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 story : United Airlines warns of revenue weakness as COVID-19 cases spike #FinanceUSA #StockMarketNEWS Shares of United Airlines Holdings Inc. dropped 1.8% in premarket trading Thursday, after the air carrier

@stockMarketNEWS 16 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

United Airlines warns of revenue weakness as COVID-19 cases spike #FinanceUSA #StockMarketNEWS
Shares of United Airlines Holdings Inc. dropped 1.8% in premarket trading Thursday, after the air carrier warned that third-quarter results will be hurt as the recent spike in COVID-19 cases has led to a deceleration in customer bookings. United now expects third-quarter revenue to be down 33% from the same period in pre-pandemic 2019, while the current FactSet revenue consensus of .41 billion implies a 26% decline. United also cut its third-quarter capacity guidance to be down 28% from 2019 from down 26%, but cost per available seat mile is still expected to be similar to prior guidance. As a result of the revenue weakness, which it expects will continue, United said it now expects an adjusted pre-tax loss in the third quarter, and also expects an adjusted pre-tax loss in the fourth quarter. United's stock has tumbled 20.4% over the past three months through Wednesday, while the U.S. Global Jets ETF has shed 15.0% and the S&P 500 has gained 7.0%.


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