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United Airlines shares fell about 6% in afterhours trading on Monday after the carrier forecast a first-quarter loss, citing weaker demand growth compared with other months and higher fuel costs.
The carrier expects an adjusted quarterly loss of between 60 cents and $1 per share, down from its previous projections of adjusted earnings of between 50 cents and $1 per share for the first three months of the year.
“While 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,” United said…
Source cnbc.com
