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Old 10-15-2025 | 12:35 PM
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FriendlyPilot
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Default UAL $1.3B Pre-tax Profit Q3

Highlights:

-Capacity up 7.2% YoY
-Total operating revenue of $15.2 billion, up 2.6% compared to third-quarter 2024.
-CASM down (2.8%), and CASM-ex down (0.9%), compared to third-quarter 2024; 1 point of expense moved from third-quarter 2025 to fourth-quarter 2025 primarily driven by maintenance and a reduction of 1 point of labor expense due to the timing of certain union contracts.
-Net income of $0.9 billion; adjusted net income of $0.9 billion.
-Ending available liquidity of $16.3 billion.
-Total debt is $3B less than same time last year
-Raised profit forecast for Q4
-Spent $1.7B on new aircraft purchases in Q3 ($4.4B YTD for aircraft purchases)

Pretty strong results overall.
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