Come da news, evidenzio i dati salienti della performance:
Today, we reported full-year and fourth-quarter 2024 financial results. We had full-year pre-tax earnings of $4.2 billion, with a pre-tax margin of 7.3%; adjusted pre-tax earnings of $4.6 billion, with an adjusted pre-tax margin1 of 8.1%. We also achieved full-year diluted earnings per share of $9.45; adjusted diluted earnings per share1 of $10.61, at the better end of the 2024 guidance provided at the start of the year of $9.00 to $11.00.
In 2024, we continued strong execution on our United Next plan. Our investments have set us apart and customers continue to show more preference for our brand with strong demand for all products: in the quarter premium revenue was up 10%, corporate revenue was up 7% and revenue from Basic Economy was up 20% year-over-year. Other revenue streams like loyalty and cargo had robust growth in the quarter with revenues up 12% and 30% year-over-year, respectively. Looking ahead to 2025 we see strong demand trends in the first quarter with domestic RASM expected to turn solidly positive year-over-year, as well as continued improvement in international RASM.
For the full year, we operated the most flights and carried the most customers in our history. We finished first in on-time performance at all seven of our U.S. hubs as a result of significant investments in our people, airports and technology, resulting in year-over-year improvement in customer satisfaction.
"United had a unique strategy coming out of COVID and our people have delivered for customers leading to a structurally and permanently changed industry," said Scott. "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."
Fourth-Quarter Financial Results
Today, we reported full-year and fourth-quarter 2024 financial results. We had full-year pre-tax earnings of $4.2 billion, with a pre-tax margin of 7.3%; adjusted pre-tax earnings of $4.6 billion, with an adjusted pre-tax margin1 of 8.1%. We also achieved full-year diluted earnings per share of $9.45; adjusted diluted earnings per share1 of $10.61, at the better end of the 2024 guidance provided at the start of the year of $9.00 to $11.00.
In 2024, we continued strong execution on our United Next plan. Our investments have set us apart and customers continue to show more preference for our brand with strong demand for all products: in the quarter premium revenue was up 10%, corporate revenue was up 7% and revenue from Basic Economy was up 20% year-over-year. Other revenue streams like loyalty and cargo had robust growth in the quarter with revenues up 12% and 30% year-over-year, respectively. Looking ahead to 2025 we see strong demand trends in the first quarter with domestic RASM expected to turn solidly positive year-over-year, as well as continued improvement in international RASM.
For the full year, we operated the most flights and carried the most customers in our history. We finished first in on-time performance at all seven of our U.S. hubs as a result of significant investments in our people, airports and technology, resulting in year-over-year improvement in customer satisfaction.
"United had a unique strategy coming out of COVID and our people have delivered for customers leading to a structurally and permanently changed industry," said Scott. "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."
Fourth-Quarter Financial Results
- Capacity up 6.2% compared to fourth-quarter 2023.
- Total operating revenue of $14.7 billion, up 7.8% compared to fourth-quarter 2023.
- TRASM up 1.6% compared to fourth-quarter 2023.
- CASM down 1.6%, and CASM-ex1 up 5.0%, compared to fourth-quarter 2023.
- Pre-tax earnings of $1.3 billion, with a pre-tax margin of 8.9%; adjusted pre-tax earnings1 of $1.4 billion, with an adjusted pre-tax margin1 of 9.7%.
- Net income of $1.0 billion; adjusted net income1 of $1.1 billion.
- Diluted earnings per share of $2.95; adjusted diluted earnings per share1 of $3.26.
- Average fuel price per gallon of $2.40.
- Repurchased approximately $81 million of shares; more than $1.4 billion remaining in authorization.
- Pre-tax earnings of $4.2 billion, with a pre-tax margin of 7.3%; adjusted pre-tax earnings1 of $4.6 billion, with an adjusted pre-tax margin1 of 8.1%.
- Net income of $3.1 billion; adjusted net income1 of $3.5 billion.
- Diluted earnings per share of $9.45; adjusted diluted earnings per share1 of $10.61.
- Ending available liquidity of $17.4 billion.
- Total debt, finance lease obligations and other financial liabilities of $28.7 billion at year end.
- Net leverage1 of 2.4x.
- Generated $9.4 billion of operating cash flow.
- Generated $3.4 billion of free cash flow1.
- 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.
- Announced an industry-leading agreement with SpaceX to bring Starlink's Wi-Fi service to more than 1,000 of the airline's mainline and regional aircraft, providing MileagePlus members free, fast, reliable internet connectivity on some passenger flights as soon as Spring 2025.
- Launched Kinective MediaSM by United Airlines – the first media network that uses insights from travel behaviors to connect customers to personalized advertising, experiences and offers from leading brands.
- Announced MileagePlus® pooling, making us the first major U.S. airline to allow customers to share and redeem miles in one linked account, providing additional value to loyalty members, their friends and loved ones.
- We announced the largest international expansion in our history, bringing service to nine new international destinations for Summer 2025, eight of which are not served by any other U.S. carrier: UBN (Ulaanbaatar, Mongolia), GOH( Nuuk, Greenland), KHH (Kaohsiung, Taiwan) PMO (Palermo, Italy), BIO (Bilbao, Spain), FAO (Faro, Portugal), FNC (Madeira Island, Portugal), PXM (Puerto Escondido, Mexico) and DSS (Dakar, Senegal).
- Surpassed 300 new and retrofit aircraft in 2024 featuring our signature interior with bigger bins, seatback screens at every seat and Bluetooth connectivity, resulting in a 4.5 point improvement in customer satisfaction with inflight entertainment.
- We continued to invest in our employees and facilities in 2024, with the opening of an expanded Flight Training Center at DEN and work beginning for a new state-of-the-art Inflight Training Center near IAD.
- We became the first airline to purchase sustainable aviation fuel (SAF) at ORD. In 2024, we voluntarily operated with SAF at AMS (Amsterdam), LAX, LHR (London-Heathrow), ORD and SFO.
