United Airlines Q1 FY26: where the revenue came from and where it went
The whole income statement of United Airlines for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 22, 2026
Revenue$14.61B
+11% year over year
Operating profit$0.87B
6% margin
Net profit$0.70B
5% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 14.61 | 100% | +11% |
| Passenger | 13.17 | 90% | +11% |
| Product & service other | 1.02 | 7% | +11% |
| Cargo & freight | 0.42 | 3% | −2% |
| Operating expenses | −13.74 | 94% | |
| Compensation | −4.56 | 31% | +0pp |
| D&A | −0.76 | 5% | +0pp |
| Interest | −0.33 | 2% | +0pp |
| Underwriting | −2.54 | 18% | +0pp |
| Other | −5.55 | 38% | +0pp |
| Operating profit | 0.87 | 6% margin | +2pp |
| Tax | −0.17 | ||
| Net profit | 0.70 | 5% margin | +2pp |
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