United Airlines expects to be back in profit in the next three months as travel demand rebounds more quickly than forecast.
In an upbeat statement, the airline said it expected to achieve pre-tax profits in the third and fourth quarters of the year but did not give predictions.
Detailing second quarter results, the carrier said revenue in the three months to the end of June “largely exceeded original expectations as international long haul and business travel accelerated even faster than anticipated”.
United will fly “roughly 80%” of its full schedule in July 2021 compared to July 2019. It predicted capacity in July August and September would be down 26% compared to the same period in 2019, but up 39% on the previous three months.
The carrier reported an adjusted net loss of $1.3 billion for the second quarter, with capacity down 46% compared to the same three months in 2019.
During the past quarter, the airline made its largest-ever order for 270 Boeing and Airbus aircraft and entered a partnership with a manufacturer of a supersonic airliner.
The quarter also saw the resumption of 14 international routes and the planned launch of 10 new international services.