Higher fuel costs, other rising expenses, and the uncertainty that flights to Israel will remain suspended beyond October forced United Airlines to lower its Q4 guidance. The airline reported good Q3 results, thanks to strong demand on both domestic and international networks.
United reported a $1.137 billion net profit for Q3 compared to $942 million in the same period of 2022. Total revenues grew by 12.5 percent to $14.484 billion from $12.877 billion, of which $13.349 billion is from passenger revenues (2022: $11.653 billion) from 44.4 million passengers, $333 million from cargo ($498 million), and $802 million from other revenues ($726 million).
Expenses were up 11.6 percent to $12.745 million, with staffing costs up by 37.7 percent to $3.914 billion and landing fees by 25.4 percent to $801 million. Fuel costs were down by 11 percent to $3.342 billion. This resulted in an operating income of $17.39 billion versus $1.458 billion last year. Pre-tax income was $1.5 billion and the adjusted pre-tax margin was 10.8 percent.
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