United Airlines Raises Q3 Jet Fuel Price Outlook

(RTTNews) - United Airlines Holdings, Inc. (UAL), an airline holding company, on Wednesday increased its third-quarter guidance for the airline's average fuel price, citing the current upward movement in jet fuel prices.

However, UAL has reaffirmed its third-quarter outlook for capacity, operating revenue, and operating expense per available seat mile.

For the third quarter, the company now expects its average fuel price to be in the range of $2.95 - $3.05 per gallon against its previous guidance of $2.50 to $2.80 per gallon.

Since mid-July, jet fuel prices have increased by over 20 percent.

For the third quarter, the airline still expects a year-over-year capacity growth of around 16 percent.

Adjusted cost or operating expense per available seat mile is still projected to grow from 2 percent to 3 percent.

As announced on July 19, UAL expects its third-quarter adjusted income per share to be in the range of $3.85 - $4.35, with a year-over-year operating revenue growth of 10 percent to 13 percent.

On average, 14 analysts, polled by Thomson Reuters expect the company to record income per share of $4.05, on revenue of $14.43 billion. Analysts' estimates typically exclude special items.