by Lacey Pfalz
Last updated: 10:35 AM ET, Wed April 22, 2026
United Airlines reported its first-quarter financial statement on April 21, lowering its full-year forecast due to the U.S.-Israel war on Iran’s impact on jet fuel prices, but citing strong demand nonetheless.
The airline reported a profit in the first quarter of 2026, with a pre-tax earnings of $0.9 billion. It also carried the most passengers during a first quarter in company history. Total operating revenue hit $14.6 billion, up nearly 11% from last year.
Shareholders took home a diluted earnings per share of $2.14, or an adjusted diluted earnings per share of $1.19.
Compared to last year, the airline saw fuel expenses increase $340 million due to the U.S.-Israel war on Iran.
"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," said United CEO Scott Kirby. "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."
United has begun adjusting its schedule to save money on fuel, reducing flights by 5% through the end of the year. Capacity, due to this shift, will remain flat or increase just 2% through the third and fourth quarters.
The airline announced it was planning to reduce flights back in mid-March, when fares increased 15-20% on the consumer side. The airline is planning on seeing highly elevated jet fuel prices through 2027.
Premium revenue is up 14%, loyalty revenue up 13% and basic economy revenue is also up 7% from the first quarter of 2025—led by strong demand and higher jet fuel prices.
"Moments of uncertainty for the airline industry may also create opportunity for United," Kirby said. "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."
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