Wed, Oct 16, 8:11 PM (77 days ago)
United Airlines Holdings, Inc. (UAL) reported a net income of $965 million for Q3 2024, down 15.1% from $1.137 billion in Q3 2023, despite a 2.5% increase in operating revenue to $14.843 billion. Operating expenses rose by 4.2%, primarily due to increased salaries and maintenance costs. The passenger load factor decreased to 85.3%, while revenue passenger miles (RPMs) increased by 2.7%. For the first nine months of 2024, net income rose to $2.164 billion, up 7.2% from $2.018 billion in the same period last year, with operating revenue increasing by 5.7% to $42.368 billion. Cash flows from operating activities decreased by $600 million, attributed to higher employee payments. The company maintains strong liquidity, with $14.2 billion in unrestricted cash and equivalents. However, UAL faces uncertainties including rising operational costs, inflation, and regulatory changes. The board approved a new $1.5 billion share repurchase program, reflecting confidence in long-term growth despite current challenges.