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.