What Is the Stock Symbol for United Airlines?
As the oldest operating air carrier in the world, United Airlines boasts a fleet of over 400 modern jets--a far cry from the single Sparrow biplane that inaugurated the first scheduled commercial service in 1926. Knowing a company's history is useful, but an investor needs information about the firm's current status and future prospects as well. This article gives you an overview of the company and tells you what is the stock symbol of United Airlines. There is a link to United's Investor Relations website under Resources at the end of the article.
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Identification
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United Airlines is a wholly owned subsidiary of UAL Inc. The stock is traded on NASDAQ with the stock Symbol UAUA. Use the stock symbol to locate daily price quotes or get them from United's Investor Relations Website, which provides daily updates in addition to current information about the company.
History
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United began as Varney Airlines based in Boise, Idaho, in 1926. It was among the first commercial air carriers to carry mail on a regular route. The following year the Boeing Company entered the airmail business with a subsidiary, Boeing Air Transport. In 1934 the provisions of the Air Mail Act prohibited aircraft manufacturers from operating commercial aircraft, and Boeing sold off its airmail operation, which then merged with Varney to form United Airlines. By World War II United grew into a major carrier and then an industry leader following a merger with Capitol Airlines in 1961. United was denied permission to open up overseas routes and remained a domestic carrier until the airline deregulation of 1978, at which time the company entered the international market. In the wake of the 9/11 attack and later increases in the cost of fuel, United was forced into Chapter 11 bankruptcy. However, in October 2006 the company emerged from bankruptcy with a restructured financial profile and streamlined operations.
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Types
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United operates as a common air carrier worldwide and carrying both passengers and air freight. Despite a relatively late entry into the international market, this constitutes 40 percent of its total volume. The company was one of the founders of the Star Alliance, a global network of partnered airlines that provides connections to virtually any commercial destination worldwide.
Size
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By the beginning of the 21st century, United had annual revenues of $16 billion and topped $5 billion per quarter by 2008. The fleet of 433 aircraft carried over 65 million passengers in 2005 to 240 destinations with over 3,000 flights per day. The company employs about 55,000 people worldwide.
Features
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Evaluating the investment potential of any airline can be difficult. The industry is strongly affected by external economic forces and by variations in fuel costs. As it emerged from Chapter 11 protection in 2006, United was in good shape overall with one of the most modern fleets of aircraft of any major carrier. Potential investors should balance the long-term earnings potential against the likelihood of having to ride out occasional downturns in the company's fortunes, as with any airline. United has a comprehensive Investor Relations website with downloads of important documents including the company's Annual Reports.
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Resources
- Photo Credit United Airlines Boeing 777. Photo by Solitude
