https://nighthawkrottweilers.com/

https://www.chance-encounter.org/

Business

United incurs a loss of 646 million dollars as omicron casts a shadow




United Airlines lost $ 646 million in the fourth quarter and said Wednesday that the current increase in COVID-19 cases will hurt results in the March quarter.

The airline said it expects revenues in the first quarter to fall by 20% to 25% from the same period in 2019. Costs excluding fuel will rise by approx. 15% per seat.

GET FOX BUSINESS ON THE MOVE BY CLICKING HERE

The Omicron variant of the virus appears in United̵[ads1]7;s plans for 2022. The airline had once hoped to operate 5% more flights than it did in 2019, but now expects to fly less this year than it did before the pandemic.

United said omicron is hurting bookings in the short term, but the outlook is better for travel in the spring and summer. The Chicago-based airline said it is on track to reach long-term economic goals for 2023 and 2026.

AT&T, VERIZON ALTER 5G LAYOUT WARNING UNITED AIRLINES ABOUT POTENTIAL FLIGHT CANCELLATIONS

The company’s officials are scheduled to discuss the results with analysts on Thursday.

United’s loss in the fourth quarter compared to a loss of $ 1.9 billion a year ago and a profit of $ 641 million in the fourth quarter of 2019.

Excluding special items, the company said the adjusted loss was $ 1.60 per share. Analysts expected a larger loss of $ 2.09 per share, according to a FactSet survey.

Ticker Safety Last Change Change%
UAL UNITED AIRLINES HOLDINGS INC. 44.40 -1.21 -2.65%

Revenue was $ 8.19 billion, 25% over the same period in 2019, but better than the $ 7.96 billion forecast. Passengers flew 28% fewer miles than they did two years earlier.

United lost $ 1.96 billion throughout 2021, even after receiving $ 4 billion in federal pandemic assistance to cover labor costs.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

The airline ended the year with 84,100 employees, down from 95,900 at the end of 2019.

Shares in United Airlines Holdings Inc. fell around 2.4% in expanded trading following the release of the earnings report.



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/