United 2024 cargo revenue up 17%, Q4 revenue up 30%

Listen to this Article

United Airlines reported a 17 percent increase in cargo revenue at $1.74 billion for the year ended December 2024 compared to $1.49 billion in 2023.

Cargo revenue tonne miles (cargo revenue tonnes transported multiplied by the number of miles flown) increased 14 percent to 3.6 billion, says an official release.

For the fourth quarter, United reported a 30 percent increase in cargo revenue at $521 million on 10 percent increase in cargo revenue tonne miles.

United opened a state-of-the-art cargo facility at the New York/Newark airport expanding the airline's cargo space at the hub to 319,000 square feet. "United transported nearly 1.3 billion pounds of cargo in 2024, including approximately 43 million pounds of medical shipments and 1.1 million pounds of military shipments."

Operating revenue for 2024 increased six percent to $57.1 billion and net income was up 20 percent at $3.1 billion.

"The company operated the most flights and carried the most customers in its history. United finished first in on-time performance at all seven of its U.S. hubs as a result of significant investments in its people, airports and technology, resulting in year-over-year improvement in customer satisfaction."

Scott Kirby, CEO, United Airlines says: "United had a unique strategy coming out of Covid, and our people have delivered for customers leading to a structurally and permanently changed industry. 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."

United expects to serve more international destinations across the Atlantic and Pacific than all other U.S. carriers combined in 2025, with 800 daily flights to and from 147 international destinations, including nearly 40 not served by any other U.S. airline, the release added.