By Yasin Ebrahim
Investing.com -- United Airlines reported Tuesday third-quarter results that topped estimates and the airline sees stronger travel demand offsetting pressure from the deteriorating macroeconomic environment.
United Airlines (NASDAQ:UAL) shares were up more than 3% in after-hours trading.
United Airlines Holdings announced earnings per share of $2.81 on revenue of $12.90 billion. Analysts polled by Investing.com anticipated an earnings of $2.24 a share on revenue of $12.72 billion.
Third quarter cost per available seat mile, or CASM was up about 28% compared with the third quarter 2019.
Looking ahead, the airline said it now expected fourth-quarter adjusted operating margin to be above 2019 for the first time, and it remained "confident" of meeting its adjusted pre-tax margin target of about 9% in 2023.
Commenting on the rebound in travel demand, United Airlines said air travel is still in the "COVID recovery phase, hybrid work gives customers the freedom and flexibility to travel for leisure more often, and external supply challenges will limit industry supply for years to come."