UAL proposes public offering of 39m shares of common stock

United Airlines Holdings, Inc. (NASDAQ:UAL) has announced an underwritten public offering of 39,250,0000 shares of its common stock, underwritten by Morgan Stanley and Barclays, the company said.

The company has granted to the underwriters a 30-day option to purchase up to 3,925,000 additional shares. The proceeds from the offering will be used for general corporate purposes.

In 2019, United and United Express operated more than 1.7 million flights carrying more than 162 million customers.