United Airlines reported a 23 percent year-on-year increase in second-quarter profit to $1.32 billion on Wednesday, as record traffic at U.S. airports helped offset higher fuel and personnel costs.
But at the same time, he warned that third-quarter results will fall short of Wall Street expectations.
Like rival Delta Air Lines, United has expressed concern that carriers are creating more flights than necessary, creating an oversupply that in turn prevents prices from rising.
Airlines are reducing their supply through mid-August and beyond, aiming to reduce the oversupply of flights and increase their pricing power.
United’s earnings, which came to $4.14 per share, beat analysts’ forecasts of $3.93 per share, according to a FactSet survey.
In turn, revenue was 14.99 billion dollars, slightly below the 15.04 billion expected by analysts.
Source: www.jornaldenegocios.pt
