image credit: Adobe Stock

United Airlines’ cargo revenue exceeds $2B despite weak peak season

January 20, 2023


United Airlines last year topped the $2 billion mark for cargo revenue for the second time ever, following a record 2021, despite a weakening shipping environment that pulled down cargo sales 35% in the fourth quarter.

The Chicago-based airline this week reported stronger than expected net income of $843 million behind $12.4 billion in revenue, 14% more than the 2019 benchmark despite 9% fewer available seats. The revenue total included $472 million for cargo, which exceeded the three-year comparison by 49.4%, but fell 35% on a year-over-year basis.

Cargo revenue’s share of the airline’s total revenue fell to 4.8%, down from a high of 11% in 2020 but still above the historical norm of 3%, as passenger operations recovered to near pre-pandemic levels.

Read More on FreightWaves