Third-Quarter 2018 Earnings Call

Best in class operations and improved customer service drove record 3Q passengers flown and revenue 69.6% UA YTD 181 D:00² 69.1% DL 64.9% AA ¹Year-to-date through September 30, 2018 2 Consolidated system flights Source: masFlight 49.3% WN 3Q18 Passengers Flown (millions) 38.7 2016 39.3 2017 9% 42.9 2018 3Q18 Total Revenue (billions) $9.9 2016 $9.9 2017 11% $11.0 2018 UNITED 7

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