United Airlines reports loss despite revenue surge

United Airlines recorded a $256 million pre-tax loss for the first quarter of 2023  (Q1 2023), even as revenue grew 51.% year-on-year to $11.4bn. The loss was “consistent with expectations provided in March”, the carrier said, reporting a net loss of $194 million and adjusted net loss of $207 million. Revenue per available seat mile (TRASM) climbed by 22.5%, cost per available seat mile (CASM) increased 4.%, which the company said were “better than guidance due to strong operational reliability”. Available seat miles (ASMs) were 23.4% higher than the first quarter of 2022 and capacity was up 23.4%. Despite the