United Airlines has reported a pre-tax margin of over 9% for the fourth quarter of 2022 and expects profit per share of between US $10 and US $12 in 2023, the airline announced on January 17.
The expected increase would amount to a four-fold increase on the US$2.52 per share reported for the previous year.
For the fourth quarter of 2022, the carrier reported a net income of US $843 million and adjusted net income of US $811 million. Capacity was down 9% compared to fourth-quarter 2019 but total operating revenue of US $12.4 billion was up 14% compared to the same pre-pandemic period.
During the quarter, the carrier announced the largest order of widebody aircraft in US aviation history. United said further that despite 36% of its December 21-26 flights being exposed to winter storms, 90% of passengers landed at their destinations within four hours of the scheduled arrival time.
"Our dedicated team used our state-of-the-art tools to prepare for the bad weather, take care of our customers and quickly recover once the worst of the weather had passed", said chief executive Scott Kirby, ahead of a January 18 conference call to discuss the airline's 2022 earnings and investor updates.
However, United pilots, flight attendants and mechanics said they would stage an informational picket in San Francisco International Airport the same day, accusing the airline of "negotiating delays" and an "unwillingness to invest" in crew amid ongoing contract and salary talks.