Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTFatima GulzarTue, August 11, 2026 at 2:56 PM GMT+2 4 min readUnited Airlines Holdings Inc. (NASDAQ:UAL) approached Delta Air Lines Inc. (NYSE:DAL) last year about merging the two most valuable U.S. carriers. United CEO Scott Kirby personally called Delta CEO Ed Bastian to pitch the idea. Delta's leadership discussed the proposal as part of preliminary due diligence, but the talks never progressed, and both airlines moved on. News of the approach broke on July 26, and both stocks rose the same day, United up 3.51% to $119.42 and Delta up 3.49% to $86.25.Why the Merger Talk Never Went AnywhereA merger between United Airlines Holdings Inc. (NASDAQ:UAL) and Delta would have combined two of the four giants that already dominate the U.S. airline industry. United and Delta Air Lines Inc. (NYSE:DAL) alone accounted for more than 90% of the industry's profits last year. Industry officials have long believed such a deal would be impossible on antitrust grounds. However, business leaders had grown hopeful that big, previously unthinkable deals might happen under the second Trump administration. This was not Kirby's only swing at a megadeal. He also floated a merger with American Airlines earlier this year, which American's CEO Robert Isom publicly rejected as anticompetitive.This makes you wonder: is United's appetite for a transformative merger a sign of real ambition, or proof it still needs one to catch up to Delta?United Airlines Holdings Inc. (UAL) Wanted to Merge With Delta Air Lines Inc. (DAL). Here Is Why It Never Happened.United's Bull and Bear CaseKirby has shown real appetite for transformative deals and remains open to buying airport slots, gates, or other assets from weaker rivals struggling with high fuel prices. Of past airline mergers built around cost-cutting, he has said, "My aspirations could not be more different," framing his ambitions as being about growth, not survival.However, every big merger attempt has stalled. Delta didn't advance the talks; American Airlines rejected the approach outright. An earlier report that Kirby raised a United-American tie-up directly with President Trump drew public backlash from lawmakers. Without a willing partner, which Kirby himself says any deal requires, United Airlines Holdings Inc. (NASDAQ:UAL) remains stuck at a market value of about $38 billion, well behind Delta's roughly $56 billion.Delta's Bull and Bear CaseDelta Air Lines Inc. (NYSE:DAL) built its position as the most profitable U.S. carrier on a premium travel experience strategy that even inspired United's own transformation. Its higher market value and dominant share of industry profits show that strategy is working without needing to chase a risky, antitrust-exposed megadeal.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info