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 legal@industrydive.com.