Business travel demand is “really pretty amazing right now,” according to Andrew Nocella, chief commercial officer of United Airlines, speaking on a fourth quarter earnings call. He said revenue from the segment in early January was up “high single digits” year over year.

Nocella said if current patterns continue, there will be as much as 14% growth in business travel demand for the second half of January, adding that the further into February and March you go, the stronger the potential. The executive also cautioned that 2024 also started off strongly but that demand tailed off in February and March.

United CEO Scott Kirby had tough words for American Airlines’ aggressive moves at Chicago O’Hare, United’s hub, where American has won more gates at the airport. He said United turned a $500 million profit at O’Hare, and projected the carrier will be at least $500 million in the black again this year, even accounting for the projected negative impact of a capacity fight with American.

United reported fourth-quarter passenger revenue of $13.9 billion, up 4.9% year over year. Total fourth quarter revenue was $15.4 billion, up 4.8% for the period. That figure also was the highest quarterly revenue in United’s history, according to the carrier. 

Passenger revenue for 2025 was more than $53.4 billion, a 3.1% increase compared with 2024, while full-year revenue was $59 billion compared with $57.1 billion a year prior. 

Fourth-quarter net income was more than $1 billion, a 6% increase year over year, while full-year net income was nearly $3.4 billion, up 6.5% compared with 2024. 

The government shutdown had a $250 million effect on pre-tax earnings in the fourth quarter, according to United.

Capacity for the fourth quarter increased 6.5% year over year and was up 6.1% for full-year 2025 versus 2024.