many foreign and U.S. state governments have instituted similar measures (including travel restrictions to and within the European Union) and declared states of emergency.

As of April 15, 2020, approximately 316 million people in at least 42 states, the District of Columbia and Puerto Rico were under instructions to stay home or "shelter in place," and to avoid any non-essential travel. In the United States and other locations around the world, public events, such as conferences, sporting events and concerts, have been canceled, attractions, including theme parks and museums, have been closed, cruise lines have suspended operations and schools and businesses are operating with remote attendance, among other actions. Other governmental restrictions and regulations in the future in response to COVID-19 could include additional travel restrictions (including restrictions on domestic air travel within the United States), quarantines of additional populations (including our personnel), restrictions on our ability to access our facilities or aircraft or requirements to collect additional passenger data. In addition, governments, non-governmental organizations and entities in the private sector have issued and may continue to issue non-binding advisories or recommendations regarding air travel or other social distancing measures, including limitations on the number of persons that should be present at public gatherings.

The Company began experiencing a significant decline in international and domestic demand related to COVID-19 during the first quarter of 2020, and this reduction in demand has continued through the date of this report. The decline in demand caused a material deterioration in our revenues in the first quarter, resulting in a first quarter net loss of $1.7 billion. The full extent of the ongoing impact of COVID-19 on the Company's longer-term operational and financial performance will depend on future developments, many of which are outside of our control, and all of which are highly uncertain and cannot be predicted; however, the Company currently expects our results of operations for full-year 2020 to be materially impacted and that we will

incur a net loss for full-year 2020. For planning purposes, the Company has assumed that demand will remain suppressed for the remainder of 2020 and likely into 2021.

In response to decreased demand, the Company cut, relative to 2019 scheduled capacity, approximately 80% of its scheduled capacity for April 2020 and approximately 90% of its scheduled capacity for May 2020, with similar cuts expected for June 2020. The Company plans to proactively evaluate and cancel flights on a rolling 60-day basis until it sees signs of a recovery in demand.

The Company has taken a number of actions in response to decreased demand. In addition to the schedule reductions discussed above, the Company has:


•	reduced its planned capital expenditures and reduced operating expenditures for the remainder of 2020 (including by postponing projects deemed non-critical to the Company's operations);


•	suspended share repurchases under its share repurchase program on February 24, 2020 and subsequently terminated its share repurchase program on April 24, 2020;


•	entered into approximately $3.0 billion in secured term loan facilities and new aircraft financings;


•	raised approximately $1.1 billion in cash proceeds in an underwritten public offering of 43,175,000 shares of UAL common stock;


•	entered into an agreement to finance certain aircraft currently subject to purchase agreements through a sale and leaseback transaction;


•	temporarily grounded certain of its mainline fleet; and

•

taken a number of human capital management actions, including, among other items, the Company's Chief Executive Officer and President temporarily waived 100% of their respective base salaries, other officers temporarily waived 50% of their base salaries, the Company's non-employee directors waived 100% of their cash compensation for the second and third quarters of 2020, the Company suspended merit salary increases for management and administrative employees and the Company offered voluntary unpaid leaves of absence.

The Company continues to focus on reducing expenses and managing its liquidity. We expect to continue to modify our cost management structure, liquidity-raising efforts and capacity as the timing of demand recovery becomes more certain.

On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). The CARES Act is intended to respond to the COVID-19 pandemic and its impact on the economy, public health, state and local governments, individuals, and businesses. The CARES Act also provides supplemental appropriations for federal agencies to respond to the COVID-19 pandemic.

On April 20, 2020, United entered into a Payroll Support Program Agreement (the "PSP Agreement") with the U.S. Treasury Department providing the Company with total funding of approximately $5.0 billion pursuant to the Payroll Support Program under the CARES Act. These funds will be used to pay for the salaries and benefits of United employees. Approximately $3.5 billion of the $5.0 billion will be a direct grant and approximately $1.5 billion will be in the form of a 10-year senior unsecured promissory note (the "PSP Note").

Under the PSP Agreement, the Company and its business are subject to certain restrictions, including, but not limited to, restrictions on the payment of dividends and the ability to repurchase UAL's equity securities, requirements to maintain certain levels of scheduled service, requirements to maintain U.S. employment levels through September 30, 2020 and certain limitations on executive compensation.

In connection with entering into the PSP Agreement, on April 20, 2020, UAL issued the PSP Note to the U.S. Treasury Department evidencing senior unsecured indebtedness of UAL in the initial principal amount of approximately $714.0 million. The principal amount of the PSP Note will increase in an amount equal to 30% of any disbursement made by the U.S. Treasury Department to United under the PSP Agreement after the initial issuance date. The PSP Note is guaranteed by United and will mature ten years after issuance on April 20, 2030. If any subsidiary of UAL (other than United) guarantees other unsecured indebtedness of UAL with a principal balance in excess of a specified amount, or if certain subsidiaries are formed or acquired, then such subsidiary shall be required to guarantee the obligations of UAL under the PSP Note. UAL may, at its option, prepay the PSP Note, at any time, and from time to time, at par. UAL is required to prepay the PSP Note upon the occurrence of certain change of control triggering events. The PSP Note does not require any amortization and is to be repaid in full on the maturity date.

Interest on the PSP Note is payable semi-annually in arrears on the last business day of March and September of each year beginning on September 30, 2020 at a rate of 1.00% in years one through five, and at the Secured Overnight Financing Rate (SOFR) plus 2.00% in years six through ten.

On April 20, 2020, UAL also entered into a warrant agreement with the U.S. Treasury Department, pursuant to which UAL agreed to issue to the U.S. Treasury Department warrants to purchase up to approximately 4.6 million shares of common stock, pro rata in conjunction with increases to the principal amount outstanding under the PSP Note (the "PSP Warrants"), with an initial issuance of warrants to purchase up to approximately 2.3 million shares of common stock. The PSP Warrants will have a strike price of $31.50 per share (which was the closing price of UAL's common stock on The Nasdaq Stock Market on April 9, 2020). The PSP Warrants will expire five years after issuance, and are exercisable either through net share settlement, in cash or in shares of common stock, at UAL's option. The PSP Warrants contain customary anti-dilution provisions and registration rights and are freely transferable. Pursuant to the terms of the PSP Warrants, PSP Warrant holders do not have any voting rights.

On April 21, 2020, the Company received approximately $2.5 billion of the expected $5.0 billion through the Payroll Support Program under the CARES Act.

On April 17, 2020, the Company submitted an application to the Loan Program under the CARES Act. Under the Loan Program, the Company expects to have the ability, through September 30, 2020, to borrow up to approximately $4.5 billion from the U.S. Treasury Department for a term of up to five years. Any loans issued under the Loan Program are expected to be senior secured obligations of the Company, with collateral to be determined. If the Company borrows any amounts under the Loan Program, UAL expects to issue to the U.S. Treasury Department warrants to purchase shares of UAL common stock. For example, if the Company borrows the full amount currently available of $4.5 billion, the Company would issue warrants to purchase approximately 14.2 million shares of UAL common stock at a strike price of $31.50 per share (which was the closing price of UAL's common stock on The Nasdaq Stock Market on April 9, 2020), on the same terms as the PSP Warrants. If the Company borrows less than the full amount, the amount of warrants issued would be reduced by a proportional amount.

In connection with any borrowings under the Loan Program, the Company and its business will be subject to certain restrictions, including, but not limited to, certain of the restrictions described above with respect to the PSP Agreement.

Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue by Geography. The table below presents the Company's operating revenue by principal geographic region (as defined by the U.S. Department of Transportation) (in millions):



	Three Months Ended March 31,
	2020		2019
Domestic (U.S. and Canada)	$	5,078	$	5,875
Atlantic	1,215		1,458
Pacific	806		1,281
Latin America	880		975
Total	$	7,979	$	9,589

Advance Ticket Sales. All tickets sold at any given point of time have travel dates extending up to 12 months. The Company defers amounts related to future travel in its Advance ticket sales liability account. The Company's Advance ticket sales liability also includes credits issued to customers on electronic travel certificates ("ETCs"), primarily for ticket cancellations, which can be applied towards a purchase of a new ticket. In April 2020, due to the COVID-19 pandemic, the Company extended the expiration dates of ETCs from 12 months from the date of issuance to 24 months from the date of issuance. Given the uncertainty of travel demand caused by COVID-19, the Company is unable to estimate the amount of the December 31, 2019 Advance ticket sales that will be recognized in revenue in 2020 compared to amounts refunded to customers or exchanged into ETCs. The Company will review its breakage estimates as a result of these changes as future information is received.

In the three months ended March 31, 2020 and 2019, the Company recognized approximately $2.6 billion and $2.7 billion, respectively, of passenger revenue for tickets that were included in Advance ticket sales at the beginning of those periods.

Ancillary Fees. The Company charges fees, separately from ticket sales, for certain ancillary services that are directly related to passengers' travel, such as ticket change fees, baggage fees, inflight amenities fees, and other ticket-related fees. These ancillary fees are part of the travel performance obligation and, as such, are recognized as passenger revenue when the travel occurs. The Company recorded $476 million and $571 million of ancillary fees within passenger revenue in the three months ended March 31, 2020 and 2019, respectively.

Frequent Flyer Accounting. The table below presents a roll forward of Frequent flyer deferred revenue (in millions):



	Three Months Ended March 31,
	2020			2019
Total Frequent flyer deferred revenue - beginning balance	$	5,276		$	5,005
Total miles awarded	559			607
Travel miles redeemed (Passenger revenue)	(322		)	(438		)
Non-travel miles redeemed (Other operating revenue)	(25		)	(36		)
Total Frequent flyer deferred revenue - ending balance	$	5,488		$	5,138

In the three months ended March 31, 2020 and 2019, the Company recognized, in Other operating revenue $530 million and $473 million, respectively, related to the marketing, advertising, non-travel miles redeemed (net of related costs) and other travel-related benefits of the mileage revenue associated with our various partner agreements including, but not limited to, our JPMorgan Chase Bank, N.A. ("Chase") co-brand agreement. The Company entered into a Third Amended and Restated Co-Branded Card Marketing Services Agreement (as amended from time to time, the "Co-Brand Agreement") with Chase. The Co-Brand Agreement extended the term of the agreement into 2029 and modified certain other terms, resulting in a different allocation among the separately identifiable performance obligations and improved MileagePlus-related revenue for the first quarter of 2020 as compared to the year-ago period. The portion related to the MileagePlus miles awarded of the total amounts received from our various partner agreements is deferred and presented in the table above as an increase to the frequent flyer liability. We determine the current portion of our frequent flyer liability based on expected redemptions in the next 12 months. Given the uncertainty in travel demand caused by COVID-19, we currently estimate a greater percentage of award redemptions will occur beyond 12 months, however this estimate may change as travel demand and award redemptions become clearer in future periods.

Financial Instruments and Fair Value Measurements - Carrying Values and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 17,253	$ 14,552
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	15,768	15,203
Level 1 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	12,524	11,398
Level 3 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 3,244	$ 3,805

Special Charges (Tables)

3 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

Components of Special Charges



	Three Months Ended March 31,
	2020			2019
Impairment of assets	$	50		$	8
Severance and benefit costs	—			6
(Gains) losses on sale of assets and other special charges	13			4
Total operating special charges	63			18
Nonoperating credit loss on BRW Term Loan and related guarantee	697			—
Nonoperating unrealized (gains) losses on investments	319			(17		)
Total special charges, credit losses and unrealized (gains) losses on investments, net	1,079			1
Income tax benefit, net of valuation allowance	(14		)	—
Total special charges, credit losses and unrealized (gains) losses on investments, net of income taxes	$	1,065		$	1

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Firm Commitments and Options to Purchase Aircraft and Summary of Commitments

As of March 31, 2020, United had firm commitments and options to purchase aircraft from The Boeing Company ("Boeing"), Airbus S.A.S. ("Airbus") and Embraer S.A. ("Embraer") as presented in the table below:



		Scheduled Aircraft Deliveries
Aircraft Type	Number of Firm Commitments (a)	Last Nine Months of 2020	2021	After 2021
Airbus A321XLR	50	—	—	50
Airbus A350	45	—	—	45
Boeing 737 MAX	171	(b)	(b)	(b)
Boeing 787	19	11	8	—
Embraer E175	20	16	4	—
(a) United also has options and purchase rights for additional aircraft.
(b) Deliveries of Boeing 737 MAX aircraft have been delayed due to the FAA Order (defined below). If the FAA Order is lifted in 2020, the Company currently expects to take delivery of approximately 16 Boeing 737 MAX aircraft in 2020 and approximately 24 in 2021.

The table below summarizes United's commitments as of March 31, 2020, which include aircraft and related spare engines, aircraft improvements and all non-aircraft capital commitments (in billions):



Last nine months of 2020	$	2.7
2021 (a)	5.4
2022	2.2
2023	2.4
2024	1.0
After 2024	11.4
	$	25.1
(a) 2021 commitments reflect contractually scheduled deliveries for 2021 plus the Boeing 737 MAX deliveries that the Company currently expects will be deferred from 2020. To the extent the Company and Boeing agree to modify the timing of Boeing 737 MAX deliveries, the amount and timing of the Company's future capital commitments could change.

Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Cash Flows from Operating Activities:

Net cash provided (used) by operating activities

$ 63

$ 1,915

Cash Flows from Investing Activities:

Capital expenditures

(1,959)

(1,609)

Purchases of short-term and other investments

(541)

(724)

Proceeds from sale of short-term and other investments

927

768

Other, net

(15)

Net cash used in investing activities

(1,572)

(1,580)

Cash Flows from Financing Activities:

Proceeds from issuance of short-term debt

2,500

Proceeds from issuance of long-term debt

348

646

Payments of long-term debt

(235)

(250)

Repurchases of common stock

(353)

(513)

Principal payments under finance leases

(18)

(20)

Capitalized financing costs

(35)

(17)

Other, net

(18)

(29)

Net cash provided (used) in financing activities

2,189

(183)

Net increase in cash, cash equivalents and restricted cash

680

152

Cash, cash equivalents and restricted cash at beginning of the period

2,868

1,799

Cash, cash equivalents and restricted cash at end of the period

^[1]

3,548

1,951

Investing and Financing Activities Not Affecting Cash:

Property and equipment acquired through the issuance of debt

109

Lease modifications and lease conversions

439

Right-of-use assets acquired through operating leases

Property and equipment acquired through finance leases

United Airlines, Inc.

Cash Flows from Operating Activities:

Net cash provided (used) by operating activities

1,886

Cash Flows from Investing Activities:

Capital expenditures

(1,959)

(1,609)

Purchases of short-term and other investments

(541)

(724)

Proceeds from sale of short-term and other investments

927

768

Other, net

(15)

Net cash used in investing activities

(1,572)

(1,580)

Cash Flows from Financing Activities:

Proceeds from issuance of short-term debt

2,500

Proceeds from issuance of long-term debt

348

646

Payments of long-term debt

(235)

(250)

Dividend to UAL

(353)

(513)

Principal payments under finance leases

(18)

(20)

Capitalized financing costs

(35)

(17)

Net cash provided (used) in financing activities

2,207

(154)

Net increase in cash, cash equivalents and restricted cash

680

152

Cash, cash equivalents and restricted cash at beginning of the period

2,862

1,793

Cash, cash equivalents and restricted cash at end of the period

^[2]

3,542

1,945

Investing and Financing Activities Not Affecting Cash:

Property and equipment acquired through the issuance of debt

109

Lease modifications and lease conversions

439

Right-of-use assets acquired through operating leases

Property and equipment acquired through finance leases

$ 19

$ 8

[1]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:



Cash and cash equivalents	$	3,442	$	1,848
Restricted cash	106		103
Total cash, cash equivalents and restricted cash	$	3,548	$	1,951

[2]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:



Cash and cash equivalents	$	3,436	$	1,842
Restricted cash	106		103
Total cash, cash equivalents and restricted cash	$	3,542	$	1,945

Employee Benefit Plans - Narrative (Details) shares in Millions	3 Months Ended
	Mar. 31, 2020 shares
Compensation and Retirement Disclosure [Abstract]
Number of days used to compute performance period average closing price of restricted stock units	20 days
RSUs
Compensation and Retirement Disclosure [Abstract]
Awards granted (in shares)	0.7
Vesting period	3 years
Time-Vested RSUs
Compensation and Retirement Disclosure [Abstract]
Awards granted (in shares)	0.4
Performance-Based RSUs
Compensation and Retirement Disclosure [Abstract]
Awards granted (in shares)	0.3

Revenue - Operating Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Operating revenue	$ 7,979	$ 9,589
Domestic (U.S. and Canada)
Disaggregation of Revenue [Line Items]
Operating revenue	5,078	5,875
Atlantic
Disaggregation of Revenue [Line Items]
Operating revenue	1,215	1,458
Pacific
Disaggregation of Revenue [Line Items]
Operating revenue	806	1,281
Latin America
Disaggregation of Revenue [Line Items]
Operating revenue	$ 880	$ 975

BRW Term Loan (Details) - BRW - Term Loan Receivable shares in Millions, adr in Millions	Jan. 01, 2020 USD ($)	Nov. 30, 2018 USD ($) adr shares
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount		$ 456,000,000
Number of shares pledged as collateral (in shares) \| shares		516
Implied value equivalent of shares pledged as collateral (in ADRs) \| adr		64.5
Carrying amount of loan receivable	$ 515,000,000

Earnings (Loss) Per Share - Narrative (Details) - $ / shares	Apr. 21, 2020	Mar. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Par value of common stock (in dollars per share)		$ 0.01	$ 0.01
Subsequent Event
Class of Stock [Line Items]
Number of shares issued (in shares)	43,175,000
Public Offering \| Subsequent Event
Class of Stock [Line Items]
Number of shares issued (in shares)	39,250,000
Par value of common stock (in dollars per share)	$ 0.01
Sale price (in dollars per share)	$ 26.50
Over-Allotment Option \| Subsequent Event
Class of Stock [Line Items]
Number of shares issued (in shares)	3,925,000
Over-allotment option period	30 days

Debt - Details of Pass Through Trusts (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Total proceeds received from issuance of debt	$ 348,000,000	$ 646,000,000
United Airlines, Inc.
Debt Instrument [Line Items]
Total proceeds received from issuance of debt	348,000,000	$ 646,000,000
Pass-Through Certificates \| United Airlines, Inc.
Debt Instrument [Line Items]
Face Amount	1,221,000,000
Total proceeds received from issuance of debt	328,000,000
Total debt recorded	1,221,000,000
Pass-Through Certificates \| Class AA Pass-Through Certificates Issued September 2019 \| United Airlines, Inc.
Debt Instrument [Line Items]
Face Amount	$ 702,000,000
Stated interest rate	2.70%
Total proceeds received from issuance of debt	$ 189,000,000
Total debt recorded	702,000,000
Pass-Through Certificates \| Class A Pass-Through Certificates Issued September 2019 \| United Airlines, Inc.
Debt Instrument [Line Items]
Face Amount	$ 287,000,000
Stated interest rate	2.90%
Total proceeds received from issuance of debt	$ 77,000,000
Total debt recorded	287,000,000
Pass-Through Certificates \| Class B Pass-Through Certificates Issued September 2019 \| United Airlines, Inc.
Debt Instrument [Line Items]
Face Amount	$ 232,000,000
Stated interest rate	3.50%
Total proceeds received from issuance of debt	$ 62,000,000
Total debt recorded	$ 232,000,000

Recently Issued Accounting Standards	3 Months Ended
Recently Issued Accounting Standards	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS The Company adopted Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses ("ASU 2016-13") effective January 1, 2020. ASU 2016-13 replaces the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to calculate credit loss estimates. For trade receivables, loans and held-to-maturity debt securities, entities are required to estimate lifetime expected credit losses. For available-for-sale debt securities, entities are required to recognize an allowance for credit losses rather than a reduction to the carrying value of the asset. The Company made a $17 million cumulative-effect adjustment, net of related income taxes, to its retained earnings balance on January 1, 2020 as a result of this adoption. See Notes 7, 8, 9 and 11 to the financial statements included in Part I, Item 1 for additional disclosures about the impact of ASU 2016-13 on our first quarter results.

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Deferred Tax
Balance	$ (160)	$ (136)
Changes in value	15	(3)
Amounts reclassified to earnings	1	(1)
Balance	(144)	(140)
Net of Tax
Balance	11,531	10,042
Changes in value	(50)	7
Amounts reclassified to earnings	(3)	3
Balance	9,418	9,802
Pension and Other Postretirement Liabilities
Before Tax
Balance	(560)	(663)
Changes in value	(49)	5
Amounts reclassified to earnings	(4)	4
Balance	(613)	(654)
Investments and Other
Before Tax
Balance	2	(4)
Changes in value	(16)	5
Amounts reclassified to earnings	0	0
Balance	(14)	1
Accumulated Other Comprehensive Income (Loss)
Net of Tax
Balance	(718)	(803)
Balance	$ (771)	$ (793)

Combined Notes to the Financial Statements (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions						1 Months Ended		2 Months Ended	3 Months Ended
	May 01, 2020	Apr. 21, 2020	Apr. 20, 2020	Apr. 17, 2020	Mar. 10, 2020	May 31, 2020	Apr. 30, 2020	Apr. 30, 2020	Mar. 31, 2020	Mar. 31, 2019
Unusual or Infrequent Item, or Both [Line Items]
Net income (loss)									$ (1,704.0)	$ 292.0
Forecast
Unusual or Infrequent Item, or Both [Line Items]
Percent of capacity cut						90.00%
Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Percent of capacity cut							80.00%
Rolling cancellation period	60 days
Proceeds from issuance of secured term loans								$ 3,000.0
Proceeds from the issuance of common stock		$ 1,100.0
Number of shares issued (in shares)		43,175,000
Total funding provided under the Payroll Support Program			$ 5,000.0
Funding provided through loans under the Payroll Support Program			1,500.0
Funding provided through direct grants under the Payroll Support Program			$ 3,500.0
Number of securities called by warrants (in shares)			4,600,000
Warrant exercise price (in dollars per share)			$ 31.50
Warrant term			5 years
Support funding received		$ 2,500.0
Expected number of securities called by warrants (in shares)				14,200,000
Expected exercise price of warrants (in dollars per share)				$ 31.50
Unsecured Debt \| PSP Note \| Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Face amount			$ 714.0
Percent increase in the principal amount based on any disbursement made by the U.S. Treasury Department			30.00%
Term of debt			10 years
Unsecured Debt \| PSP Note \| Years 1 through 5 \| Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Stated interest rate			1.00%
Secured Debt \| Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Expected borrowings				$ 4,500.0
Expected term of debt				5 years
Initial Issuance \| Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Number of securities called by warrants (in shares)			2,300,000
SOFR \| Unsecured Debt \| PSP Note \| Years 6 through 10 \| Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Percent spread on variable rate			2.00%
CEO and President
Unusual or Infrequent Item, or Both [Line Items]
Voluntary pay reduction					100.00%
Officers
Unusual or Infrequent Item, or Both [Line Items]
Voluntary pay reduction					50.00%
Non-Employee Directors
Unusual or Infrequent Item, or Both [Line Items]
Voluntary pay reduction					100.00%

Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

The computations of UAL's basic and diluted earnings (loss) per share are set forth below (in millions, except per share amounts):



	Three Months Ended March 31,
	2020				2019
Earnings (loss) available to common stockholders	$	(1,704	)		$	292

Basic weighted-average shares outstanding	248.5				267.0
Effect of employee stock awards	—			(a)	1.3
Diluted weighted-average shares outstanding	248.5				268.3

Earnings (loss) per share, basic and diluted	$	(6.86	)		$	1.09

On April 21, 2020, UAL entered into an underwriting agreement (the "Underwriting Agreement") with Morgan Stanley & Co. LLC and Barclays Capital Inc. (collectively, the "Underwriters"), relating to the issuance and sale by UAL of 39,250,000 shares of its common stock, par value $0.01 per share, at a price to the public of $26.50 per share. Pursuant to the Underwriting Agreement, UAL granted the Underwriters a 30-day option to purchase up to an additional 3,925,000 shares of UAL common stock on the same terms, and such option was exercised in full.

Financial Instruments and Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 92
Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	3,442	$ 2,762
Restricted cash	106	106
Equity securities		385
AVH Derivative Assets	0	24
Other assets	16	0
Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	3,442	2,762
Restricted cash	106	106
Equity securities	92	385
AVH Derivative Assets	0	0
Other assets	0	0
Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Equity securities	0	0
AVH Derivative Assets	0	0
Other assets	0	0
Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Equity securities	0	0
AVH Derivative Assets	0	24
Other assets	16	0
Corporate debt \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	980	1,045
Corporate debt \| Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Corporate debt \| Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	980	1,045
Corporate debt \| Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Asset-backed securities \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	610	690
Asset-backed securities \| Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Asset-backed securities \| Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	610	690
Asset-backed securities \| Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
U.S. government and agency notes \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	95	124
U.S. government and agency notes \| Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
U.S. government and agency notes \| Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	95	124
U.S. government and agency notes \| Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Certificates of deposit placed through an account registry service (CDARS) \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	24	35
Certificates of deposit placed through an account registry service (CDARS) \| Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Certificates of deposit placed through an account registry service (CDARS) \| Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	24	35
Certificates of deposit placed through an account registry service (CDARS) \| Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Other fixed-income securities \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	70	95
Other fixed-income securities \| Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Other fixed-income securities \| Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	70	95
Other fixed-income securities \| Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Other investments measured at net asset value (NAV) \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	193
Other investments measured at net asset value (NAV) \| Level 1 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Other investments measured at net asset value (NAV) \| Level 2 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Other investments measured at net asset value (NAV) \| Level 3 \| Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 0	$ 0