United Airlines’ Financial Performance Results In Profit In Third Quarter

United Airlines’ financial performance remains in the profit zone in its third quarter financial release. This is good news for the company which also made a profit in the previous quarter but did make a loss in the first quarter of the year.

The situation has not been easy for the airline. As with many airlines, United Airlines‘ financial performance suffered during the pandemic when government restrictions meant that demand for flights slumped. To make matters worse, after restrictions were lifted, there was a surge in demand for flights which airlines and airports could not cope with as many staff had been laid off during the pandemic when demand was less. As a result, mass congestion at airports led to many flight delays and cancellations. North America was particularly badly hit during the Independence Day weekend last year, which caused chaos in the United States and Canada. Adverse events affecting North America, such as Storm Elliot and fuel price increases resulting from the Russian invasion of Ukraine, have also affected United Airlines.

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As with many companies, United Airlines suffered during the pandemic. © United Airlines

United Airlines’ Financial Performance

In terms of United Airlines’ financial performance, the company made 1.137 billion US dollars in profit in the three months up to September 30th 2023. This was a 20.7% improvement on the 942 million US dollars made in the three months up to September 20th 2022. In addition, United Airlines’ third quarter results were better than the company’s performance in the second quarter. In the three months up to June 30th 2023, the company’s financial performance resulted in a 1.075 billion US dollar profit. So, the profit made in United Airlines’ third quarter was 5.8% higher than the previous quarter. This shows that United Airlines’ financial performance is moving upward, which is good news.

United Airlines’ revenue (total money received) was 14.484 billion US dollars in the third quarter of the year. This was 12.5% higher than the 12.877 billion US dollars made in the third quarter of last year. It is also 2.2 % higher than the 14.178 billion US dollars made in the previous quarter. This shows that United Airlines is growing in terms of popularity with customers compared to last year and the previous quarter. The fact that profit has increased significantly more than revenue shows that United Airlines is also improving at controlling costs. This is the case when compared to the previous quarter and the third quarter of last year. This shows that United Airlines’ financial performance is better on both counts.

United Airlines' Financial Performance Results in Profit at Year End
United Airlines is growing in terms of popularity. © United Airlines

Improving Customer Service

In addition to improving its financial position, the airline is taking steps to improve accessibility to people with disabilities. It has become the first United States airline to add braille to aircraft interiors. Braille is a system of reading designed for people who are blind, allowing them to read by touching raised points on a surface consisting of words written from a specialized alphabet. It does appear that United Airline’s efforts in improving the air travel experience generally have been recognized by being named Favorite International Airline of the Year for the fourth year in a row and Favorite Frequent Flyer program for the sixth year in a row for its loyalty program MileagePlus by Trazee Travel.

Regarding the company’s response to its financial performance, Chief Executive Officer Scott Kirby has praised United Airlines’ staff, crediting them for what he says was a record-setting operational performance (performance in terms of service delivery) in August and September. He added that United Airlines is on track to meet its financial targets.

As one can see, United Airlines’ financial performance is moving forward on an upward trajectory and has improved its offering to people with disabilities, such as the blind. The airline is also winning awards for its customer service and has had a record-setting performance in service delivery.

What do you think about United’s financial performance this quarter? Let us know what you think in the comments below.

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Amuthan Chandrarajan
Amuthan Chandrarajan
Aviation Reporter - Amuthan has a background in residential and commercial real estate. He also has a keen interest in aviation and travel and has visited many countries. Amuthan has a sound knowledge of business and finance.  He has gained a Master of Business Administration and has become a Chartered Management Accountant. 
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