CHICAGO – United Airlines on Tuesday reported that its third-quarter profit fell 15% from a year ago but revenue trends improved thanks to low-fare carriers scaling back their growth plans for the rest of the year.
The Chicago-based airline’s directors, meanwhile, approved up to $1.5 billion to buy back shares.
United said that by September, it was seeing more strength in corporate, premium and no-frills basic economy travel.
Airline executives have complained about budget airlines cutting prices on economy-class seats because of a glut of flights. Their pricing power is improving, however, as Spirit, Southwest and others trim their schedules and reduce the supply of seats for sale.
United said a closely watched figure, revenue per …