United Airlines has reported a first quarter 2023 net loss of $194 million or ($0.59) per diluted share on a year-over-year increase in revenue of 51.1 percent to $11.43 billion.
On Wednesday (April 18, 2023), United Airlines reported their financial results for the first quarter ending March 31, 2023. The carrier reported a first quarter net loss of $194 million or ($0.59) per diluted share on a year-over-year increase in revenue of 51.1 percent to $11.43 billion. United’s third quarter total revenue per available seat mile (TRASM) increased 22.5 percent versus Q1 2022, while cost per available seat mile (CASM) increased year-over-year by 4.0 percent. Costs excluding fuel (CASM-ex) declined 0.1 percent compared to the same period last year.
In Wednesday’s announcement, United Airlines’ CEO, Scott Kirby, said,
“I am extremely proud of the United team's performance during the first quarter of 2023. Our industry-leading operational performance contributed to an all-time high operating cash flow in the first quarter and keeps us on track to achieve our cost targets for the full year. We are watching the macroeconomic risks carefully, but demand remains strong, especially internationally, where we are growing at twice the domestic rate. We expect all of these factors will keep us on track to achieve our full-year adjusted diluted EPS target.”
United Airlines’ shared purpose is “Connecting People. Uniting the World.” The airline operates the most comprehensive network among North American carriers with U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. Shares in the company’s parent, United Airlines Holdings, Inc., are publicly traded on the NASDAQ under the symbol ‘UAL.’
In trading Thursday morning (April 19, 2023), shares in United Airlines Holdings, Inc. (NASDAQ: UAL) were up 4.32% to $44.90/share (9:43 AM EDT).
Source: United Airlines