United Airlines recorded second-quarter (Q2) 2023 results with a three-fold increase in profit, making over $14 billion in revenue that resulted in a profit of over $1 billion.
United’s total operating revenue from April to June was $14.2 billion, up 17.1% compared to second-quarter 2022. Its profit was $1.1 billion compared with $329 million in the corresponding period a year ago.
It is interesting to note that despite facing disruption at its hub at Newark Liberty International Airport last month, United managed to achieve these figures.
The airline saw a 27% increase in international capacity during this period versus the same quarter last year and flew the highest volume of revenue passengers since pre-pandemic and achieved the highest month for new enrolled members of the MileagePlus program, with approximately 800,000 new members in June.
Commenting on the results, Scott Kirby, chief executive, United said: “The United team persevered through an unprecedented series of events at the end of last month. They are the best in the business and we're focused on the important changes we can make, especially in Newark, to serve our customers even better.”
United’s second-quarter performance benefited hugely from the strength of its network. In the second quarter, its domestic margins returned to 2019 levels, while international margins were well above the pre-pandemic days.
It flew a daily average of more than 2,400 flights, the most mainline flights in a quarter in company history, and achieved the largest percentage of mainline-operated flights, with 60% of flights flown by mainline aircraft.
The April-June quarter was marked by significant expansion of its international network, with United launching six new international transatlantic routes between Malaga, Spain and Newark; Stockholm, Sweden and Newark; Berlin, Germany and Washington D.C.; Barcelona, Spain and Chicago; Shannon, Ireland and Chicago; and Rome and San Francisco.
It also became the only airline to offer direct service to Christchurch, New Zealand from the Continental United States via San Francisco. It also recently announced a second expansion of its Pacific flying this fall with new flights to Manila, Hong Kong, Taipei, and Tokyo (Narita).