United Airlines (UAL) — United Airlines' $80B Plane Bet With No Passengers in Sight

<p>Deep value research on United Airlines (UAL) as of 2026-11-05: $80B list-price plane order. With revenue near zero in 2020, Scott Kirby placed the largest aircraft order in aviation history. We run that bet through a Graham-Buffett lens to test whether a century-old capital destroyer can finally compound.</p><p><br></p><p>Chapters</p><p>(0:00) Confidential Blueprint</p><p>(1:20) Asymmetric COVID Bet</p><p>(4:09) 30-Year Horizon</p><p>(5:14) Tech Stack Advantage</p><p>(10:21) Route Discipline</p><p>(11:20) Hub Engine Economics</p><p>(13:27) Credit Card Illusion</p><p>(15:50) Fleet and Financials</p><p>(16:51) Collapse of LCCs</p><p>(17:32) ATC Bottlenecks</p><p>(18:52) 30-Year Horizon</p><p>(20:39) DeepValues App</p><p>(21:22) 30-Year Horizon</p><p>(22:31) Get the free apps</p><p><br></p><p>Full open-source research report: <a href="https://research.deepvalues.ai/insights/2026-11-02-united-airlines-strategy-and-modernization-insights/?utm_source=spotify&amp;utm_medium=description&amp;utm_campaign=company&amp;utm_content=ual">https://research.deepvalues.ai/insights/2026-11-02-united-airlines-strategy-and-modernization-insights/?utm_source=spotify&amp;utm_medium=description&amp;utm_campaign=company&amp;utm_content=ual</a></p><p><br></p><p>DeepValues toolkit</p><p>• Run the numbers on any stock yourself, free: <a href="https://app.deepvalues.ai/?ref=podcast&amp;src=scott_kirby_s_value_strategy_for_united_airl-en">https://app.deepvalues.ai/?ref=podcast&amp;src=scott_kirby_s_value_strategy_for_united_airl-en</a></p><p>• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week&#x27;s research; no account needed): <a href="https://app.deepvalues.ai/letter?src=spotify&amp;ref=ual">https://app.deepvalues.ai/letter?src=spotify&amp;ref=ual</a></p><p>• DeepValues for iOS, intrinsic value and margin of safety for any stock: <a href="https://apps.apple.com/us/app/deepvalues/id6775568608">https://apps.apple.com/us/app/deepvalues/id6775568608</a></p><p>• Is the market overvalued? Track it with Buffett Indicator (iOS): <a href="https://apps.apple.com/us/app/buffett-indicator/id6747404614">https://apps.apple.com/us/app/buffett-indicator/id6747404614</a></p><p>• The same market gauge on Android, Bubble Watch: <a href="https://play.google.com/store/apps/details?id=com.luluventures.buffett&amp;referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany">https://play.google.com/store/apps/details?id=com.luluventures.buffett&