Close to 39 million customers traveled with United in the quarter, 90% of the volume for the same quarter in 2019.Achieved a nearly 5-point improvement in customer satisfaction as measured by Net Promoter Score over the second quarter of 2022. Began offering eligible T-Mobile customers free in-flight Wi-Fi and streaming where available on select domestic and short-haul international flights.Ĭustomer Experience and Operational Performance.Added more than 120 flights for college football fans to see their team on the road.Launched United for Business Blueprint™ a new platform that will allow corporate customers to fully customize their business travel program contracts with United.Announced a $15 million investment in Eve Air Mobility and a conditional purchase agreement for 200 four-seat electric aircraft plus 200 options, expecting the first deliveries as early as 2026.Unveiled a brand-new United ClubSM in Terminal 3 at Phoenix Sky Harbor International Airport.Also announced a new direct flight between Newark/New York and Dubai beginning in March 2023, subject to government approval. Announced a historic commercial agreement with Emirates that will enhance each airline's network and give customers easier access to hundreds of destinations around the world.Achieved best on-time arrival rate for any Q3 in history (outside 2020).Reported third quarter 2022 ending available liquidity2 of $20.4 billion.Reported third quarter 2022 payments of long-term debt, finance leases and other financing liabilities of $810 million.Reported third quarter 2022 fuel price of $3.81 per gallon.Reported third quarter 2022 pre-tax margin of 9.0%, adjusted pre-tax margin1 of 8.9%.Reported third quarter 2022 operating margin of 11.3%, adjusted operating margin1 of 11.5%.Reported third quarter 2022 CASM of up 27.8%, and CASM-ex1 of up 14.5%, compared to third quarter 2019.Reported third quarter 2022 TRASM of up 25.5% compared to third quarter 2019.Reported third quarter 2022 total operating revenue of $12.9 billion, up 13.2% compared to third quarter 2019.Reported third quarter 2022 capacity down 9.8% compared to third quarter 2019.Reported third quarter 2022 net income of $942 million, adjusted net income1 of $927 million."Despite growing concerns about an economic slowdown, the ongoing COVID recovery trends at United continue to prevail and we remain optimistic that we'll continue to deliver strong financial results in the fourth quarter, 2023 and beyond." "I am grateful to United employees who delivered an incredible performance this quarter taking care of our customers and producing, by most metrics, the best operational quarter in our history," said United Airlines CEO Scott Kirby. In addition, the company saved more than 135,000 customer connections with its industry leading tool, ConnectionSaver. United delivered one of its best third-quarter operational performances of any third quarter in the company's history, outside of 2020. The company believes there are three durable trends for air travel demand that are more than fully offsetting any economic headwinds: air travel is still in the COVID recovery phase, hybrid work gives customers the freedom and flexibility to travel for leisure more often, and external supply challenges will limit industry supply for years to come. The company also remains confident in the 2023 United Next adjusted pre-tax margin¹ target of ~9%. The airline now expects fourth quarter adjusted operating margin to be above 2019 for the first time. Looking forward through the end of the year, the airline expects the strong COVID recovery trends to continue to overcome the recessionary pressures in the macroeconomic environment. As a result, the company achieved operating revenue growth of 13.2% versus third quarter 2019, with a 25.5% TRASM improvement in the quarter versus 2019, while CASM-ex1 (cost per available seat mile) came in better than expected, resulting in 11.3% operating margin 11.5% operating margin on an adjusted basis1. 18, 2022 /PRNewswire/ - United Airlines (UAL) today reported third quarter 2022 financial results, beating expectations on top-line operating revenue, unit costs and adjusted operating margin¹. Q4 optimism powered by strong revenue and improving cost trendsīest on-time arrival rate and lowest rate of misconnections for any Q3 in history (outside 2020)ĬHICAGO, Oct. United Airlines Third Quarter Financial Results Solidly Beat Expectations Expects Q4 Adjusted Operating Margin to Exceed 2019Ĭompany's September TRASM was third best of any month in company historyĬASM-ex1 for the quarter was 1.5 points better than expected
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |