United Airlines reported a strong increase in cargo revenue during the second quarter of 2026, with higher freight yields providing the primary contribution to growth despite relatively stable shipment volumes.
The airline recorded cargo revenue of US$527 million in Q2 2026, representing a 22.6% increase compared with US$430 million in the same period in 2025.
Speaking during United Airlines’ second-quarter earnings call, Chief Executive Officer Scott Kirby said cargo performance was driven mainly by improved pricing conditions rather than significant growth in freight volumes.
“Cargo had a really strong quarter. Most of the gains in cargo were yield related, not volume related, and I expect that to continue into Q3 as well,” Kirby said.
Yield Improvement Supports Cargo Performance
United’s cargo business benefited from stronger market pricing during the quarter, following a challenging first quarter when industry conditions were affected by geopolitical uncertainty in the Middle East and higher jet fuel costs.
Cargo revenue had declined 1.6% year on year in Q1 2026, before recovering strongly in the second quarter as yields improved.
Although Kirby did not provide specific details on freight rate increases, the airline indicated that overall revenue performance remained healthy despite continued cost pressures, including fuel-related expenses.
Market Disruption Fee Introduced
United Cargo introduced a Market Disruption Fee for freight shipments covered by air waybills (AWBs) issued from 1 May 2026, with charges applied according to the shipment’s chargeable weight.
The airline said the measure reflected rising operational costs across its global cargo network, including increased expenses from suppliers, partners and wider market conditions.
“The Market Disruption Fee reflects United Cargo’s increased cost of doing business globally. United Cargo faces the challenge of rising costs imposed on us by our suppliers, partners, and by the market,” the airline stated when announcing the measure.
Cargo Volumes Reach Highest Q2 Level Since 2020
While revenue growth was primarily yield-driven, United continued to move significant cargo volumes during the quarter.
The airline transported nearly 347 million pounds of cargo in Q2 2026, marking the highest second-quarter volume since 2020 and an increase of approximately 20 million pounds compared with the same period last year.
The quarter included more than 9 million pounds of medical shipments and approximately 232,000 pounds of military cargo, highlighting the diversity of United’s cargo operations.
Competitive Cargo Market Continues to Strengthen
United’s performance comes amid improving cargo results across major US carriers.
Delta Air Lines reported a 39% increase in cargo revenue during the second quarter of 2026, with growth attributed primarily to higher shipment volumes as the airline expands its presence in Asian and Middle Eastern markets.
The latest results indicate that while pricing remains a key driver of airline cargo performance, carriers are increasingly focusing on network expansion, strategic capacity deployment and specialised cargo segments to capture growth opportunities.
United’s Q2 performance reflects a broader recovery in air cargo markets, where limited capacity, stronger demand on key trade lanes and changing global supply chain patterns continue to influence freight yields.
