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Dec 31, 2024
United Airlines Q4 2024 Earnings Report
Achieved record profit in Q4, surpassing expectations, and reaffirmed the path to double-digit pre-tax margin.
Key Takeaways
United Airlines reported strong Q4 2024 financial results with a significant increase in pre-tax margin. The company saw growth in premium, corporate, and Basic Economy revenues, as well as loyalty and cargo. They also finished first in on-time performance at all seven of their U.S. hubs.
Q4 pre-tax margin increased by 3.2 points year-over-year, or 3.5 points on an adjusted basis.
United finished the year as the leader in on-time departures across all seven of its United hubs.
The company sees robust demand in the first quarter of 2025.
Premium revenue was up 10%, corporate revenue was up 7% and revenue from Basic Economy was up 20% year-over-year.
United Airlines
United Airlines
United Airlines Revenue by Segment
Revenue by Segment
Passenger Revenue
CapyFin.comCargo Revenue
CapyFin.comOther Operating Rev Revenue
CapyFin.com Forward Guidance
United sees strong demand trends in the first quarter with domestic RASM expected to turn solidly positive year-over-year, as well as continued improvement in international RASM.
Positive Outlook
- Strong demand trends in the first quarter.
- Domestic RASM expected to turn solidly positive year-over-year.
- Continued improvement in international RASM.
- Airline operated its largest domestic schedule in fourth quarter history, at 11% more flights than last year.
- Airline flew the largest international schedule of any U.S. carrier by available seat miles – 35% larger than the next largest U.S. carrier.
Challenges Ahead
- Execution risks associated with strategic operating plan.
- Changes in fleet and network strategy or other factors outside our control resulting in less economic aircraft orders.
- Reliance on a limited number of suppliers to source a majority of our aircraft, engines and certain parts.
- Unfavorable economic and political conditions in the United States and globally.
- High and/or volatile fuel prices or significant disruptions in the supply of aircraft fuel.
Revenue & Expenses
Visualization of income flow from segment revenue to net income