CHICAGO, April 19 (Xinhua) -- United Airlines (UAL) on Monday announced that it suffered a net loss of 1.4 billion dollars in the first quarter of 2021.
The U.S. airline's total operating revenue in the first quarter is 3.2 billion dollars, down 66 percent year-on-year; the operating expenses went down 49 percent; the first-quarter ending available liquidity is 21 billion dollars; and the first-quarter capacity dropped 54 percent year-on-year.
Based on current trends, the company expects second-quarter total revenue per available seat mile to drop approximately 20 percent year-on-year, the capacity to be down around 45 percent, the operating expenses excluding special charges to be down approximately 32 percent, and second-quarter fuel price per gallon to be approximately 1.83 dollars.
UAL expects its second-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin at around 20 percent.
"The United team has now spent a year facing down the most disruptive crisis our industry has ever faced and because of their skill and dedication to our customers, we're poised to emerge from this pandemic with a future that is brighter than ever," said United Airlines CEO Scott Kirby.
"We've shifted our focus to the next milestone on the horizon and now see a clear path to profitability. We're encouraged by the strong evidence of pent-up demand for air travel and our continued ability to nimbly match it, which is why we're as confident as ever that we'll hit our goal to exceed 2019 adjusted EBITDA margins in 2023, if not sooner."
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