United Airlines Narrows Loss, ‘Expects Profitability’ in Q3 and Beyond

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

The Chicago-based carrier reported a net loss of $434 million, its sixth consecutive loss, and an adjusted net loss of $1.3 billion on revenue of $5.5 billion, down 52% compared to the same period in 2019, but up 70% from the first quarter of the current year.

The company did not release any comparisons in performance with results from 2020 due to the coronavirus pandemic-induced decline in travel.

“Thanks to the professionalism and perseverance of the United employees who have worked so hard to take care of our customers through the pandemic, our airline has reached a meaningful turning point: we’re expecting to be back to making a profit once again,” said the airline’s CEO, Scott Kirby.

United said its capacity for the current quarter will be down 26% when compared to 2019 levels.

The airline flew 46% less in Q2 than it did in the same period in 2019. It said its cost per seat mile, excluding fuel and other special charges, will likely be up 17% over the third quarter of 2019, in part due to it flying shorter routes than usual and using smaller planes that are less fuel efficient on a per-passenger basis.

(Photo: Accura Media Group)

Accura News

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