United Airlines Officially Kisses Covid-19-Related Shackles Goodbye

On Tuesday, United Airlines Holdings (NASDAQ: UAL) issued its third quarter report, surpassing Wall Street’ estimates. United also announced its first buyback since suspending the program during the Covid-19 pandemic and guided for an improved industry outlook, with shares rallying 13.2% upon the release, jumping on the optimism that airline profits are set to improve. Shares of its airline peers, Delta Air Lines Inc. (NYSE: DAL), Southwest Airlines Co. (NYSE: LUV) and American Airlines Group Inc. (NASDAQ: AAL) also went up for the ride. Delta Air Lines alone made a 5.4% jump during the morning session.

Third Quarter Highlights

For the quarter ended in September, United Airlines reported that revenue grew 2.5% YoY to $14.84 billion, topping LSEG’s consensus estimate of $14.78 billion. Corporate revenue increased 13%, business class tickets grew 5% while sales from ...

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