Is UAL (United Airlines Holdings, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, UAL is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 2 of 4 compliance screens. Its debt-to-market-cap ratio of 104.30% exceeds the ≤33% threshold. Its cash & securities ratio of 41.13% exceeds the ≤33% threshold.

United Airlines Holdings, Inc. operates a massive global network, providing passenger and cargo air transportation across North America, Asia, Europe, and beyond. Alongside its mainline and regional fleets, the Chicago-based carrier generates revenue through third-party catering, ground handling, and maintenance services. For Muslim investors using HalalStocks.co.uk, United Airlines is currently classified as Not Halal (Haram). Although the airline industry itself is a permissible business, UAL fails critical AAOIFI financial screens, meaning it cannot be included in a shariah-compliant portfolio at this time. The primary concern from an Islamic finance perspective is the company's heavy reliance on debt, with its debt-to-market cap ratio reaching an alarming 104.3%. Additionally, its cash and interest-bearing securities make up 41.1% of its market cap, violating the 33% limit, despite interest income remaining low at 1.03% of total revenue. Muslim investors should monitor UAL's balance sheet for significant debt reduction and capital restructuring. Until the airline manages to bring its debt and cash ratios below the 33% AAOIFI thresholds, the stock will remain non-compliant. United Airlines Holdings, Inc. operates in the Industrials sector under the Airlines, Airports & Air Services industry and is headquartered in Chicago, IL, US. The company is led by CEO J. Scott Kirby and employs approximately 109,200 people.

UAL was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. UAL passed 2 of these 4 screens.

UAL was last screened on 2026-04-27. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.