Zacks Equity Research downgraded United Airlines Holdings (UAL) to a Sell rating on April 13, 2026. Analysts slashed the 2026 consensus earnings estimate by 40.3% over the past 60 days. This revision reflects a significant decline in market confidence regarding the carrier's profitability.
Mounting operational pressures are driving the negative outlook. Total operating expenses rose 6.2% year-over-year in the fourth quarter of 2025. The airline is currently grappling with surging costs for fuel, labor, and maintenance.
Weakening liquidity further pressured the rating as the company's current ratio fell. United Airlines shares declined by more than 2.5% in pre-market trading on April 13 following the announcement.