United Airlines Holdings, Inc. (NYSE: UAL) has reported a sharp decrease in earnings for the fourth quarter of 2023. Meanwhile, the airline company’s revenues increased during the three months.
The company reported a net income of $2.00 per share for the December quarter, on an adjusted basis, compared to $2.46 per share last year. On an unadjusted basis, net income decreased to $600 million or $1.81 per share in Q4 from $843 million or $2.55 per share in the year-ago quarter.
Fourth-quarter operating revenues increased 10% year-over-year to $13.63 billion vs. $12.40 billion in the comparable period of 2022.
“Looking ahead, we expect these trends to continue and United is incredibly well positioned to capitalize on them and to deliver on our short and long-term financial targets,” said the company’s CEO Scott Kirby.