United's strong quarterly profits match Delta after turbulent 2025

United Airlines reported strong quarterly financial results after the market closed on Tuesday, following Delta Air Lines’ similarly high numbers earlier this month.

United’s profits beat Wall Street’s estimates, with revenue up 9% in the planes’ front cabins — where first- and business-class passengers sit — and up 7% in the economy cabins.

The airline’s “revenue-per-available-seat-mile” was highest at the end of the year heading into 2026, with the first full week of January setting company records for ticket sales overall and in business class.

Airlines didn’t have an easy year in 2025. They faced flight cancellations during the government shutdown, a shortage of air traffic controllers, and inflation-weary customers.

Richard Aboulafia, managing director at AeroDynamic Advisory, compared that dynamic to that of the broader economy.

“Given all the headline news and the negative vibes, you’d think things would be worse than they actually are,” he said. “There’s still a decent level of growth and a very reasonable level of profitability too.”

Those profits are coming especially from high-spending passengers, both leisure and business. Morningstar equity analyst Nicolas Owens said United and Delta are way out in front in that area.

“(The airlines are in front) in terms of their ability to provide perks that their loyal customers, returning customers, want — which involves either spending money or miles to use their lounge, or first-class seats, or what have you,” he said.

United is spending more to make those passengers in the front of the plane happy — supercharged internet, reclining seats, and in-flight catering.

The airlines aren’t passing up an opportunity to squeeze more profit out of the economy seats, either, Owens said.

“Every little thing costs extra — one more backpack, picking your seat,” he said. “Some people might refer to that as nickel and diming, but it’s really just trying to maximize revenue off of a given plane full of seats.”

Meanwhile, a huge backlog of orders for new planes from Boeing and Airbus, which are struggling with supply chain problems, is a problem facing all airlines.

And flying older planes raises airlines’ costs for fuel and maintenance, said Scott Hamilton, managing director of Leeham Company.

“This is true with American, Southwest, Delta, and United — flying planes that are beginning to approach 30 years in age,” he said.

While the airlines’ business looks solid overall right now, Aboulafia said there are still concerns going forward.

“Global tensions, in several places, closed air space — never good for international travel,” he said.

But he said as long as middle- and upper-income consumers are still ready to spend on travel, major airlines will do OK.