United Airlines Holdings has announced that its earnings for the fiscal year ending December 2023 have achieved the forecasted target, with an adjusted earnings per share of $10.05. The full-year net profit amounted to $2.6 billion, with an adjusted net profit of $3.3 billion.
The adjusted earnings per share for the fourth quarter was $2, surpassing expectations. Revenue from premium classes increased by 16% compared to the same period last year, and basic economy saw a 20% increase.
Efforts such as capacity restrictions at its New York/Newark hub have led to a record high on-time arrival rate for the quarter. The preference for operational performance and premium services has been a driving factor in boosting profits.
The 79 Boeing 737-9 models, which are currently grounded, represent about 8% of the production capacity for Q1 2024, and are expected to account for a loss of between $0.35 to $0.85 per share. The company anticipates an earnings per share of $9 to $11 for the full year.
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