United Continental announces $3bn share repurchase program

By Pouyan Broukhim

United Continental Holdings, the parent company of Chicago-headquartered United Airlines, has announced a new $3bn share buyback program – approximately 17% of the company’s current market capitalisation.

"We continue to invest in our employees, our customer experience and the growth of our business,” said Andrew Levy, Executive Vice President and Chief Financial Officer of United Airlines. “Returning cash to our shareholders reflects the strength of our balance sheet and the confidence we have in our future.”

See also:

The new repurchase program will follow directly on from the company’s most recent $2bn share purchase authorisation that is set to complete this month.

The airline currently operates approximately 4,500 flights a day from 337 different airports across five continents. This network saw 143mn customers served across 1.6mn flights last year, using United’s 751 mainline aircraft and the airline’s United Express fleet of 489 regional aircraft.

So far, this year, United’s share price has dropped up to 12%.

Share

Featured Articles

Top 10 wealthiest billionaires in the US

Business Chief provides a rundown of the top 10 richest billionaires in the US based on the most recent Forbes 400 list, which is published every year

Top 10 easiest countries in the world to do business

Business Chief takes a look at the top 10 places in the world to do business, according to TMF Group's Global Business Complexity Index (GBCI) for 2023

Patagonia Chair Charles Conn on becoming an imperfectionist

Entrepreneur and Patagonia Chair Charles Conn talks to Business Chief about rethinking strategy amid uncertainty, and why an imperfectionist approach works

Top 10 most valuable brands in the world – Amazon to TikTok

Corporate Finance

Four priorities for new Twitter CEO Linda Yaccarino

Leadership & Strategy

Top 10 shifts transforming organisations – McKinsey & Co

Leadership & Strategy