United Airlines has reported a significant jump in profit for the second quarter of the year, driven by robust demand for international travel. The airline’s earnings soared by over 20% compared to the previous year, with strong performance in international markets contributing to its success.

Despite the positive second-quarter results, United Airlines issued a third-quarter forecast that fell short of expectations. The company anticipates earning between $2.75 and $3.25 per share on an adjusted basis for the current quarter, below the $3.44 per share estimated by analysts.

For the second quarter, United Airlines posted earnings per share of $4.14 on an adjusted basis, surpassing the $3.93 expected by Wall Street. Revenue for the quarter reached $14.99 billion, a 5.7% increase from the previous year, although slightly below the projected $15.06 billion.

United Airlines has reiterated its full-year forecast for adjusted earnings in the range of $9 to $11 per share. The company, along with Delta Air Lines, has stood out in the airline industry despite challenges posed by increased domestic capacity affecting airfares.

Both United and Delta have expanded their international flight offerings, catering to the heightened demand following the pandemic. Additionally, they have introduced premium services such as larger lounges and more spacious seats to attract travelers willing to pay a premium for enhanced experiences.

United Airlines reported that premium revenue surged by over 8% compared to the previous year, while sales from basic economy tickets with stricter conditions increased by 38%. The airline expanded its domestic flight operations by more than 5% in the second quarter, although unit revenues fell slightly.

Yields on flights to and from Europe, accounting for a smaller portion of United’s sales, rose by more than 5% in the second quarter of 2024. United Airlines’ CEO, Scott Kirby, noted that airlines are adjusting their schedules to address the oversupply issue in the market, with expectations for a moderation in supply by mid-August.