United shares tumble after airline forecasts first-quarter loss
Publishing timestamp: 2023-03-13 20:54:26
Summary
United Airlines forecasts a first-quarter loss due to weaker demand growth and higher fuel costs. The carrier expects an adjusted quarterly loss of between 60 cents and $1 per share, down from its previous projections of adjusted earnings. The company has observed new seasonal demand patterns, with lower-demand months growing less than higher-demand months. However, as travelers return to more traditional booking patterns, second-quarter revenue is expected to be higher than previously expected. United Airlines still expects to earn between $10 and $12 per share this year on an adjusted basis.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2023/03/13/united-shares-tumble-after-airline-forecasts-first-quarter-loss.html