Traveling Workers Drive Up Airline Earnings

Remote workers have brought in a tidy sum for several major carriers.

Remote workers have brought in a tidy sum for several major carriers.

While the COVID-19 pandemic has reached a more manageable state, many businesses and companies have remained with the remote work framework, whether due to cost-cutting or boosted employee productivity. The removal of a static office space has allowed these workers to travel around much more freely, and the increase in traffic has been beneficial to the recovering airline industry.

“Hybrid work allows every weekend to be a holiday weekend,” United Airlines CEO Scott Kirby told CNBC.

“It wasn’t money that constrained people from travel. It was time,” Kirby said. “They’re untethered from the desk.”

United Airlines posted $12.88 billion in profits for the year, beating analyst expectations and putting them on track for a solid end to 2022. American Airlines turned a tidy profit as well, albeit to a lesser extent, bringing in a solid $483 million in revenue. These strong sales are both good for the companies’ bottom lines in general, as well as helpful in offsetting the rising cost of things like fuel.

“American’s third-quarter results, including our record revenue performance, are significant considering the macroeconomic uncertainty facing so many people,” American Airlines CEO Robert Isom said in a press call. “Demand remains strong.”

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