United Airlines says its third-quarter profit dipped 15% but revenue trends are looking up WSOC TV [Video]

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 seat, turned positive compared with last year on flights within the United States in August and September after lagging 2023 levels in earlier months.

The share-repurchase program is United’s first since 2020, when airlines were barred …