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United Airlines Holdings, Inc. (NYSE: UAL) on Tuesday reported net profit for the fourth quarter of 2022, compared to a loss last year, reflecting a continued recovery in demand.
The airline company reported net income of $2.46 per share for the December quarter, on an adjusted basis, compared with a loss of $1.60 per share last year. On an unadjusted basis, that’s a net profit of $743 million or $2.55 per share for the fourth quarter, compared to a loss of $646 million or $1.99 per share in the same period in 2021.
Driving revenue growth, fourth-quarter operating profit rose 51% year over year to $12.4 billion. The top line is benefiting from the recovery in passenger traffic.
Check out this space to read management/analyst commentary on UAL’s Q4 results
“Our dedicated team uses state-of-the-art tools to prepare for bad weather, take care of our customers and quickly recover once the worst weather has passed. Over the past three years, United has made critical investments in our tools, infrastructure and people – all of which are important investments in our future,” said company CEO Scott Kirby.
(this story will be updated soon)
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