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United Airlines Reports Fourth Quarter 2024 Net Profit of $985 Million or $2.95 per Diluted Share

Joe Breitfeller

United Airlines has reported a fourth quarter net profit of $985 million or $2.95 per diluted share on a year-over-year increase in revenue of 7.8 percent to $14.7 billion.  At December 31, 2024, United had liquidity totaling $17.4 billion.


United Airlines Boeing 787-8 Dreamliner - Courtesy Boeing
United Airlines Boeing 787-8 Dreamliner - Courtesy Boeing

On Tuesday (January 21, 2025), United Airlines announced their fourth quarter financial results for the period ending December 31, 2024.  The carrier reported a fourth quarter net profit of $985 million or $2.95 per diluted share on a year-over-year increase in revenue of 7.8 percent to $14.7 billion.  United’s fourth quarter total revenue per available seat mile (TRASM) increased 1.6 percent versus Q4 2023 to 20.59 cents, while cost per available seat mile (CASM) declined 1.6 percent to 16.85 cents.  Costs excluding fuel (CASM-ex) increased 5.0 percent to 12.89 cents.  At December 31, 2024, United had cash, cash equivalents, short-term investments and undrawn credit facilities totaling $17.4 billion.     


In Tuesday’s announcement, United Airlines’ CEO, Scott Kirby, said,


“United had a unique strategy coming out of COVID and our people have delivered for customers leading to a structurally and permanently changed industry.  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.”  


For the full year 2024, United reported a net profit of $3.15 billion or $9.45 per diluted share on a 6.2 percent year-over-year increase in revenue to $57.1 billion.  The airline’s FY 2024 total revenue per available seat mile (TRASM) declined 0.5 percent compared to Q4 2023 to 18.34 cents, while cost per available seat mile (CASM) declined 1.7 percent to 16.70 cents.  Costs excluding fuel (CASM-ex) for the full year increased 4.6 percent to 12.58 cents.


United Airlines' Fourth Quarter and Full-Year 2024 Financial Results - Courtesy United Airlines


During 2024, United Airlines set a company record for the most customers carried in a single year at nearly 174 million system wide, and an average of 4,340 daily flights.  The company also announced an industry-leading agreement with SpaceX to bring Starlink Wi-Fi to over 1,000 mainline and regional aircraft.  Additionally, United announced the largest international expansion in their history with nine new international destinations for summer 2025, eight of which are not served by any other U.S. airline, including Ulaanbaatar, Mongolia; Nuuk, Greenland; Kaohsiung, Taiwan; Palermo, Italy; Bilbao, Spain; Faro, Portugal; Madeira Island, Portugal; Puerto Escondido, Mexico; and Dakar, Senegal.

 

At United Airlines, ‘Good Leads the Way.’  The airline operates the most comprehensive network among North American carriers with U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C.  United and United Express operate over 4,000 flights per day to more than 350 airports across six continents.  In 2024, United carried nearly 174 million customers, a company record. Shares in United's parent company, United Airlines Holdings, Inc., are publicly traded on the NASDAQ under the symbol ‘UAL.’


 

Source: United Airlines/PRNewswire

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