United Airlines expects to return to profitability in the second quarter of 2022, with forecasts of the carrier’s highest quarterly revenue in company history.
The airline said that it was experiencing rapidly accelerating bookings for business and long-haul bookings, with total revenue per available seat mile (TRASM) for the second quarter expected to be around 17 per cent higher than in 2019.
United also said that it expects to be “solidly profitable in the second quarter with an approximate 10 per cent operating margin”.
The forecasts came as the company reported a net loss of $1.4 billion for the first quarter of 2022, with capacity down 19 per cent compared to the same period in 2019.
United said that it had “a bullish outlook on the future”, and expects to report a profit for the full year 2022.
The carrier recently launched its new transatlantic route between Boston and Heathrow, as part of plans to expand its US-Heathrow services to 22 daily flights this spring.
Commenting on the news United Airlines’ CEO Scott Kirby, said:
“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.
“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 me more optimistic than ever about United’s future.”