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United Airlines reports Q1 loss but bullish on summer
Business and Economy

United Airlines reports Q1 loss but bullish on summer

by  AFP 1 min read
United Airlines CEO Scott Kirby said travel demand remains robust despite macroeconomic concerns
United Airlines CEO Scott Kirby said travel demand remains robust despite macroeconomic concerns. Photo: Logan Cyrus / AFP/File
Source: AFP

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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.

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.

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

Source: AFP

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