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.
United Airlines said resilient demand for air travel will help drive profits through the end of the year, offsetting concern about a broader economic slowdown https://t.co/rWvKg1DDUh
— The Wall Street Journal (@WSJ) October 19, 2022
“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.”
American Airlines reports $483 million net income in third-quarter https://t.co/L3q2JjbjNB pic.twitter.com/80q6sFu9oA
— Airlinerwatch (@airlinerwatch) October 21, 2022
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.”
Liz Truss Resigns as British Prime Minister
-
The Federal Reserve announced today that all 31 banks participating in its annual stress test have demonstrated their ability...
-
Wednesday is poised to be a pivotal day for economic news, as investors and economists brace for a crucial...
-
AMC Entertainment Holdings Inc. successfully raised approximately $250 million through a stock sale completed on Monday, coinciding with the...
-
Bank of America has reported impressive first-quarter earnings, surpassing analysts’ estimates for both profit and revenue, driven by better-than-expected...
-
Ken Griffin, the founder and CEO of Citadel, emphasized the importance of prudence in the Federal Reserve’s strategy regarding...
-
Michael Saylor, a prominent figure in the world of cryptocurrency, has seen significant gains this week as the value...
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...
-
Urgent IMF Deal Needed to Prevent Pakistan’s Economic Collapse, Bloomberg Warns Bloomberg, a renowned US-based financial news service, has...
-
Federal student loan borrowers are in a tough situation as the pause on loan payments, implemented during the pandemic,...
-
Silicon Valley Bank’s Acquisition Fallout: Rising Unemployment and Uncertain Future First Citizens BancShares Inc., the new Silicon Valley Bank...