United announces $1.5 bn share buyback as earnings top estimates
A United Airlines plane |
"I appreciate the entire United team coming together to take care of our customers by operating a safe and on-time airline this summer," United Airlines CEO Scott Kirby said in a statement. "As predicted, unproductive capacity left the market in mid-August, and we saw a clear inflection point in our revenue trends that propelled United to exceed Q3 expectations," he continued. . Alongside its earnings, United also announced a new $1.5 billion share repurchase program -- its first since the onset of the Covid-19 pandemic. The firm said the buyback program represents around seven percent of its market capitalization, based on Monday's closing stock price.
Source: AFP
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