United Airlines (UAL) unveiled plans for a $1.5 billion share buyback, its first since the pandemic, as the carrier also reported quarterly results that beat analysts' estimates.

Late Tuesday, United reported third-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $3.33, ahead of its own guidance and expectations of analysts polled by Visible Alpha. It also projected adjusted EPS of $2.50 to $3.00 a share in the fourth quarter, with the midpoint below the $2.92-per-share Visible Alpha estimate.

United CEO Kirby Says 'Unproductive Capacity Left the Market'

The airline said the glutꦛ in 💞airline capacity that had plagued the industry this year had been addressed.

"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," United 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Scott Kirby said.

United's $1.5 billion share buyback marks its first repurchase plan since it suspended its program in 2020 during the COVID-19 pandemic𝔍. 

United shares are rising 1% in premarket trading. They are up 55% this year through Tuesday's close.