United Airlines Reports First Quarter 2026 Net Profit of $699 Million or $2.14 per Diluted Share
- Joe Breitfeller
- Apr 21
- 3 min read
United Airlines has reported a first quarter 2026 net profit of $699 million or $2.14 per diluted share on a year-over-year increase in revenue of 10.6 percent to $14.6 billion. At March 31, 2026, United had $17.2 billion in total liquidity.
On Tuesday (April 21, 2026), United Airlines reported their first quarter financial results for the period ending March 31, 2026. The carrier reported a net profit of $699 million or $2.14 per diluted share on a year-over-year increase in revenue of 10.6 percent to $14.6 billion, a first quarter record. United’s first quarter total revenue per available seat mile (TRASM) increased 6.9 percent versus the same period last year to 18.80 cents, while cost per available seat mile (CASM) increased 4.4 percent to 17.52 cents. Costs excluding fuel (CASM-ex) increased 5.9 percent compared to Q1 2025 to 13.95 cents. At the end of the period, United Airlines had $17.2 billion in total liquidity, including cash, cash equivalents, short-term investments and undrawn credit facilities.
In Tuesday’s announcement, United Airlines’ CEO, Scott Kirby, said,
“These are results our employees can be proud of, and they show the resilience of our long-term strategy, even in the face of escalating fuel expense. Our strong financial position and success in winning brand-loyal customers enabled United to quickly make tactical adjustments to higher fuel prices while maintaining our long-term focus. Moments of uncertainty for the airline industry may also create opportunity for United. We have demonstrated quarter after quarter that we are built to withstand disruptions, and this moment is no different. We’ll stay nimble in the short term while continuing to grow the airline and invest in our customers, product and people.”
United’s positive first quarter results were strong despite industry challenges, including a $340 million increase in fuel expense compared to Q1 2025. The carrier’s diverse revenue streams remained resilient, including premium revenue up 14 percent year-over-year, loyalty revenue up 13 percent, and revenue from Basic Economy up 7.0 percent. Business revenue also increased 14 percent for the first quarter.
As widely reported, oil prices remain volatile and elevated compared to the start of the year. United has already started making schedule adjustments for the rest of 2026 to account for higher fuel prices, with an expected 5.0 percent capacity reduction versus the original plan. As a result, United expects capacity in the third and fourth quarters of 2026 to be flat to up approximately 2.0 percent compared to the same periods last year.
United expects to take delivery of over 250 new aircraft by April 2028. The airline announced several industry-leading customer enhancements during the quarter, including the planned ‘Coastliner’ Airbus A321neo, the ‘Born to Explore’ Airbus A321XLR, the new CRJ450 with its spacious United First cabin, and the ‘United Relax Row’ across a row of United Economy Class seats. Starlink installations are accelerating and United expects to bring fast, free Wi-Fi for MileagePlus members to the whole fleet by the end of 2027.
At United Airlines (NASDAQ: UAL), ‘Good Leads the Way.’ As measured by available seat miles, United is the world’s largest airline, connecting passengers to more than 360 destinations, including 75 that no other U.S. airline serves. The carrier flies to over 225 U.S. cities, operating more than 4,000 domestic flights a day on average. With U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers.
Source: United Airlines / PRNewswire
