United’s Third Quarter Loss Was Smaller Than Expected Because Travel Demand Edged Upwards

United Airlines Holdings on Tuesday reported a narrower-than-expected third-quarter loss, helped by a recovery in travel demand.

On an adjusted basis, the Chicago-based carrier reported a loss of $1.02 per share, compared with a loss of $8.16 per share last year. Analysts surveyed by Refinitiv, on average, expected the airline to report a quarterly loss of 1.67 per share.

With government pandemic aid, the airline reported a net profit of $1.44 per share for the quarter.

Third-quarter revenue came in at $7.75 billion, compared with $2.49 billion a year ago and was above Wall Street’s estimates of $7.64 billion.

(Reporting by Rajesh Kumar Singh Editing by Bill Berkrot)

This article was from Reuters and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to [email protected].