United Airlines beat analysts' predictions when it announced third-quarter earnings, posting a $473 million profit bolstered by government aid and the huge surge in spring and summer travel.
The carrier would have reported a loss if not for the federal stimulus.
United reported an adjusted loss of $1.02 per share; analysts' cumulative estimates from Refinitiv data were forecasting a loss of $1.67 per share, according to Yahoo Finance.
With the aid, the loss of $1.02 a share became a profit of $1.44 per share for the third quarter.
"The recovery was delayed by the Delta variant, but the United team remains focused on our long-term vision - and not getting sidetracked by near-term volatility - meaning we're solidly on track to achieve the targets we set for 2022," United Airlines CEO Scott Kirby said in a statement. "From the return of business travel and the planned re-opening of Europe and early indications for opening in the Pacific, the headwinds we've faced are turning to tailwinds, and we believe that United is better positioned to lead the recovery than any airline in the world."
United also expects a boost after November 8, the date which fully vaccinated travelers can return to the U.S.
But there are forward-looking issues.
The airline forecasts it will sell just about 23 percent less seats through the end of the year compared to 2019, the pre-pandemic measuring stick airlines are using for comparison's sake.
Moreover, Kirby went on CNBC this morning and expressed concern about the rising cost of jet fuel.
"Higher jet-fuel prices lead to higher ticket prices," Kirby told CNBC's "Squawk on the Street." "Ultimately, we'll pass that through."
Fuel prices are up almost 20 percent in the last month.
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