United Airlines Holdings, Inc.

This segment carries almost all of the company's revenue and risk. Prices rise and fall with the economic cycle and with fuel cost. A strong hub network at slot-limited airports lets United charge more than a new airline could, because a new airline cannot get the same gates.该板块贡献了公司几乎全部的收入和风险。价格随经济周期和燃油成本波动。在时刻资源受限的机场拥有强大的枢纽网络，使美联航能够比新进入的航空公司收取更高的票价，因为新公司无法获得同样的登机口资源。

• Domestic network国内网络 — flights across the U.S. through United's five hub airports, for business and leisure travel.通过美联航的五大枢纽机场飞往美国各地，服务商务和休闲旅客。
• International network国际网络 — long-haul flights to Europe, Asia, and Latin America; the newest growth area, with 10 new cities set to start in March 2027.飞往欧洲、亚洲和拉丁美洲的长途航班；这是最新的增长领域，计划于2027年3月新增10个航点。
• Premium cabins高端舱位 — first class, business class, and extra-legroom seats; a fast-growing part of ticket revenue.头等舱、商务舱和加大腿部空间座位；是机票收入中增长最快的部分。
• Basic Economy基础经济舱 — a low-price, restricted-fare ticket type aimed at price-sensitive flyers who might otherwise pick a budget airline.一种低价、条件受限的票种，针对可能转而选择廉价航空公司的价格敏感型旅客。

Cargo is a small slice of revenue but grows fast when global trade picks up. It uses existing passenger flights, so it adds profit at low extra cost.货运收入占比虽小，但在全球贸易回暖时增长迅速。它利用现有的客运航班，因此能以较低的额外成本增加利润。

• Air freight航空货运 — shipping goods for businesses using space on scheduled passenger routes.利用定期客运航线的舱位空间为企业运送货物。

Most of this is co-brand credit-card money paid by banks for miles they give to cardholders. This income is steady even when ticket demand drops, so it lowers the swing in total company profit across a downturn.其中大部分是银行为持卡人积累的里程向美联航支付的联名信用卡资金。这部分收入即使在机票需求下降时也保持稳定，从而降低了公司整体利润在经济下行期的波动幅度。

• MileagePlus co-brand cardMileagePlus联名信用卡 — a credit card program where banks pay United for every mile earned by cardholders; a reliable, growing cash source.一项信用卡计划，银行会为持卡人赚取的每一英里向美联航付款；这是一个可靠且不断增长的现金来源。
• Ground handling地面服务 — services United sells to other airlines at its airports.美联航在其机场向其他航空公司提供的服务。