On Wednesday, U.S. airline stocks experienced significant gains. United Airlines (UAL, Financial) saw its shares rise over 8%, Delta Air Lines (DAL) increased by more than 4%, American Airlines (AAL) gained over 2.3%, and Alaska Airlines (ALK) climbed nearly 2%.
The positive market movement followed United Airlines' announcement of its third-quarter revenue, which was $14.843 billion, marking a 2.5% year-over-year increase and surpassing analysts' expectations of $14.78 billion. Revenue from passenger services was $13.561 billion, up 1.6%, cargo revenue was $417 million, up 25.2%, and other revenue was $865 million, up 7.9%.
Additionally, United Airlines announced a $1.5 billion share buyback program, with plans to repurchase $500 million worth of shares during the remaining months of 2024.
