United Airlines earned US$737 million in 2022

Redacción - Aviación al Día

2 years ago

United Airlines announced Tuesday that it earned $737 million in 2022, reversing the previous year’s losses and even surpassing in the fourth and final quarter the profits it made in that same period of 2019, before the pandemic.

In a statement, the U.S. airline said it earned 843 million in the fourth quarter, 31.5% more than in that stretch of 2019, and said it was able to “quickly recover” from the problems caused by winter storm Elliott at Christmas time.

In 2021, United made a loss of 1.964 billion, so the 2022 comparison with 2019 indicates a 75.5 % lower profit, but also a remarkable recovery in business following the covid-19 shutdown of international flights.

→ United Airlines inaugurates its largest Inflight Training Center

For 2022 as a whole, the company’s operating revenue, which comes overwhelmingly from airline tickets and passenger payments, was 44,955 million, up 82 % compared to the poor 2021 financial year and up almost 4 % compared to 2019, before the pandemic.

In an update to its forecast, the airline was optimistic and revealed that in this first quarter of 2023 it expects its operating revenue to be 50% higher compared to 2022, thanks to increased demand and higher ticket costs.

United noted that it has recently completed a purchase of 100 Boeing 787 Dreamliner wide-body aircraft and added another 100 737 Max aircraft, which will significantly increase its fleet, and this year will include three new routes (to Malaga, Stockholm and Dubai).

The results, released after the close of Wall Street, were well received by investors and shares were up 1.6% in electronic trading. In the last year its capitalization has risen by 9.5 %.