United Airlines stock jumps as carrier forecasts recovery through year’s end
United Airlines Holdings Inc. stock rallied after hours Tuesday after the airline said it expected the travel rebound to weather a shakier economy, and reported third-quarter results that beat expectations.
On an adjusted basis, United Airlines UAL, +3.19% earned $2.81 per share, compared with a $1.02 per-share loss in the quarter a year ago and $4.07 in 2019. Revenue was $12.877 billion, compared with $7.75 billion a year ago and $11.38 billion in 2019. The carrier also said it expected a 24% to 25% gain in total fourth-quarter unit revenue when compared to the same period in 2019. Adjusted fourth-quarter unit costs were seen up between 11% to 12%, and roughly 15% for the full year, when compared to the respective periods in 2019.
United reported as analysts look for cracks in the travel industry’s rebound and holiday demand, after eager travelers this summer ran into flight delays and cancellations, insufficient staffing and severe weather. Aircraft supply is tight, some executives have said. Airlines have also tried to bulk up flight crews, particularly pilots, after encouraging buyouts in 2020, as the pandemic left the industry without passengers and burning through cash.
Raymond James analyst Savanthi Syth, in a research note last week, said she expected United to see similar momentum, helped by corporate travel and international demand.
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 Airlines to cut service from Hilo to LAX, the airport's last nonstop route to the mainlandHilo International Airport (ITO), which serves the eastern side of Hawaii Island, will lose its only nonstop service to the continental United States come 2023.
Read more »
HS Football United Power Rankings with 1 week to go before postseason cutoffSee who is in position to secure a playoff spot after the final games are played.
Read more »
United relaunches nonstop service to Sydney, Australia from Houston’s Bush Intercontinental AirportWelcome back to the ‘land down under!’ United Airlines will relaunch direct, nonstop flights to Sydney, Australia from Houston’s Bush Intercontinental Airport later this month.
Read more »
Lin-Manuel Miranda hosts free movie screening at NYC’s United PalaceThe venue recently got a major revamp thanks to the celebrated composer.
Read more »
Fatah-Hamas deal: Can Palestinians have a united front against Israel?The goal of the reconciliation deal between rival Palestinian factions is to give Palestinian people “proper elections” and a united political representation for negotiations with Israel.
Read more »