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This will be a rebuilding year, the airline said, as the entire travel industry continues to cope with the economic damage of Covid. First quarter operating revenue is expected to all 65% to 70% against the first quarter 2019, though accelerated distribution of the vaccine could lead to faster improvement, the company said in its earnings release.
First quarter capacity is expected to fall 51% from the first quarter of 2019. Liquidity as of the first quarter end should be the same as the end of the fourth quarter, around $19.7 billion.
United Airlines announced a per-share loss of $6.39 on operating revenue of $3.41 billion. Analysts polled by Investing.com anticipated a loss of $6.56 on revenue of $3.46 billion.
United shares are up 4.46% from the beginning of the year, still down 48.66% from its 52-week high of $88.00 set on January 21, 2020. They are broadly in line with the Nasdaq which is up 4.41% from the start of the year.
United Airlines Holdings shares lost 1.15% in after-hours trade following the report.
The report follows an earnings miss by Delta Air Lines, which said it lost $2.53 a share on revenue of $3.97 billion, compared to forecasts for a loss of $2.5 on revenue of $3.67 billion.
JB Hunt had beat expectations on Tuesday with fourth quarter EPS of $1.44 on revenue of $2.74 billion, compared to forecast for EPS of $1.30 on revenue of $2.56 billion.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
