United Airlines lands record Q4 revenue despite shutdown headwinds

United Airlines Holdings (NYSE:UAL) shares took flight in after-hours trading Tuesday after the carrier posted the highest quarterly revenue in its history, overcoming a costly government shutdown to deliver a significant earnings beat.

The Chicago-based airline reported record operating revenue of $15.4 billion for the fourth quarter, a 5% increase year-over-year.

Adjusted earnings per share landed at $3.10, comfortably ahead of the $2.92 expected by Wall Street.

The record performance was fueled by a surge in "brand-loyal" travelers; premium cabin revenue jumped 9% in the quarter, while loyalty-driven revenue through MileagePlus rose 10%.

United flew a record 181 million passengers in 2025, solidifying its position as a dominant force in both domestic and long-haul international travel.

The results were particularly impressive given a $250 million pre-tax hit caused by the 43-day federal government shutdown in late 2025, which disrupted corporate bookings and domestic schedules.

United also navigated persistent operational hurdles at its Newark (EWR) hub, where FAA-mandated flight caps remained in place through the end of the year due to air traffic control staffing shortages.