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United Airlines (NASDAQ: UAL) reported its first quarterly profit on Wednesday for the first time since the beginning of Covid-19 pandemic.
The airline posted net income of $329 million in the second quarter but also warned of challenges it might face in the future due to high fuel prices and recession worries.
“It's nice to return to profitability – but we must confront three risks that could grow over the next 6-18 months. Industry-wide operational challenges that limit the system's capacity, record fuel prices and the increasing possibility of a global recession are each real challenges that we are already addressing,” said CEO Scott Kirby.
United said it expects capacity to be 85% and 90% in the third and fourth quarter respectively of the same quarter of 2019.
Picture Credits: Getty Images
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