United Airlines reported its strongest Q1 performance in five years:

- Operating revenue reached $13.2 billion, up 5.4% year-over-year
- Net income was $387 million, with diluted EPS of $1.16
- Adjusted EPS came in at $0.91
- Pre-tax margin rose to 3.6%, adjusted margin at 3.0%
- Free cash flow was $2.3 billion in the quarter, with $5 billion over the past 12 months
- Year-to-date, United repurchased $451 million in shares
- Fuel costs dropped 8.6%, averaging $2.53 per gallon

The company plans to reduce domestic capacity by 4 points in Q3 2025 in response to demand trends and will retire 21 aircraft earlier than planned.

Operational highlights:
- Over 450,000 passengers per day on average
- Best Q1 on-time performance since 2021
- Digital check-ins reached a record 85%
- Premium and international bookings rose, with premium cabin revenue up 9.2%
- Investments continue in tech, fleet, and customer experience, including high-speed Starlink Wi-Fi rollout and O’Hare gate expansion

United reaffirmed confidence in 2025 earnings despite macro uncertainties.

United Airlines Reports Strong Q1 2025 Earnings with Record Revenue and Operational Gains

CHICAGO, — United Airlines (Nasdaq: UAL) posted its best first-quarter financial results in five years, generating $13.2 billion in revenue and delivering a $387 million net profit, amid a challenging macroeconomic backdrop. The airline also announced strategic reductions in domestic capacity, strong forward bookings, and continued investment in technology and customer experience.

Key Financial Highlights:
GAAP net income: $387 million (vs. $124 million loss in Q1 2024)

Diluted EPS: $1.16 (Adjusted: $0.91)

Operating margin: 4.6% (Adjusted: 3.8%)

Pre-tax income: $478 million (Adjusted: $391 million)

Operating cash flow: $3.7 billion

Free cash flow: $2.3 billion

Total liquidity: $18.3 billion

Net leverage: Reduced to 2.0x

Share repurchases: $451 million YTD

Operational Performance:
Capacity: Up 4.9% YoY

Passenger revenue: Up 4.8% YoY, led by 9.2% growth in premium cabins

TRASM: Up 0.5%

CASM-ex: Up 0.3%, but total CASM down 3.4% due to lower fuel costs

On-time performance and customer satisfaction: Highest since 2021

Digital engagement: 85% of passengers used digital check-in; app usage up 5% YoY

Strategic Actions:
United will cut 4 points of scheduled domestic capacity starting Q3 2025 to align with demand.

The company continues to retire older aircraft early and optimize fleet utilization.

United expects resilient earnings into Q2 and full-year 2025 despite macroeconomic uncertainty.

Customer Experience & Loyalty:
Highest-ever Net Promoter Scores for inflight entertainment and pilot communication

Introduced new snacks, hot meals in economy, and premium wine partnerships

Starlink WiFi installation certified; rollout expected by end of 2025

MileagePlus named to Newsweek’s Best Loyalty Programs, and United to USA Today’s Best Customer Service 2025

Environmental & Social Impact:
Invested in carbon capture startup Heirloom through United Airlines Ventures

Transported 8,000 lbs of aid cargo and raised nearly $400,000 in relief donations

Volunteer work by 850+ employees and career day programs launched at major hubs

Recognized by Forbes and Newsweek as a top employer for 2025

United Airlines Reports Q1 2025 Results, Posts Update on Investor Outlook


United Airlines Holdings, Inc. (Nasdaq: UAL) filed a Form 8-K announcing its first quarter 2025 financial results and business outlook. The company released its earnings via a press statement and an accompanying investor update on April 15, 2025.

Key highlights include:

First quarter 2025 financial results, detailed in the press release, indicate United’s continued efforts to manage operational efficiency and navigate macroeconomic and industry-specific challenges.

The company also issued an investor update, providing forward-looking guidance related to financial performance and operational metrics for the coming quarters.

Both the press release and the investor update were made available on United’s investor relations website at ir.united.com, where stakeholders can access more details about revenue trends, capacity projections, and unit cost guidance.

The 8-K also clarified that neither the press release nor the investor update will be deemed "filed" with the SEC for liability purposes, and their availability online may be discontinued at United’s discretion.

The report was signed by United Airlines CFO Michael Leskinen.

United Airlines (UAL) reported record fourth-quarter and full-year 2024 financial results, surpassing expectations. The airline achieved a fourth-quarter pre-tax margin of 8.9%, up 3.2 percentage points year-over-year, and an adjusted pre-tax margin of 9.7%. Full-year pre-tax earnings reached $4.2 billion, with a 7.3% pre-tax margin, while adjusted pre-tax earnings were $4.6 billion with an 8.1% adjusted margin.

United operated the most flights and carried the most customers in its history, finishing the year first in on-time departures at all seven of its U.S. hubs. The airline saw strong demand across its premium, corporate, and Basic Economy products, with revenue growth of 10%, 7%, and 20% year-over-year, respectively. Loyalty and cargo revenue also surged, up 12% and 30% in the quarter.

Key operational highlights include an industry-leading agreement with SpaceX for Starlink Wi-Fi on over 1,000 aircraft, the launch of MileagePlus® pooling, and record international expansion with nine new destinations in Summer 2025. The company also set a record for on-time performance and flight completions while achieving its third-best year for on-time arrivals.

For the first quarter of 2025, United projects strong demand and expects domestic revenue per available seat mile (RASM) to turn positive. The airline remains on track to achieve double-digit pre-tax margins, supported by investments in its fleet, technology, and customer experience.

United Airlines Holdings, Inc. announced that Captain Anne Worster resigned from the Board of Directors on January 13, 2025, following her departure as chairperson of the United Airlines Pilots Master Executive Council of the Air Line Pilots Association, International (ALPA-MEC). Her resignation was not due to any disagreement with the company's operations, policies, or practices.

On January 15, 2025, ALPA-MEC designated Brian Noyes to fill the Board vacancy created by Captain Worster’s resignation, effective immediately. Mr. Noyes, as a director elected by a class of stock other than the company's common stock, will not receive cash or equity compensation but will be entitled to certain benefits during his service.