United Airlines ended 2022 with a positive net profit, this being the first time the company has managed to do so since 2019, when it posted a profit of 3 billion of dollars.
In 2022, airlines’ net income was $737 million, compared to a loss of $1.9 billion a year earlier. Free cash flow was $1.2 billion, even if in the fourth quarter of 2022 it was -1,400 mdd.
In general, the airline transported 1,443 million passengers, 11.2% less than in 2019; however, year-end revenue was 3.9% higher, as United earned $44.9 billion from passenger, cargo and other operations during 2022. In 2019, the airline earned $43.2 billion.
“Thank you to the United team for overcoming one of the worst weather events of my career last month to meet so many of our customers home for the holidays,” said United Airlines CEO Scott Kirby.
He mentioned that the company has invested in tools, infrastructure and people, which is why United Airlines has a great advantage and that they are even prepared to accelerate in 2023, as the United Next strategy come true.
The latter was announced on June 29, 2021, and ordered 200 Boeing 737 MAX aircraft (150737 MAX-8 and 50 MAX-10), along with 70 Airbus A321neo aircraft and revealed plans to modernize the remaining fleet of mainline narrow-body aircraft, with the purpose of creating a unique new interior, which would increase premium seats by 75% for each North American departure.
The addition of these planes would add 25,000 jobs, according to Aerotime data.
By the end of this year, United Airlines plans to fly 958 mainline and 445 regional jets, plus the mainline fleet will see its ranks bolstered with 74 Boeing 737 MAX jets and four Airbus A321neo jets, while reducing the number of A319/A320 jets. in eight, while the regional airline fleet will see 18 50-seat aircraft Get out of the United fleet.
To date, American Airlines has not released its full-year results. However, it issued guidance to investors, stating that its fourth-quarter 2022 revenue would be 16-17% higher, compared to fourth-quarter 2019.
The company, headquartered at Dallas Fort Worth International Airport (DFW), will publish its 2022 results on January 26, 2023.
