United Airlines posts record quarterly profit

United Airlines Holdings raised its full-year profit forecast Wednesday after posting its highest-ever quarterly profit of $1.1 billion on the back of booming demand for international travel.

United’s sales increased 17% to $14.2 billion over the same period in 2022, exceeding the forecast of $13.9 billion.

→ United introduces new First Class seat for domestic flights

In the second quarter, international passenger revenue accounted for about 41% of the airline’s total revenue.

To capitalize on demand for international travel, United announced earlier this week a second expansion of its Pacific network this fall with new flights to Manila, Hong Kong, Taipei and Tokyo.

For the third quarter, the airline forecasts year-over-year revenue growth of 10% to 13%, with capacity growth of 16%. It forecasts adjusted earnings of $3.85 to $4.35 per share for the quarter.