联合航空 2024年度报告

ANNUAL REPORT Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. United Airlines Holdings, Inc.Yes☒No☐United Airlines, Inc. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. United Airlines Holdings, Inc.Yes☐No☒United Airlines, Inc. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐United Airlines, Inc. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this Chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files). Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "largeaccelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. United Airlines Holdings, Inc.Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐United Airlines, Inc.Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards providedpursuant to Section 13(a) of the Exchange Act. United Airlines Holdings, Inc. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of theSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. United Airlines Holdings, Inc.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issuedfinancial statements. United Airlines Holdings, Inc. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during therelevant recovery period pursuant to §240.10D-1(b). United Airlines Holdings, Inc. United Airlines, Inc. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). The aggregate market value of common stock held by non-affiliates of United Airlines Holdings, Inc. was $15.9 billion as of June 28, 2024 based on the closing sale price of $48.66 on that date. There is nomarket for United Airlines, Inc. common stock.Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of February 24, 2025. United Airlines Holdings, Inc.327,339,564shares of common stock ($0.01 par value)United Airlines, Inc.1,000shares of common stock ($0.01 par value) (100% owned by United Airlines Holdings, Inc.) This combined Form 10-K is separately filed by United Airlines Holdings, Inc. and United Airlines, Inc. OMISSION OF CERTAIN INFORMATION United Airlines, Inc. meets the conditions set forth in General Instruction I(1)(a) and (b) of Form 10-K and is therefore filing this form with the reduced disclosure format allowed under that General Instruction.DOCUMENTS INCORPORATED BY REFERENCE United Airlines Holdings, Inc. and Subsidiary CompaniesUnited Airlines, Inc. and Subsidiary CompaniesAnnual Report on Form 10-KFor the Year Ended December 31, 2024 PART I Item 1.BusinessInformation about Our Executive OfficersItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures PART II Item 5.Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities36Item 6.[Reserved]38Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations38Item 7A.Quantitative and Qualitative Disclosures About Market Risk49Item 8.Financial Statements and Supplementary Data50Combined Notes to Consolidated Financial Statements65Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure92Item 9A.Controls and Procedures92Item 9B.Other Information95Item 9C.Disclosure Regarding Foreign Jurisdictions th