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United Airlines
has to cut its plans to grow capacity next year because of ongoing challenges including higher fuel prices and systemwide operational issues, the company said on Wednesday.
United (ticker: UAL) still expects to be profitable for 2022, and it says third-quarter total revenue per seat mile should improve 24% to 26% over the same quarter in 2019. But it said it would expand flying 8% or less next year over 2019. An earlier forecast had put that growth plan at closer to 20%.
A second-quarter profit of $329 million was the carrier’s first since Covid-19 began two years ago and didn’t include the federal aid that expired last year.
Strong travel demand helped lift total revenue per seat mile—a key metric for airlines—by 24% from the same period