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.