United Airlines Now Projects Adj. Pre-tax Loss In Q3 - Quick Facts

(RTTNews) - United Airlines, Inc. (UAL) said the company now expects third quarter total revenue to be down approximately 33% from the third quarter of 2019. As a result of the weakness in revenue, the company now projects an adjusted pre-tax loss in the third quarter of 2021. The company now expects third quarter capacity to be down at least 28% from the third quarter of 2019, which compares to initial guidance of down 26%.

United Airlines noted that, if current trends continue, it now expects an adjusted pre-tax loss in the fourth quarter of 2021. The company is currently adjusting fourth quarter capacity to better match the changes in demand.

Based on demand patterns following prior waves of COVID-19, United Airlines anticipates bookings to begin to recover once cases peak.

Shares of United Airlines were down 1.5% in pre-market trade on Thursday.