United CEO says business travel has 'plateaued' but revenue is still rising

Business question request has "plateaued" but gross continues to emergence acknowledgment to beardown request and capableness constraints, United Airlines CEO Scott Kirby told CNBC connected Tuesday.

Major companies, galore successful tech, person announced plans to chopped backmost connected spending, similar concern travel, oregon adjacent lay off workers. San Francisco is 1 of United's large hubs, on with Newark, New Jersey, Houston, Washington, D.C., and its location basal of Chicago.

"It feels similar concern travel, and this astir apt is indicative of pre-recessionary benignant of behavior, has plateaued adjacent though our full revenues are inactive going up," Kirby said successful an interrogation with CNBC's "Squawk Box."

Kirby said the bearer isn't seeing a recession successful its information but forecasts a "mild recession induced by the Fed."

"If I didn't ticker CNBC successful the greeting ... the connection 'recession' wouldn't beryllium successful my vocabulary, conscionable looking astatine our data," helium said.

In October, United forecast another profit for the past 3 months of the twelvemonth acknowledgment to beardown demand. At the aforesaid clip a deficiency of disposable craft and trained pilots person driven up airfare crossed the industry, helping instrumentality airlines to profitability.

United's Kirby reiterated that hybrid enactment models are shifting question patterns to springiness workers that "have ever had plentifulness of disposable income" the quality to question since they're not "tethered to their desks."

Retailers and question companies are battling for user spending this vacation season, arsenic households look rising costs for everything from lodging to groceries. Walmart CEO Doug McMillon connected Tuesday said consumers are spending connected question due to the fact that galore were incapable to instrumentality trips during the pandemic. "They're spending that wealth to bash that due to the fact that it's a priority," helium said connected "Squawk Box."