United Airlines Holdings vs American Airlines Group Business Model (2026)
United Airlines Holdings earns most from Passenger (90.5%), while American Airlines Group earns most from Passenger (90.9%). Computed from United Airlines Holdings 10-K FY2025 and American Airlines Group 10-K FY2025.
Last checked 2026-10-18 on the official pages.
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 ↗ |
American Airlines Group
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Passenger | $49,643 million ($49.6 billion) | 90.9% | 10-K FY2025 ↗ |
| Cargo | $839 million | 1.5% | 10-K FY2025 ↗ |
| Loyalty program marketing services | $3,511 million ($3.5 billion) | 6.4% | 10-K FY2025 ↗ |
| Other revenue | $640 million | 1.2% | 10-K FY2025 ↗ |
| Total revenue | $54,633 million ($54.6 billion) | — | 10-K FY2025 ↗ |
Shared business models
Company and model pages
United Airlines Holdings · American Airlines Group
United Airlines Holdings: Loyalty and stored value
American Airlines Group: Loyalty and stored value
Frequently asked questions
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.
How does American Airlines Group make money?
American Airlines Group makes money mainly from Passenger. Its FY2025 total revenue was $54,633 million ($54.6 billion), with Passenger the biggest disclosed revenue line at $49,643 million ($49.6 billion) and 90.9% of total revenue (computed from the 10-K FY2025). American’s sales of loyalty miles to partners combine transportation and marketing revenue.