United Airlines Reports Third Quarter 2023 Net Profit of $1.1 Billion or $3.42 per Diluted Share
United Airlines has reported a third quarter net profit of $1.1 billion or $3.42 per diluted share on a year-over-year increase in revenue of 12.5 percent to $14.5 billion.
On Tuesday (October 17, 2023), United Airlines reported their third quarter financial results for the period ending September 30, 2023. The carrier reported a third quarter net profit of $1.1 billion or $3.42 per diluted share on a year-over-year increase in revenue of 12.5 percent to $14.5 billion. United’s third quarter total revenue per available seat mile (TRASM) declined 2.8 percent versus Q3 2022 to 18.49 cents, while cost per available seat mile (CASM) declined 3.6 percent to 16.27 cents. Costs excluding fuel (CASM-ex) increased year-over-year by 2.6 percent to 11.51 cents.
In Tuesday’s announcement, United Airlines’ CEO, Scott Kirby, said,
“Thank you to our extraordinary United team who delivered a record-setting operational performance for our customers in August and September. Our strategy to diversify our revenue streams, capitalize on growth opportunities and constantly innovate to enhance our products for our customers is paying off. Our United Next strategy is working, and we remain on track to hit our financial targets.”
At United Airlines, ‘Good Leads the Way.’ 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. As measured by available seat miles (ASMs), United is now the world’s largest airline. Shares in the company’s parent, United Airlines Holdings, Inc., are publicly traded on the NASDAQ under the symbol ‘UAL.’
In trading Wednesday morning (October 18, 2023), shares in United Airlines Holdings, Inc. (NASDAQ: UAL) were down 6.57% to $37.48/share (9:35 AM EDT).
Source: United Airlines/PRNewswire