Earnings

United Airlines (UAL) expects omicron surge to further delay recovery

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An aircraft takes off from O’Hare International Airport on January 18, 2022 in Chicago, Illinois.

Scott Olson | Getty Images

United Airlines said the surge in Covid-19 infections has hurt bookings in recent weeks and will further delay its recovery from the pandemic.

The Chicago-based airline said it expects first-quarter revenue to be 20% to 25% below the same period in 2019 when it generated $9.59 billion.

United lowered its 2022 growth forecast, saying it would fly less this year than it did three years ago, scrapping its plan to increase capacity by 5% from pre-pandemic levels. Costs for the first quarter would be up by as much as 15%, excluding fuel, and capacity down by 16% to 18% from…



Source cnbc.com

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