United Airlines Reports 32% Drop in Revenue for Third Quarter

By Paul Riegler on 20 October 2021
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United Airlines announced financial results for the third quarter of 2021.

The Chicago-based airline reported net income of $473 million, a figure that was boosted by $1.13 billion in federal payroll aid, on revenue of $7.75 billion,

Net income was down 54% from $1,024 million in 2019, while revenue fell 31.9% compared to the same period in 2019.

United said that, despite the impact of the Delta variant of the coronavirus in the third quarter, it “remains confidently on track to achieve the range of longer term financial targets” that it set forth earlier in the year.

“The recovery was delayed by the Delta variant, but the United team remains focused on our long-term vision,” said the airline’s CEO, Scott Kirby.

Both TRASM, or total revenue per available seat mile, and CASM, or cost per available seat mile, were down, namely by 5.1% and 5.6% compared to the third quarter of 2019, respectively.

United said that, looking forward to the fourth quarter, it expects capacity to be down approximately 23% when compared to Q4 2019, and revenue to be down 25% to 30% compared, also compared to Q4 2019.

(Photo: Accura Media Group)

Accura News

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