Despite lower-than-expected Q4 earnings, United Airlines expects a silver lining in 2023
One of the most impacted industries by the pandemic was aviation, as many companies had to furlough people to keep themselves afloat.
But as the earnings season began, companies started to reveal their latest financial situation. One of them is United Airlines.
In Q4 2020, United had a loss per share of $7, ahead of the $6.60 expected, on revenues of $3.41 billion. The revenue figures were shy of the $3.44 billion forecasted. This marks the fourth straight quarter when United Airlines posts losses.
Airlines' full-year net loss reported in 2020 was the most significant since 2005 - $7.07 billion.
For the first quarter of 2021, the company forecasts its revenue to come in 65% to 70% lower than that reported in 2019. However, it is looking forward to 2023, when it expects to surpass the pre-pandemic margin.
Following the report, United Airlines stock price fell 2.3%.
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