Live news: United Airlines posts loss on high fuel costs but projects Q2 profit

United Airlines reported an adjusted net loss of $207mn in the first
quarter, a smaller shortfall than investors expected.

The Chicago company reported an adjusted loss on Tuesday of 59 cents per share compared to Wall Street’s anticipated 73 cent per share loss.

The company said in March it would lose at least 60 cents per share and
possibly as much as a dollar because of higher fuel costs and fewer
passengers flying in January and February.

The loss improved from last year’s first-quarter results, when United
reported an adjusted net loss of $1.4bn.

Chief executive Scott Kirby said that while United was “watching the
macroeconomic risks carefully” since airlines are vulnerable to
economic downturns, “demand remains strong”.

The company said it expected to earn between $3.50 and $4 a share in
the second quarter and affirmed its full-year guidance of $10 to $12
per share.