United Airlines announces $1.5B share repurchase program

The company’s Board of Directors authorized a new share repurchase program for up to $1.5B of outstanding shares of common stock and warrants originally issued to the U.S. Treasury under the CARES Act and Payroll Support Program, subject to a limit of $500M in aggregate through year-end 2024. This amount represents approximately 7% percent of the company’s market capitalization based on the closing stock price on Oct 14, 2024. This is the first share repurchase program since the suspension of the previous program in 2020 due to the COVID-19 pandemic. Unless suspended or terminated earlier by our Board of Directors, this program has no set expiration date and will therefore terminate when the company has completed all purchases authorized under the program.