United Airlines reported a successful financial year in 2024, ending with strong fourth-quarter results that surpassed expectations. The airline attributed its performance to the ‘United Next’ plan and investments that distinguished it from competitors. “Set the company record for most customers carried in a year at nearly 174 million system wide and an average of 4,340 daily flights, operating 145 more mainline flights per day compared to 2023,” United Airlines stated.
In Q4 2024, United’s premium revenue increased by 10% year-on-year (YoY), while corporate and basic economy income rose by 7% and 20%, respectively. Other revenue streams such as loyalty programs and cargo also saw significant growth, with increases of 12% and 30%. Operating revenues during the quarter reached $14.7 billion, marking a rise of 7.8%, while net income grew to $1 billion, resulting in diluted earnings per share (EPS) of $2.95.
For the full year, United Airlines reported a net income of $3.1 billion and an adjusted net income of $3.5 billion, with operating revenues totaling $57 billion—a YoY increase of 6.2%. The airline carried 173.6 million passengers in 2024, representing a YoY increase of 5.3%, despite a slight decline in load factor to 83.1%.
Costs rose by only 5% YoY due to lower fuel prices, with cost per available seat mile (CASM) at 16.7¢—a decrease from the previous year—while CASM excluding fuel was up by 4.6%. The average fuel price per gallon was $2.65, down from $3.01 in the previous year.
Looking forward to Q1 of 2025, United Airlines expects robust demand trends with anticipated growth in domestic revenue per ASM (RASM) and continued improvements internationally. CEO Scott Kirby highlighted the company’s unique strategy post-pandemic: “2024 was a strong year across the board for United as we’ve become the leading global airline and we enter 2025 with demand trends continuing to accelerate which puts us on the path to double-digit pre-tax margins.”
United provided guidance for its adjusted diluted EPS for Q1 at between $0.75 and $1.25, and between $11.50 and $13.50 for the full year of 2025.
