United Airlines reports net income of $843 million in the fourth quarter and $737 million profit in 2022

United Airlines (UAL) reported its fourth-quarter and full-year 2022 financial results.

Fourth-Quarter Financial Results

  • Net income of $843 million, adjusted net income1 of $811 million.
  • Capacity down 9% compared to fourth-quarter 2019.
  • Total operating revenue of $12.4 billion, up 14% compared to fourth-quarter 2019.
  • TRASM of up 26% compared to fourth-quarter 2019.
  • CASM of up 21%, and CASM-ex1 of up 11%, compared to fourth-quarter 2019.
  • Operating margin of 11.1%, adjusted operating margin1 of 11.2%, both up over 2 pts. compared to fourth-quarter 2019.
  • Pre-tax margin of 9.1%, adjusted pre-tax margin1 of 9.0%, both up and around 1 pt. compared to fourth-quarter 2019.
  • Average fuel price per gallon of $3.54.

Full-Year Financial Results

  • Net income of $737 million, adjusted net income1 of $831 million.
  • Operating margin of 5.2%, adjusted operating margin1 of 5.5%.
  • Pre-tax margin of 2.2%, adjusted pre-tax margin1 of 2.5%.
  • Ending available liquidity2 of $18.2 billion.

Top Copyright Photo: United Airlines Boeing 777-222 N769UA (msn 26921) LAX (Michael B. Ing). Image: 959899.

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