United Announces Third (3rd) Quarter 2021 Financial Results
October 22, 2021
This week, the company announced its third-quarter 2021 financial results. Despite the impact of the COVID-19 Delta variant on United’s third-quarter revenue, the company remains confidently on track to achieve the long-term financial targets laid out earlier this summer. One highlight reported by management was that third-quarter 2021 capacity was down 28% compared to third quarter 2019. Also, the company stated a significant amount of debt was raised to make it through COVID, which must now be repaid.
However, United stated that the company remains "confidently on track to achieve the range of longer-term financial targets" it provided in the summer of 2021. The company cited a rebound in premium leisure travel, recovery of business travel, reopening of European borders in November, and loosening travel restrictions elsewhere in the world as factors supporting its recovery. The company plans to increase international capacity by 10% in 2022, while Domestic capacity remains flat relative to 2019. Generally, United expects the fourth-quarter 2021 capacity to be down roughly 23% and total revenue to be down 25% to 30% compared to the fourth quarter in 2019. For more information regarding the third-quarter financial results, please go to Flying Together.