United Continental Holdings CEO Oscar Munoz bought 19,800 shares of the airline's stock on Friday, according to a Form 4 filed with the Securities and Exchange Commission.
The filing states that the purchase occurred on Friday and that the common stock was acquired at $50.53 a share, valuing the transaction at just over $1 million.
In February, JPMorgan Chase CEO Jamie Dimon bought 500,000 shares of his company's stock. Since Dimon's purchase, shares of JPMorgan have risen about 20 percent.
Munoz returned to the airline as CEO last month after receiving a heart transplant in January. United shares have struggled as the company tries to regain its competitiveness in the industry.
While shares of United have gained 143 percent in the last five years, rivals Delta Air Lines and JetBlue Airways are up 406 percent and 279 percent, respectively.