United Airlines Announces a Net Loss of $1.9 Billion in 2021
United Airlines recorded total operating revenue of $8.2 billion in the fourth quarter of 2021, down 25% compared to the fourth quarter of 2019.
- United Airlines ended 2021 with total available liquidity of $20 billion.
- The airline will invest in innovative technology and will focus on process improvements in 2022.
- In 2021, it launched services to 14 new destinations.
According to the financial results released, United Airlines reported a net loss of $1.9 billion in 2021. The airline reported $24.6 billion of revenue and $25.6 billion in operating expenses. Considering the quarter statistics, United Airlines posted a net loss of $646 million in the quarter ended in December 2021. The airline recorded total operating revenue of $8.2 billion in the fourth quarter of 2021, down 25% compared to the fourth quarter of 2019. Airline’s Total Revenue Per Available Seat Mile (TRASM) dropped 3% compared to the fourth quarter of 2019. The airline’s Cost Per Available Seat Mile (CASM) is up 11% compared to the same period in 2019. United Airlines ended 2021 with total available liquidity of $20 billion. “The United team has been fighting through unprecedented obstacles to, once again, overcome the new and daunting challenges that COVID-19 is bringing to aviation, and I am grateful to each one of them for their commitment to taking care of our customers,” United Airlines CEO Scott Kirby responded in the quarter result announcement.
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