AIRLINK 58.23 Decreased By ▼ -0.37 (-0.63%)
BOP 6.24 Increased By ▲ 0.03 (0.48%)
CNERGY 3.97 Decreased By ▼ -0.02 (-0.5%)
DFML 16.07 Increased By ▲ 0.06 (0.37%)
DGKC 67.61 Increased By ▲ 0.29 (0.43%)
FCCL 17.82 Increased By ▲ 0.27 (1.54%)
FFBL 25.40 Decreased By ▼ -0.49 (-1.89%)
FFL 9.15 Increased By ▲ 0.01 (0.11%)
GGL 9.79 Increased By ▲ 0.02 (0.2%)
HBL 113.77 Increased By ▲ 1.27 (1.13%)
HUBC 111.61 Decreased By ▼ -3.68 (-3.19%)
HUMNL 6.55 Decreased By ▼ -0.04 (-0.61%)
KEL 4.39 Increased By ▲ 0.17 (4.03%)
KOSM 4.59 Increased By ▲ 1.03 (28.93%)
MLCF 37.73 Increased By ▲ 0.62 (1.67%)
OGDC 125.21 Increased By ▲ 8.81 (7.57%)
PAEL 22.61 Decreased By ▼ -0.10 (-0.44%)
PIAA 11.10 Increased By ▲ 0.31 (2.87%)
PIBTL 6.17 Decreased By ▼ -0.08 (-1.28%)
PPL 109.07 Increased By ▲ 5.07 (4.88%)
PRL 26.84 Increased By ▲ 0.45 (1.71%)
PTC 10.48 Increased By ▲ 0.95 (9.97%)
SEARL 52.85 Increased By ▲ 0.86 (1.65%)
SNGP 66.38 Increased By ▲ 1.26 (1.93%)
SSGC 11.01 Increased By ▲ 0.08 (0.73%)
TELE 7.13 Decreased By ▼ -0.08 (-1.11%)
TPLP 11.93 Decreased By ▼ -0.06 (-0.5%)
TRG 76.07 Decreased By ▼ -0.78 (-1.01%)
UNITY 20.47 Decreased By ▼ -0.02 (-0.1%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 6,426 Increased By 94.3 (1.49%)
BR30 21,976 Increased By 345.9 (1.6%)
KSE100 62,816 Increased By 901.5 (1.46%)
KSE30 21,134 Increased By 282.7 (1.36%)
Business & Finance

United Airlines reports another loss, bullish on recovery

  • Starting in July, the big US airline will offer international service to Dubrovnik, Croatia, Athens, Greece and Reykjavik, Iceland.
Published April 20, 2021

NEW YORK: United Airlines reported another quarterly loss Monday, but said it sees a "clear path to profitability" now that coronavirus vaccines are becoming more widespread.

The big US carrier, which has suffered from the broad travel industry downturn during Covid-19, said it is positioned for the industry recovery after cutting costs and gradually improving its cash burn position during the pandemic.

"We're encouraged by the strong evidence of pent-up demand for air travel and our continued ability to nimbly match it," said United Chief Executive Scott Kirby.

For the quarter ending March 31, United reported a loss of $1.4 billion, compared with a loss of $1.7 billion in the year-ago period.

Revenues fell 59.6 percent to $3.2 billion.

Much like rival Delta Air Lines, United projected another unprofitable period in the second quarter, when system capacity is expected to be down 45 percent compared with the equivalent stretch in 2019.

Delta said last week it saw "a path to returning to profitability in the September quarter."

Earlier Monday, United said it was adding three new flights from the United States to European markets that are beginning to reopen to vaccinated visitors.

Starting in July, the big US airline will offer international service to Dubrovnik, Croatia, Athens, Greece and Reykjavik, Iceland.

On April 1, United said it will immediately start hiring pilots, beginning with a group of 300, to be ready to meet growing demand for air travel.

Shares of United fell 2.2 percent to $53.80 in after-hours trading.

Comments

Comments are closed.