Despite Sixth Straight Quarterly Loss United Predicts (Pre-Tax) Profits In Third And Fourth Quarters

despite sixth straight quarterly loss united predicts pre tax profits in third and fourth quarters

Sumary of Despite Sixth Straight Quarterly Loss United Predicts (Pre-Tax) Profits In Third And Fourth Quarters:

  • With demand, especially among leisure travelers, rebounding strongly since spring, United Airlines .
  • [+] leaders Tuesday reported a much smaller loss for the second quarter and forecast pre-tax profits for the third and fourth quaters ahead.
  • ELIJAH NOUVELAGE/Bloomberg © 2021 Bloomberg Finance LP To no one’s surprise United Airlines today said it lost $434 million, or $1.34 per share in the second quarter ended June 30th, but signaled that it expects to be profitable, at least on a pre-tax basis, in both the third and fourth quarters ahead.
  • The second quarter loss was the sixth-straight quarterly loss for the Chicago-based carrier, with all of those resulting form the unprecedented impact on travel demand and revenue of the Covid-19 pandemic.
  • But United’s management expectation of pre-tax profitability over the last half of this year would seem to indicate that it is expecting a significant increase in demand this fall among business travelers, who typically buy much higher-priced fares.
  • Thus far the demand recovery has been driven almost entirely by leisure travel demand.

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