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United Airlines | 8-K: United Airlines Announces First Quarter 2024 Financial Results and Provides Preliminary Financial and Operating Outlook for Second Quarter and Full Year 2024

SEC announcement ·  Apr 16 09:37
Summary by Moomoo AI
On April 16, 2024, United Airlines Holdings, Inc. (UAL), along with its subsidiary United Airlines, Inc., released their financial results for the first quarter of 2024. The report highlighted a pre-tax loss of $164 million, which was a $92 million improvement over the previous year's quarter. Adjusted for certain items, the pre-tax loss was $79 million, marking a $187 million improvement. The results were affected by the Boeing 737 MAX 9 grounding, which had an estimated $200 million impact. Despite this, the company reported a strong operational performance with a 10.1% increase in passenger revenue and a 9.7% increase in total operating revenue compared to the first quarter of 2023. United Airlines also announced adjustments to their fleet plan, expecting a consistent delivery of approximately 100 narrowbody aircraft yearly from 2025 through...Show More
On April 16, 2024, United Airlines Holdings, Inc. (UAL), along with its subsidiary United Airlines, Inc., released their financial results for the first quarter of 2024. The report highlighted a pre-tax loss of $164 million, which was a $92 million improvement over the previous year's quarter. Adjusted for certain items, the pre-tax loss was $79 million, marking a $187 million improvement. The results were affected by the Boeing 737 MAX 9 grounding, which had an estimated $200 million impact. Despite this, the company reported a strong operational performance with a 10.1% increase in passenger revenue and a 9.7% increase in total operating revenue compared to the first quarter of 2023. United Airlines also announced adjustments to their fleet plan, expecting a consistent delivery of approximately 100 narrowbody aircraft yearly from 2025 through 2027. The company's operational highlights included the second-best first-quarter on-time departure performance in its history and a double-digit percentage increase in business demand quarter over quarter compared to pre-pandemic levels. United Airlines' CEO Scott Kirby credited the strong results to the company's operational metrics, safety focus, and financial performance. The report also included updates on customer experience enhancements, network expansions, and community and sustainability initiatives.

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