United Airlines Holdings, Inc. (NYSE: UAL) Tuesday reported a net profit for the fourth quarter of 2022, compared to a loss last year, reflecting the continued recovery in demand.
The airline company reported net earnings of $2.46 per share for the December quarter, on an adjusted basis, compared to a loss of $1.60 per share last year. On an unadjusted basis, it was a net income of $843 million or $2.55 per share for the fourth quarter, compared to a loss of $646 million or $1.99 per share in the comparable period of 2021.
Driving the earnings growth, fourth-quarter operating revenues jumped 51% year-over-year to $12.4 billion. The top line benefited from continued recovery in passenger traffic.
Check this space to read management/analysts’ comments on UAL’s Q4 results
“Our dedicated team used our state-of-the-art tools to prepare for the bad weather, take care of our customers and quickly recover once the worst of the weather had passed. Over the last three years, United has made critical investments in tools, infrastructure and our people – all of which are essential investments in our future,” said the company’s CEO Scott Kirby.