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United Airlines Makes More Cargo Revenue With Less Cargo

Thursday, October 21, 2021 at 03:04 PM ET

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United Airlines achieved record third quarter revenue for cargo.

Key Takeaways:

United Airlines achieved record cargo revenue in Q3 2021, soaring 84% compared to 2019, despite moving less volume, due to high air cargo rates and an industry-wide capacity shortfall.
Despite strong cargo performance and better-than-expected results, United narrowly missed profitability, reporting a $300 million adjusted net loss in Q3 primarily due to overall revenue decline and rising fuel costs.
The airline expects cargo demand to remain elevated through 2022 and plans a 10% increase in international capacity, anticipating a rebound in premium leisure travel and border reopenings.
However, United forecasts a muted Q4 with an expected loss, indicating ongoing challenges in the overall recovery and from higher fuel prices.

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Editor’s Note: This article originally appeared on FreightWaves.com.

Eric is the Air Cargo Market Editor at FreightWaves. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D.C., correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. He has won two regional Gold Medals from the American Society of Business Publication Editors for government coverage and news analysis, and was voted best for feature writing and commentary in the Trade/Newsletter category by the D.C. Chapter of the Society of Professional Journalists. As associate editor at American Shipper Magazine for more than a decade, he wrote about trade, freight transportation and supply chains. Eric is based in Portland, Oregon. He can be reached for comments and tips at ekulisch@freightwaves.com