United Airlines Q2 revenue at $12.1B, highest in history

Wednesday, 20. July 2022 22:31

United Airlines Holdings Inc. announced on Wednesday that its total operating revenue in the second quarter of fiscal 2022 came in at $12.1 billion, jumping 6% from the same period in 2019 and soaring 120% year over year. This was the first time the company recorded a profitable quarter since the Covid-19 pandemic started and the highest second trimester revenue in its history.

The company's net income reached $329 million in the second quarter of 2022, escaping the recorded net loss of $434 million in the same trimester a year earlier. The diluted earnings per share came in at $1.00, improving from the diluted losses per share of $1.34 recorded a year prior.

"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," United Airlines CEO Scott Kirby commented.

The company's shares plunged 6.02% in after-hours trading following the release of the earnings report.

Related Links: United Airlines Holdings Inc.
Author:
Baha Breaking News (BBN) / AY