Earnings release
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News Release United Airlines Worldwide Media Relations 872.825.8640 media.relations@united.com Exhibit 99.1 UNITED A STAR ALLIANCE MEMBER United Releases Second - Quarter Financial Results ; Expects Profitability in the Third Quarter and Beyond Airline projects positive adjusted pre - tax income¹ in second half of 2021 Company sees faster than expected revenue recovery ; costs on track and expects 2022 CASM - ex² to be below 2019 levels ; consistent with United Next plan targeting 2023 CASM - ex²2 down 4 percent versus 2019 CHICAGO , July 20 , 2021 - United Airlines ( UAL ) today announced second - quarter 2021 financial results . The company now expects positive adjusted pre - tax income¹ in the third and fourth quarters of 2021 as travel demand rebounds . The company's second quarter performance largely exceeded original expectations as international long haul and business travel accelerated even faster than anticipated , together with continued yield improvement . Looking ahead , the company expects continued gains as more businesses return by end of summer and into 2022 , with a full recovery in demand anticipated by 2023 . " Thanks to the professionalism and perseverance of the United employees who have worked so hard to take care of our customers through the pandemic , our airline has reached a meaningful turning point : we're expecting to be back to making a profit once again , " said United Airlines CEO Scott Kirby . " As we emerge from the most disruptive crisis our company has faced , we're now focused squarely on our United Next strategy that will transform our customers ' onboard experience and help fulfill United's incredible potential . " * For purposes of this release , profitability refers to positive adjusted pre - tax income , which is a non - GAAP financial measure calculated as pre - tax income excluding special charges ( credits ) , unrealized gains and losses on investments , net . We are not providing a target for or a reconciliation to pre - tax income , the most directly comparable GAAP measure , because we are unable to predict certain items contained in the GAAP measure without unreasonable efforts .