Breaking Down SG&A Expenses: United Airlines Holdings, Inc. vs AECOM

A Tale of Two Giants: SG&A Expenses in the Aviation and Engineering Sectors

In the ever-evolving landscape of corporate finance, Selling, General, and Administrative (SG&A) expenses serve as a critical indicator of operational efficiency. This analysis juxtaposes United Airlines Holdings, Inc. and AECOM, two industry titans from aviation and engineering, respectively, over a decade from 2014 to 2023.

United Airlines, a leader in the aviation sector, consistently reported SG&A expenses that were approximately ten times higher than AECOM's, reflecting the capital-intensive nature of the airline industry. Notably, in 2020, United Airlines experienced a significant dip, with expenses dropping to just 34% of their 2019 levels, likely due to the pandemic's impact on air travel.

Conversely, AECOM's SG&A expenses showed a steady upward trend, peaking in 2020, and maintaining a consistent growth trajectory thereafter. This stability underscores AECOM's resilience and strategic management in the face of global economic challenges.