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