A ground crew member directs a United Airlines flight to the gate in Terminal A at Newark Liberty International Airport (EWR) in Newark, Latest Jersey, U.S., Thursday, January 12, 2023.
Aristide Economopoulos | Bloomberg | Getty Images
United Airlines shares fell about 6% in out-of-hours trading on Monday after the carrier forecast a loss in the first quarter, citing weaker demand growth in comparison with other months and better fuel costs.
The airline expects an adjusted quarterly loss of 60 cents to $1 per share, in comparison with previous forecasts of an adjusted profit of fifty cents to $1 per share for the first three months of the 12 months.
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“While all months of 2023 are expected to deliver significantly higher unit revenue than the corresponding months of 2019, the Company is seeing latest seasonal patterns in demand, with lower demand months comparable to January and February 2023 growing more slowly than months of upper demand,” United told wa submission of securities after the stock market closed on Monday.
The carrier said it had cut its unit revenue estimates to 22-23% on the previous 12 months as a result, in comparison with previous forecasts of 25% growth.
As travelers return to more traditional booking patterns, comparable to traveling around holidays and other popular holiday periods, revenue in the second quarter is prone to be higher than previously expected, with operating revenue increasing over the past 12 months, the company said.
The airline said it still expects to earn between $10 and $12 per share This 12 monthson an adjusted basis.
The Chicago-based carrier is as a consequence of present itself at the JP Morgan industry conference on Tuesday together with other airlines, including Delta, American AND JetBlue.