United Airlines beats quarterly profit estimates, lifts 2019 forecast

United Airlines beats quarterly profit estimates, lifts 2019 forecast

United Airlines on Tuesday beat Wall Street estimates for quarterly profit, boosted by strong travel demand and lower fuel costs, and lifted its full-year profit forecast despite the grounding of its Boeing 737 MAX fleet.

FILE PHOTO: United Airlines planes, including a Boeing 737 MAX 9 model, are pictured at George Bush
FILE PHOTO: United Airlines planes, including a Boeing 737 MAX 9 model, are pictured at George Bush Intercontinental Airport in Houston, Texas, U.S., March 18, 2019. REUTERS/Loren Elliott/File Photo

REUTERS: United Airlines on Tuesday beat Wall Street estimates for quarterly profit, boosted by strong travel demand and lower fuel costs, and lifted its full-year profit forecast despite the grounding of its Boeing 737 MAX fleet.

The U.S. airline now expects its 2019 adjusted earnings to be between US$11.25 and US$12.25 per share, compared with its previous range of US$10.50 and US$12. Chicago-based United said adjusted net income rose to US$1.05 billion for the quarter ended Sept. 30, or US$4.07 per share, from US$834 million or US$3.05 per share, a year earlier. Analysts on average had estimated US$3.95 per share, according to IBES data from Refinitiv. Total operating revenue rose 3.4per cent to US$11.38 billion.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli)

Source: Reuters

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