United Airlines

United Airlines traces its lineage to Varney Air Lines, founded by Walter Varney in 1926 as one of the first airmail contractors in the United States. The modern United was assembled through a series of mergers in the 1930s that brought together Boeing Air Transport, Pacific Air Transport, Varney Air Lines, and National Air Transport — all under the ownership of a holding company that would eventually become United. The airline's early history was intertwined with the development of the American airmail system and the federal government's decision about which carriers would carry the mail, which was a matter of survival for early commercial aviation.

United employees attempted to acquire the airline through an Employee Stock Ownership Plan in 1994 — one of the largest employee buyouts in corporate history. The deal was structured so that employees took wage concessions in exchange for equity stakes, with a board that included union representatives. The experiment in employee ownership lasted until the aftermath of the September 11 attacks devastated airline revenues, leading United to file for Chapter 11 bankruptcy in December 2002 — the largest airline bankruptcy in history at the time. The airline emerged from bankruptcy in 2006.

United merged with Continental Airlines in 2010, creating what was then the world's largest airline. The merger brought United dominant hubs in Chicago O'Hare, Houston Intercontinental, Newark, Los Angeles, San Francisco, Denver, and Washington Dulles — a US network unmatched by any competitor for hub coverage and international connectivity. Continental's particularly strong transoceanic routes — to Latin America, Europe, and Asia — combined with United's existing Pacific network to create the most geographically comprehensive airline in the world.

CEO Scott Kirby, who took the role in 2020, repositioned United around a "United Next" strategy that invested heavily in premium cabin products, expanded the Boeing 787 and 777 wide-body fleet for long-haul routes, and targeted affluent transatlantic and transpacific travellers who had historically preferred Delta or the European carriers. The strategy generated significant revenue per available seat mile improvements. United's premium cabin revenue grew substantially, and the airline's international routes — particularly transatlantic — became its most profitable segment.

United reported $59.1 billion in revenue for 2024. The airline operated more transatlantic and transpacific flights than any other carrier in the world, connecting North America to more European and Asian destinations than competitors. Its fleet of Boeing 787 Dreamliners — the world's largest 787 fleet — gave it particular range efficiency on thin long-haul routes. The airline that had filed for bankruptcy twice had transformed itself into the world's most geographically connected carrier.