United said higher fuel costs and its halt of service to and from Tel Aviv will cut into its bottom line in the last three months of the year.
United and other airlines with big international networks benefitted from a surge in trips abroad this summer.said more expensive jet fuel and a halt to the carrier's Tel Aviv flights during the Israel-Hamas war will eat into its profits in the last three months of the year.
For the current quarter, the Chicago-based carrier estimated adjusted earnings of between $1.50 and $1.80 a share, below analysts' forecasts of $2.06.in July of between $11 and $12 a share, based on its projection for the fourth quarter. Jet-fuel prices in major U.S. airports are up nearly 25% since the start of summer.their flights to Israel earlier this month. United had more service to Israel than any of the U.S.-based airlines with service from Washington D.C.
United said its fourth-quarter revenue will rise year-over-year between 9%, if Israel flights remain suspended through the end of the year, and 10.5% if the suspension lasts only through October. Its costs, excluding fuel will likely rise between 3.5% and 5% in the fourth quarter from 2022, United said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
United says pricier fuel, war in Middle East will weigh on profitsUnited said higher fuel costs and its halt of service to and from Tel Aviv will cut into its bottom line in the last three months of the year.
Read more »
United says pricier fuel, war in Middle East will weigh on profitsUnited said higher fuel costs and its halt of service to and from Tel Aviv will cut into its bottom line in the last three months of the year.
Read more »
United says pricier fuel, war in Middle East will weigh on profitsUnited said higher fuel costs and its halt of service to and from Tel Aviv will cut into its bottom line in the last three months of the year.
Read more »
United says pricier fuel, war in Middle East will weigh on profitsUnited said higher fuel costs and its halt of service to and from Tel Aviv will cut into its bottom line in the last three months of the year.
Read more »
United Airlines issues new boarding policy – and it’s a perk for middle seat flyersThe airline's new policy will go into effect on Oct. 26.
Read more »
Middle East tension set to continue to weigh on marketsWhen you consider how uncertain the current geopolitical backdrop is, it was surprising that markets in Europe managed to hold as well as they did las
Read more »