{"id":3892,"date":"2023-03-14T09:24:58","date_gmt":"2023-03-14T09:24:58","guid":{"rendered":"https:\/\/aviation-news.info\/?p=3892"},"modified":"2023-03-14T09:24:58","modified_gmt":"2023-03-14T09:24:58","slug":"united-airlines-predicts-first-quarter-loss-and-shares-crumble","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=3892","title":{"rendered":"United Airlines Predicts First Quarter Loss And Shares Crumble"},"content":{"rendered":"

Following an unexpected announcement of a first quarter (Q1) loss, shares at United Airlines have swiftly fallen. Shares fell 7% on Monday as the carrier expects losses of $0.6 to $1 per share for Q1, reversing previous guidance of a $0.5 to $1 profit per share in January.<\/p>\n

This has been a turnaround from last year when demand remained strong and fares. However, the knock-on effects of inflation and rising fuel costs are starting to affect the airline’s bottom line. With lower fares, Q1 might be weak, but the carrier expects a swift rebound in Q2 and is sticking to its full-year profit forecast for now.<\/p>\n

The airline released this statement after trading closed on Monday:<\/p>\n

\n
\n

\u201cWhile all months of 2023 are expected to produce unit revenue significantly above the corresponding months in 2019, the Company is observing new seasonal demand patterns, with lower-demand months such as January and February 2023 growing less than higher-demand months.\u201d<\/p>\n<\/div>\n<\/section>\n

\n
\n
\"United<\/picture><\/figure>\n<\/div>\n
Photo:\u00a0Southwest Wyoming Regional Airport<\/div>\n<\/div>\n

A return to traditional booking patterns<\/h2>\n

Further forecasting from multiple North American airlines has shown that travelers are reverting to more traditional travel patterns, such as booking and traveling closer to the holidays. From this, United Airlines expects Q2 to improve as we head through the Easter travel period.<\/p>\n

\n
\n

Get all the latest\u00a0aviation news<\/a>\u00a0right here on Simple Flying.<\/p>\n<\/div>\n<\/section>\n

<\/div>\n

Fuel costs increasing<\/h2>\n

As reported by Reuters, the airline expects overall fuel costs to increase between 4-7% more than previously estimated for this year, with non-fuel expenses rising by 1%.<\/p>\n

\n
\n
\"United<\/picture><\/figure>\n<\/div>\n
Photo: Phillip Pilosian\/Shutterstock<\/div>\n<\/div>\n

When comparing seat miles to total revenue, it is estimated to be up 22-23% in this year’s first quarter compared to last year. This is slower than the growth of 25% the airline previously estimated. As noted earlier in the article, United Airlines expects improved operational figures in the next quarter, which may help offset a challenging first three months of the year.<\/p>\n

On another front, the\u00a0airline revealed its plans to develop sustainable aviation fuel (SAF) from algae<\/a>. By investing $5 million in the algae biofuel producer, Viridos, the carrier aims to unlock algae’s exciting potential in SAF production.<\/p>\n

\n
\n

Get all the latest\u00a0aviation news for North America<\/a>\u00a0here.<\/p>\n<\/div>\n<\/section>\n

<\/div>\n

Weakened demand, but not to Hong Kong<\/h2>\n

With China and Hong Kong relaxing restrictions for travelers earlier this year, the airline’s planned San Francisco International Airport (SFO) to Hong Kong International Airport (HKG) is proving popular based on booking trends. The return of UA877 is scheduled for later this month.<\/p>\n

\n
\n
\"United<\/picture><\/figure>\n<\/div>\n
Photo: Lukas Souza | Simple Flying<\/div>\n<\/div>\n

Looking at statistics, 47% of travelers onboard are usually connecting passengers, with 4% connecting onwards in Hong Kong, versus 43% continuing from San Francisco. The Californian stopover has provided vital connections to popular destinations, in order ranked below:<\/p>\n

    \n
  1. Los Angeles<\/li>\n
  2. Las Vegas<\/li>\n
  3. Portland<\/li>\n
  4. Denver<\/li>\n
  5. San Diego<\/li>\n
  6. Seattle<\/li>\n
  7. Houston<\/li>\n
  8. Mexico City<\/li>\n
  9. Salt Lake City<\/li>\n
  10. Toronto.<\/li>\n<\/ol>\n

    This route has been highly profitable for United and has been operating for a few years. According to figures from the United States Department of Transportation, United flew 221,423 roundtrip passengers between Hong Kong and San Francisco in 2019. That was just before the pandemic struck.<\/p>\n

    \n
    \n
    \"Eurowings_Discover_A330_landing_in_Frankfurt\"<\/picture><\/figure>\n<\/div>\n
    Picture:\u00a0Gameplayzz via Wikimedia Commons<\/a><\/div>\n<\/div>\n
    <\/div>\n

    Eurowings Discover partners with United Airlines.<\/h2>\n

    The US Department of Transportation (DOT) recently approved a codeshare agreement on February 22nd between United and german airline Eurowings Discover. The deal went into effect on March 8th. The United Airlines code will be available on all\u00a0Eurowings Discover<\/a>\u00a0flights from and to North America, consisting of Tampa Bay, Fort Myers, Orlando, Salk Lake City, Las Vegas, Philadelphia, and Anchorage.<\/p>\n

    Sources:\u00a0CNBC<\/a>,\u00a0Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Following an unexpected announcement of a first quarter (Q1) loss, shares at United Airlines have swiftly fallen. Shares fell 7% on Monday as the carrier expects losses of $0.6 to $1 per share for Q1, reversing previous guidance of a $0.5 to $1 profit per share in January. 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