United rides loyalty to another earnings beat and optimistic 2026 outlook

United Airlines beat expectations for the 14th straight quarter as premium-fare revenue rose 9% and loyalty revenue climbed 10% in Q4, helping the company lift its 2026 guidance to the high end of forecasts. Management cited loyalty as a key driver of momentum, even as about $250 million in Q4 charges related to the government shutdown weighed on results. The strength in corporate travel and the loyalty strategy supported a positive earnings trajectory, and United’s shares rose in after-hours trading.