United Airlines has announced its second-quarter results with a three-fold increase in profit. The carrier’s impressive performance came after a busy summer travel season, particularly in the international network, as demand for overseas travel contributed to revenue generation significantly.
Impressive second quarter
United Airlines has posted massive revenue and profit for the quarter ending in June. The carrier made more than $14 billion in revenue, resulting in a profit of over $1 billion. The three-fold rise in profit has surpassed the estimates of analysts and is being attributed to a substantial rise in travel demand, particularly to international destinations.
Photo: Vincenzo Pace | Simple Flying
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It’s also interesting to note that these results have been achieved despite United facing flight disruptions at its hub at Newark Liberty International Airport last month. The carrier’s CEO, Scott Kirby, commented,
“The United team persevered through an unprecedented series of events at the end of last month. They are the best in the business and we’re focused on the important changes we can make, especially in Newark, to serve our customers even better.”
Key numbers
United’s total operating revenue from April to June was $14.2 billion, up 17.1% compared to second-quarter 2022. Its profit was $1.1 billion compared with $329 million in the corresponding period a year ago.
Photo: EQRoy | Shutterstock
The airline saw a 27% increase in international capacity during this period versus the same quarter last year, and this was one of the primary reasons it was able to do so well in Q2. United also flew the highest volume of revenue passengers since pre-pandemic and achieved the highest month for new enrolled members of the MileagePlus program, with approximately 800,000 new members in June.
The carrier also raised its per-share profit forecast to a range of $11 to $12, increasing it from the previous range of $10 to $12. This was more than the $9.78 that the analysts had expected.
Operational performance and network enhancement
United’s second-quarter performance benefited hugely from the strength of its network, among other factors. In the second quarter, its domestic margins returned to 2019 levels, while international margins were well above the pre-pandemic days.
It flew a daily average of more than 2,400 flights, the most mainline flights in a quarter in company history, and achieved the largest percentage of mainline-operated flights in history, with 60% of flights flown by mainline aircraft.
Photo: Vincenzo Pace | Simple Flying
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The April-June quarter was marked by significant expansion of its international network, with United launching six new international transatlantic routes between Malaga, Spain and Newark; Stockholm, Sweden and Newark; Berlin, Germany and Washington D.C.; Barcelona, Spain and Chicago; Shannon, Ireland and Chicago; and Rome and San Francisco.
It also became the only airline to offer direct service to Christchurch, New Zealand from the Continental United States via San Francisco. It also recently announced a second expansion of its Pacific flying this fall with new flights to Manila, Hong Kong, Taipei, and Tokyo (Narita).
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United Airlines Records Operating Revenue Of $14.2 Billion In Q2
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