United Airlines CFO Sees Q1 Results Tracking High End of Guidance

Cites strong demand, loyalty gains, and operational performance improvements

Published on Feb. 25, 2026

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United Airlines Chief Financial Officer Mike Leskinen told investors at the Barclays 43rd Annual Industrial Select Conference that the company's first-quarter results were tracking toward the high end of its earnings guidance range. Leskinen cited strong demand, continued progress on operational reliability, customer satisfaction, and brand loyalty initiatives as driving the outperformance.

Why it matters

United's positive outlook for the first quarter signals the airline industry's continued recovery from the pandemic, with strong consumer demand and improving operational metrics. The focus on brand loyalty and direct bookings also suggests United is making progress in its strategy to reduce earnings volatility and improve long-term profitability.

The details

Leskinen said United was seeing "tremendous demand strength" and a shift in consumer behavior toward brand loyalty and product segmentation. He noted the airline's year-to-date operational metrics were at record levels, with the number one A0, D0, and A14 performance United has ever had. Leskinen also pointed to revenue strength in Chicago O'Hare, with mid-single-digit RASM in the first two weeks of February. On booking trends, he said United's "strongest demand" and "strongest profitability" remains in premium cabins and international, while domestic main cabin performance has also improved.

  • United reported its first-quarter results are tracking toward the high end of guidance.
  • In the first two weeks of February, United saw mid-single-digit RASM in Chicago O'Hare.

The players

Mike Leskinen

Chief Financial Officer of United Airlines.

Brandon Oglenski

Analyst at Barclays who led the question-and-answer session with Leskinen.

United Airlines

A major U.S. full-service passenger carrier providing scheduled air transportation for passengers and cargo.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

United's positive outlook for the first quarter highlights the airline industry's continued recovery, with the company's focus on brand loyalty, operational performance, and strategic initiatives positioning it to potentially achieve double-digit pre-tax margins in the long term.