United Airlines Holdings, Inc. - UAL STOCK NEWS

United Airlines has announced its first investment of $5 million in algae biofuel company Viridos through its UAV Sustainable Flight Fund. This initiative aims to support the production of sustainable aviation fuel (SAF) made from microalgae, which offers a scalable solution without impacting the food supply chain. United has invested in more than three billion gallons of SAF, leading the aviation industry in this area. With Viridos' innovative technology, which enhances oil yield from microalgae, SAF production is projected to have a 70% lower carbon footprint compared to traditional jet fuel. United aims to achieve net-zero carbon emissions by 2050.

Energy Vault reported Q4 2022 revenue of $100.3 million, driven by a 275MWh storage project in California. Total revenue for 2022 was $145.9 million, with a net loss of $(23.3) million. The company's cash position increased to $286.2 million, with no debt. Contracted orders total 1,635 MWh, representing potential revenue of $540 million. Looking ahead, Energy Vault projects 2023 revenue between $325 million and $425 million, reflecting a growth of 2x-3x. Adjusted EBITDA is expected to be $(50) million to $(70) million. Key contracts secured include projects in Nevada and Australia, indicating strong market positioning.

United Airlines will present at the J.P. Morgan Industrials Conference on March 14, 2023, starting at 7:50 a.m. CT. The presentation can be accessed via a live webcast available in the investor relations section of United's website. An archived version of the audio webcast will be posted within 24 hours and will remain available for a limited time.

United Airlines operates a robust global route network from its major hubs in cities including Chicago, Denver, and Los Angeles, aiming to enhance customer travel options and experiences.

United Airlines has launched a consumer education campaign centered on Sustainable Aviation Fuel (SAF), appointing Oscar the Grouch as their first Chief Trash Officer. This initiative aims to raise awareness of SAF, which can significantly reduce greenhouse gas emissions compared to traditional jet fuels. United has invested in the future production of over three billion gallons of SAF, the highest among airlines worldwide. The campaign, featuring over 30 original content pieces, encourages customers to track their carbon footprint and contribute to the UAV Sustainable Flight Fund. The airline aims for net-zero emissions by 2050, without relying on traditional carbon offsets.

United Airlines has introduced the United Airlines Ventures Sustainable Flight Fund with an initial >$100 million investment from itself and inaugural partners including JPMorgan Chase, GE Aerospace, Honeywell, Air Canada, and Boeing. This innovative funding initiative aims to support start-ups focused on decarbonizing air travel through sustainable aviation fuel (SAF) research and production. Customers can now estimate their flight's carbon footprint and contribute to the fund during ticket purchases. United aims to decarbonize air travel, planning to produce over 3 billion gallons of SAF, the highest among airlines.

Air Canada and United Airlines announced an increase in summer capacity by over 20%, introducing new non-stop flights between Washington-Dulles and Calgary as well as Vancouver. Effective June 1 and June 2, these flights aim to enhance connectivity and schedule flexibility for customers. The carriers will operate more than 260 daily transborder flights, optimizing schedules with significant benefits for frequent travelers, including access to loyalty program perks. This development builds on their joint business agreement announced in July 2022.

United Airlines has launched the United Airlines Ventures Sustainable Flight Fund, a pioneering investment vehicle with over $100 million to support start-ups developing sustainable aviation fuel (SAF). Initial partners include JPMorgan Chase, GE Aerospace, and Honeywell. Customers can now view flight carbon footprints on United’s platform and contribute to the fund, with the first 10,000 contributors receiving MileagePlus miles. United aims to produce over three billion gallons of SAF, the most by any airline. The initiative aligns with United’s goal of achieving net-zero emissions by 2050.

United Airlines announced a new family seating policy allowing children under 12 to sit next to an adult for free, including Basic Economy ticket holders. This improvement, launching in early March, leverages a new dynamic seat map feature that identifies adjacent seating options when booking. If adjacent seats aren't available before travel, customers can switch to a different flight without additional fees. This initiative is aimed at enhancing the travel experience for families while showcasing United's commitment to technological advancements in air travel.