United Airlines Reports Second Quarter Net Income of $329 Million or $1.00 per Diluted Share

United Airlines has reported a second quarter 2022 net income of $329 million or $1.00 per diluted share on a year-over-three revenue increase of 6.2 percent to $12.1 billion. At June 30, 2022, the company had available liquidity of $22 billion.

United Airlines Boeing 787-8 Dreamliner - Courtesy Boeing

On Wednesday (July 20, 2022) United Airlines reported their second quarter financial results for the period ending June 30, 2022. The carrier reported a net profit of $329 million or $1.00 per diluted share on a 6.2 percent increase in revenue versus Q2 2019 to $12.1 billion. United’s Total Revenue per Available Seat Mile (TRASM) for the second quarter was up year-over-three by 24 percent, while Cost per Available Seat Mile (CASM) increased 32 percent to 17.94 cents, compared to 13.56 cents for Q2 2019. The airline’s costs, excluding fuel (CASM-ex) increased 17 percent to 11.62 cents versus 9.93 cents during the second quarter of 2019. At June 30, 2022, United Airlines had total available liquidity of $22 billion.

In Wednesday’s announcement, United Airlines’ Chief Executive Officer, Scott Kirby, said,

“I am grateful to the United team that has fought through severe systemic challenges impacting all of global aviation to serve our customers. It's nice to return to profitability – but we must confront three risks that could grow over the next 6-18 months. Industry-wide operational challenges that limit the system's capacity, record fuel prices and the increasing possibility of a global recession are each real challenges that we are already addressing. These fundamental challenges have already led to higher costs, higher fuel prices, but also higher revenue, which means we're as confident as ever we will deliver on our 9 percent adjusted pre-tax margin target in 2023”

United Airlines’ shared purpose is “Connecting People. Uniting the World.” In 2019, United and United Express® carriers operated over 1.7 million flights carrying over 162 million guests. United Airlines operates the most comprehensive network among North American carriers with mainland 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 (July 21, 2022), shares in United Airlines Holdings, Inc. (NASDAQ: UAL) were 9.18% lower at $37.86/share (10:25 AM EDT).

Source: United Airlines / PRNewswire