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May 16, 2022

United Air raises outlook for summer travel as demand heats up

Gordon Reid discusses United Airlines


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United Airlines Holdings Inc. sees even stronger travel demand this summer, with second-quarter passenger revenue increasing as much as 25 per cent over the 2019 level, the airline said Monday in a filing.

United told investors last month it would return to profitability in the second quarter with the aid of record sales, spurred by strong recovery for summer travel. Chicago-based United on Monday also affirmed a 10 per cent operating margin for the second quarter.

United shares rose as much as 4.4 per cent to US$45.46 after the close of regular trading in New York.

United also said Monday its jet fuel costs also continue to rise, with the company planning to pay US$4.02 a gallon, up from US$3.43 just weeks ago.

Less than a month ago, United forecast passenger revenue to be about 17 per cent above the same period of 2019, owing to the strong demand and capacity that remains roughly 14 per cent below pre-pandemic levels.

The company will present Tuesday at a Bank of America investor conference.