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INVESTMENTS | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | INVESTMENTS
Equity investments ownership interest and carrying value
| Accounting Treatment |  | Ownership Interest |  | Carrying Value
(in millions) |  |  | September 30, 2025 | December 31, 2024 |  | September 30, 2025 | December 31, 2024
Air France-KLM | Fair Value |  | 3 | % | 3 | % |  | $ | 98 |  | $ | 62 |
China Eastern | Fair Value |  | 2 | % | 2 | % |  | 199 |  | 155 |
Grupo Aeroméxico | Equity Method |  | 20 | % | 20 | % |  | 402 |  | 354 |
Hanjin KAL | Fair Value(1) |  | 15 | % | 15 | % |  | 712 |  | 507 |
LATAM | Fair Value |  | 10 | % | 10 | % |  | 1,379 |  | 837 |
Unifi Aviation | Equity Method |  | 49 | % | 49 | % |  | 132 |  | 146 |
Wheels Up | Fair Value(2) |  | 37 | % | 38 | % |  | 485 |  | 435 |
Other investments | Various |  |  |  |  | 476 |  | 350 |
Equity investments |  |  |  |  |  | $ | 3,883 |  | $ | 2,846 |
(1)At September 30, 2025, we held 14.8% of the outstanding shares (including common and preferred), and 14.9% of the common shares, of Hanjin KAL. (2)Our voting rights with respect to Wheels Up are capped at 29.9%. Wheels Up. During the September 2025 quarter, we agreed to extend the contractual transfer restrictions on our investment in Wheels Up until May 2026 and thereafter will remain subject to certain, more limited transfer restrictions.

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