United Airlines (UAL) 2Q21 Reduces Loss

United Airlines’ Boeing 737 Max 9 aircraft will land at San Francisco International Airport in Burlingame, California on March 13, 2019.

Justin Sullivan | Getty Images

United Airlines Second-quarter earnings were reported to have increased thanks to the resurgence of air travel, the latest airline, which announced a bright outlook on one of the pandemic’s hardest-hit sectors on Tuesday.

The Chicago-based airline expects to generate positive adjusted pre-tax profits in the third and fourth quarters and said it plans to increase flights in response to increasing travel demand. Delta Air Lines And American Airlines Said they saw last week Reservation improvement And Settlement..

Based on the average estimates compiled by Refinitiv, United’s performance in the second quarter compared to what Wall Street expected is:

  • Adjusted results per share: As expected, a loss of $ 3.91.
  • Total income: $ 5.47 billion against expected revenue of $ 5.37 billion.

United’s $ 5.47 billion in revenue for the three months ending June 30 fell by more than 50% from the same quarter of 2019, but more travelers with the U.S. authorities deploying the Covid vaccine in the spring. It has increased by nearly 70% since the first quarter of this year. I returned to air travel.

United posted a loss of $ 3.91 per share after adjusting for temporary items in line with analysts’ estimates.

United said capacity this quarter will be down 26% from 2019 levels. Flight volume in the second quarter was down 46% from 2019. Costs per valid seat mile, excluding fuel and other special fares, are likely to increase by 17% compared to the third quarter of 2019, as they may fly shorter routes than usual. .. Use a small plane.

Airlines have reported a surge in bookings since this spring as vaccines have become more widespread, Covid cases have declined, and authorities have lifted restrictions during the pandemic era.

United executives will discuss the outcome on Wednesday at 10:30 am on the ET call and provide a more detailed outlook.

Analysts are expected to quiz airline management about the trends in international and travel bookings, two pillars of United’s pre-pandemic business. The rapidly becoming popular Delta variant raises concerns about updated travel restrictions.

On Monday, the State Department and the Centers for Disease Control and Prevention advised to ban travel to the UK due to the increasing number of cases.

This is breaking news. Check for updates.

United Airlines (UAL) 2Q21 Reduces Loss

Source link United Airlines (UAL) 2Q21 Reduces Loss

Back to top button