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United Airlines reported a Q1 profit of $387 million, exceeding expectations, but will cut domestic flights by 4% starting in Q3 due to softening domestic demand. International bookings remain strong, particularly for premium cabins. The airline maintains its full-year earnings forecast but acknowledges recessionary risks, projecting lower earnings in a downturn. Despite the cuts, United's stock rose over 5% in after-hours trading.

Prepared by Christopher Adams and reviewed by editorial team.