United Airlines (UA, Chicago O'Hare) has announced it plans to repurchase USD3 billion worth of its shares, representing some 17% of its market capitalisation.
The initiative is the second buyback programme in as many years. The previous plan, authorised by United Continental Holdings in July 2016, was worth USD2 billion and is expected to conclude by year-end.
United is the second major American carrier to announce a stock buyback programme of late, the other one being JetBlue Airways which intends to repurchase USD750 million worth of its own shares.
