New York — US carrier United Airlines had a strong end of the year thanks to a rebound in travel reporting a net income of $843 million in the three months to the end of December, the company said on Tuesday after the US stock market closed.
In the fourth quarter of 2021, the company sustained a net income loss of $646 million.
Total operating revenue for the 2022 fourth-quarter climbed to $12.4 billion, up from $8.1 billion in 2021.
Despite the sharp rise in fuel prices, United benefited from the strong comeback of air travel as the industry recovers from the impacts of the pandemic.
The quarterly figures clearly exceeded analysts' forecasts. The stock gained around 3% in after-hours trading. The outlook was also well received by investors.
The airline expects continued high demand and forecast adjusted earnings of $10-$12 per share for 2023. This would be more than four times as much as in the previous year.
In the 2022 fiscal year, United recorded a total operating revenue of nearly $45 billion, a 3.9% increase compared to 2019, before the pandemic began.
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