United Airlines (UAL) Q2 Financial Results Preview

United Airlines Holdings Inc (NASDAQ:UAL) in its current form is a result of merger of several airlines founded in the 1920s. Over the years, the company grew through aggressive expansion and acquisitions. It was the first airline to start flights on the Boeing 777 airplane in the mid-90s. Today, United is a leading airline operating across all major regions around the world.

The Chicago, Illinois-based airline recently announced its financial results for the second quarter. United Airlines reported a loss of $1.34 per share for the three months ended June 30, compared to a loss of $5.79 per share in the comparable period of 2020. On an adjusted basis, the company lost $3.91 per share, narrower than a loss of $3.96 per share forecasted by analysts.

Revenue came in at $5.47 billion, significantly higher than $1.48 billion in the year-ago quarter. Analysts, on average, were expected United Airlines to report revenue of $5.35 billion. Capacity was down 46 percent when compared to the second quarter of 2019.

Speaking on the results, CEO Scott Kirby said, “Thanks to the professionalism and perseverance of the United employees who have worked so hard to take care of our customers through the pandemic, our airline has reached a meaningful turning point: we’re expecting to be back to making a profit once again. As we emerge from the most disruptive crisis our company has faced, we’re now focused squarely on our United Next strategy that will transform our customers’ onboard experience and help fulfill United’s incredible potential.”

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