Press release
United Airlines Announces Financial Results - Expects Highest Quarterly Revenue in Company History in Q2
First quarter results consistent with company guidance Expects 10% operating margin for Q2; and to be profitable for FY22 Expects Q2 TRASM up about 17%
About this update from United Airlines Holdings, Inc.
[{"type":"text","content":"First quarter results consistent with company guidance\nExpects 10% operating margin for Q2; and to be profitable for FY22\nExpects Q2 TRASM up about 17% \nBusiness and long-haul international bookings accelerating rapidly\nCHICAGO, April 20, 2022 /PRNewswire/ -- United Airlines (UAL) today reported first quarter 2022 financial results and announced it expects to return to profitability in the second quarter on a robust operating revenue outlook, including total revenue per available seat mile (TRASM) of approximately 17% over 2019, the strongest second quarter revenue guidance in company history. The company expects to be solidly profitable in the second quarter with an approximate 10% operating margin (on both a GAAP and adjusted basis1), just 2.9 points less than 2019 operating margin and 3.5 points less than 2019 adjusted operating margin, despite cost headwinds driven by the recent fuel price spike.\nAs the company's Pratt & Whitney-powered Boeing 777 aircraft are expected to gradually return to service, the company will continue to add back capacity based on its ability to best serve customers and will take a long-term view of profitability by not sacrificing operational reliability. The company is also seeing indications that business travel is rapidly returning and expects further improvement in international travel, including Asia.\nThe airline has a bullish outlook on the future – bolstered by this persistent strength of demand and the fact that it is nearing 2019 operating margins – and once again reiterated confidence in its longer term United Next targets of adjusted pre-tax margin2 of approximately 9% in 2023 and about 14% in 2026. This confidence is underpinned by the company's current expectation to report a profit for the full year 2022.\n\"I am proud of the United team that once again managed to overcome the challenges of the quarter and prioritized high operating reliability for our customers by gradually adding back capacity. Our team continues to do an outstanding job of caring for our customers,\" said United Airlines CEO Scott Kirby. \"The demand environment is the strongest it's been in my 30 years in the industry – and United and its customers will benefit more than any other airline. We're now seeing clear evidence that the second quarter will be an historic inflection point for our business. It leaves ...