Delta Air Lines vs United Airlines Holdings Business Model (2026)
Delta Air Lines earns most from Passenger (81.7%), while United Airlines Holdings earns most from Passenger (90.5%). Computed from Delta Air Lines 10-K FY2025 and United Airlines Holdings 10-K FY2025.
Last checked 2026-10-18 on the official pages.
Delta Air Lines
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Passenger | $51,768 million ($51.8 billion) | 81.7% | 10-K FY2025 ↗ |
| Cargo | $900 million | 1.4% | 10-K FY2025 ↗ |
| Refinery (other revenue) | $5,077 million ($5.1 billion) | 8.0% | 10-K FY2025 ↗ |
| Loyalty program (other revenue) | $3,362 million ($3.4 billion) | 5.3% | 10-K FY2025 ↗ |
| Ancillary businesses (other revenue) | $937 million | 1.5% | 10-K FY2025 ↗ |
| Miscellaneous (other revenue) | $1,320 million ($1.3 billion) | 2.1% | 10-K FY2025 ↗ |
| Total revenue | $63,364 million ($63.4 billion) | — | 10-K FY2025 ↗ |
United Airlines Holdings
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Passenger | $53,438 million ($53.4 billion) | 90.5% | 10-K FY2025 ↗ |
| Cargo | $1,779 million ($1.8 billion) | 3.0% | 10-K FY2025 ↗ |
| Other revenue | $3,853 million ($3.9 billion) | 6.5% | 10-K FY2025 ↗ |
| Total revenue | $59,070 million ($59.1 billion) | — | 10-K FY2025 ↗ |
Shared business models
Company and model pages
Delta Air Lines · United Airlines Holdings
Delta Air Lines: Loyalty and stored value
United Airlines Holdings: Loyalty and stored value
Frequently asked questions
How does Delta Air Lines make money?
Delta Air Lines makes money mainly from Passenger. Its FY2025 total revenue was $63,364 million ($63.4 billion), with Passenger the biggest disclosed revenue line at $51,768 million ($51.8 billion) and 81.7% of total revenue (computed from the 10-K FY2025). Delta sells loyalty miles to partners whose customers earn rewards through everyday spending.
How does United Airlines Holdings make money?
United Airlines Holdings makes money mainly from Passenger. Its FY2025 total revenue was $59,070 million ($59.1 billion), with Passenger the biggest disclosed revenue line at $53,438 million ($53.4 billion) and 90.5% of total revenue (computed from the 10-K FY2025). United’s loyalty program connects airline customers with purchases from non-airline partners.