Business & Investment

United Airlines: Delta variant “delayed” recovery but is now in orbit

United Airlines Holdings surprised investors late Tuesday, outperforming expectations, rebounding premium leisure travel, “continuous recovery” of business trips, and relaxing travel restrictions at some international destinations Fixed quarterly beats. ..

United
UAL,
-2.01%

He said he reversed the loss of $ 1.8 billion ($ 6.33 per share) in the third quarter of 2020 and earned $ 473 million ($ 1.44 per share) in the quarter. Adjusting for temporary items, the company lost $ 1.02 per share in the quarter. ..

Revenues increased from $ 2.5 billion a year ago to $ 7.8 billion. This is compared to sales of $ 11.4 billion in the third quarter of 2019.

Analysts polled by FactSet expected United to report an adjusted loss of $ 1.58 per share for a quarterly earnings of $ 7.64 billion.

“Although the Delta variant has delayed recovery, the United team remains focused on its long-term vision and will not be fooled by short-term volatility,” Scott Kirby, CEO, said in a statement. Said.

“With the resumption of business trips, the planned reopening of Europe and the early signs of opening in the Pacific, the headwinds we faced are turning into tailwinds,” he said.

After lowering the regular session by 2%, the stock price rose by more than 2% in the extended session.

United plans to increase its international capacity by 10% next year, while keeping its domestic capacity flat. Capacity, or the number of seats available to airlines on that route, decreased by 28% in the quarter compared to the third quarter of 2019. The company predicts that capacity in the fourth quarter will decrease by about 23% compared to the same quarter. 2019.

reference: Goldman Sachs has downgraded American Airlines and JetBlue, but airlines still say it’s “positive.”

Delta Air Lines Co., Ltd.
DAL,
-1.37%

Posted last week Its first adjusted pandemic profitHowever, stock prices fell as investors worried about rising fuel, wage and maintenance costs, and uncertainty swirled during the holiday season.

Related: No, it wasn’t a pilot’s “sick out”: this is what’s behind the recent flight turmoil in the Southwest

United stocks have risen 7% so far this year, compared to a 20% rise in the S & P 500 Index.
SPX,
+ 0.74%

3.5% for US Global Jet ETFs
Jets,
-1.07%
..

United Airlines: Delta variant “delayed” recovery but is now in orbit

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-76DF-E16D7679017B%7D&siteid=rss&rss=1 United Airlines: Delta variant “delayed” recovery but is now in orbit

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