Sawt Falasteen - United Airlines reports Q1 loss but bullish on summer

NYSE - LSE

BCC	-0.71%	77.74	$
NGG	-0.95%	81.86	$
GSK	-0.91%	50.75	$
RIO	-0.86%	83.42	$
CMSD	0.91%	19.78	$
AZN	-0.63%	171.49	$
JRI	0.65%	10.75	$
CMSC	0%	19.6	$
BCE	-2.01%	20.4	$
BTI	-1.66%	59.48	$
BP	2.47%	51.32	$
RBGPF	3.6%	72.77	$
VOD	-2.41%	15.74	$
RELX	-0.2%	40.54	$
RYCEF	-11.47%	15.26	$

United Airlines reports Q1 loss but bullish on summer / Photo: Logan Cyrus - AFP/File

United Airlines reports Q1 loss but bullish on summer

ECONOMY 18.04.2023

United Airlines reported a quarterly loss on Tuesday but offered a bullish summer outlook in light of travel demand that it said still shows no sign of ebbing.

Text size:

The major US carrier reported a first-quarter loss of $194 million, despite a 51.1 percent surge in revenues compared with the year-ago period to $11.4 billion.

But results were hit by higher costs, especially on salaries and for jet fuel.

Still, United Chief Executive Scott Kirby echoed comments from rival Delta Air Lines in touting a still-strong travel market as it eyes a busy summer travel season.

"We are watching the macroeconomic risks carefully, but demand remains strong, especially internationally, where we are growing at twice the domestic rate," Kirby said in an earnings press release.

United projected second-quarter profits of $3.50 to $4.00 per share, in line with analyst estimates, and full-year profits above analyst expectations.

Shares rose 1.4 percent to $43.66 in after-hours trading.

S.Barghouti--SF-PST

Sawt Falasteen - United Airlines reports Q1 loss but bullish on summer

United Airlines reports Q1 loss but bullish on summer

Featured

France to deploy 70,000 police for fresh weekend protests

As Israeli election nears, campaign turns ugly

France to deploy 70,000 police as students urge further protests

Romania blames Russia for new deadly attack on ship