United Airlines Holdings, Inc. - UAL STOCK NEWS

United Airlines (UAL) reported a fourth-quarter net loss of $1.9 billion and a full-year loss of $7.1 billion for 2020. Despite these challenges, the airline raised over $26 billion in liquidity, achieving $19.7 billion in available funds by year-end. UAL plans to reduce costs by $2.0 billion and anticipates a recovery, aiming to exceed its 2019 EBITDA margin by 2023. The first quarter of 2021 is projected to show a 65% to 70% revenue decline compared to the first quarter of 2019.

United Airlines has appointed Doreen Burse as the new senior vice president of Worldwide Sales, effective March 1, 2021. Burse, with over 30 years of experience in sales, primarily from the hospitality sector, will report to Andrew Nocella, the airline's Chief Commercial Officer. She is tasked with enhancing existing sales programs and driving revenue growth. Previously, Burse was the vice president at Marriott, overseeing a team that managed $16 billion in annual spending across numerous corporate and association clients.

United Airlines has achieved the Diamond certification from APEX and SimpliFlying, recognizing its superior health and safety measures during travel. This certification, the highest awarded among major U.S. carriers, indicates United's practices exceed the minimum safety standards by at least 200 points. The airline's initiatives include the United CleanPlus program, partnerships with the Cleveland Clinic and Clorox, and several innovative safety measures. United's commitment to customer safety continues to set a high standard for the aviation industry in the wake of COVID-19.

United Airlines will hold a conference call on January 21, 2021, at 9:30 a.m. CT to discuss its fourth-quarter and full-year 2020 financial results. The company plans to issue these results following market close on January 20, 2021. A live webcast will be available, with a replay accessible within 24 hours and archived for three months. Investors can participate through their investor relations website at ir.united.com.

On December 21, 2020, United Airlines' CEO Scott Kirby and President Brett Hart announced the bipartisan relief bill's extension of the Payroll Support Program (PSP) for airlines. This extension allows thousands of employees impacted by September 30 furloughs to return temporarily through March 2021, marking a positive development for many workers. However, they caution that customer demand is unlikely to change significantly in the near term. Kirby emphasized the importance of vaccine developments but acknowledged that widespread vaccination would take months.

United Airlines announced a program in collaboration with the CDC to collect passenger contact information for all flights, aimed at enhancing COVID-19 contact tracing. Starting this week, customers can voluntarily provide their details during check-in via the mobile app or at the airport. This initiative is the most comprehensive of its kind in the airline industry and is expected to support public health efforts significantly. United's Chief Customer Officer emphasized the importance of such initiatives until a vaccine becomes widely available.

United Airlines introduces Agent on Demand, a virtual customer service option available at its hubs, enhancing contactless travel. Customers can access support via mobile devices through calls, texts, or video chats with agents. Initially available at Chicago O'Hare and Houston George Bush International Airports, it will expand to other hubs by year-end. This initiative aims to streamline assistance for seat assignments, flight status, and more, while maintaining safety protocols during the pandemic. Translation features support communication in over 100 languages, enhancing accessibility.

United Airlines announced a tax benefits preservation plan to protect its net operating loss carryforwards (NOLs) of approximately $8.2 billion as of September 30, 2020. This measure is crucial to avoid limitation on these tax assets due to potential ownership changes. The plan will issue one preferred share purchase right for each common stock share and will be voted on at the 2021 annual meeting. The rights activate if any individual or group acquires 4.9% or more of UAL shares without board approval, enabling existing shareholders to buy additional shares at a 50% discount.

United Airlines launched a campaign inviting MileagePlus members to donate miles to nearly 40 non-profits through its Miles on a Mission platform. The initiative aims to raise over 11 million miles for organizations like the Thurgood Marshall College Fund and Compass to Care, which provide essential travel for health care and education needs. United will match the first 125,000 miles for each participating non-profit. Since October 2019, the program has raised over 92 million miles, supporting numerous charitable causes during the pandemic.