United Airlines achieves 156% profit rise
UNITED AIRLINES has seen its year-to-date (YTD) profits increase by 156.1 per cent to $1.1 billion, with $924 million profit coming from the third quarter.
The third quarter profit of $924 million is up 143.8 per cent on the same period last year, when it was $379 million. In the first quarter, the airline made a loss of $609 million, followed by a $789 million profit in the second quarter. The YTD cargo revenue is up 2.4 per cent to $678 million. Cargo revenue in the third quarter was up 19.1 per cent year-on-year from $199 million to $237 million. In the first and second quarter cargo revenue was $209 million and $232 million, respectively, down 7.9 per cent and 1.7 per cent year-on-year, respectively.
United Airlines chairman, president and chief executive officer, Jeff Smisek says: "Our third-quarter results demonstrate continued progress, and I want to thank our employees for their contributions to our success. We still have a significant opportunity to grow our margins and improve the quality and efficiency of everything we do."
On 4 September, United became the first North American carrier to take delivery of a Boeing 787-9 Dreamliner, the first of 26 it has on order. It has been used on its domestic Los Angeles to Houston route and will be transferred to its Los Angeles to Melbourne (Australia) service on 26 October. During the quarter United also took delivery of four Boeing 737-900 extended range.
In the third quarter it added new routes including services from Guam to Seoul and Shanghai (China), Houston (US) to Punta Cana, and from Newark (US) to London and Ontario (Canada). It also added new domestic routes from Denver to Lafayette and Hays, Houston to Boise and Williston and a seasonal service to Sun Valley. It has also started domestic services from Newark to South Bend, and seasonal services from Newark to Sarasota and San Francisco to Montrose.
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