United raises profit forecast, trims capacity expansion
United raised its profit forecast for 2018 on Tuesday, as average fares and traffic both rose and it trimmed capacity expansion in the face of soaring fuel costs. Shares of United rose as much as 4.2% in trading after the bell as the airline’s Q2 profit also topped analysts’ estimates. The third-largest US airline forecast adjusted profit for the full year at between $7.25 and $8.75 per share, up from its previous range of $7.00 to $8.50 per share. The carrier cut its plans for capacity growth for the year to a rate of between 4.5 and 5%, a company spokesman said. The company said net income fell to $684m in the quarter ended June 30 from $821m a year earlier, hit by an already-flagged $105m write-down of the value of its Brazil routes. Total operating revenue rose 7.7% to $10.78b, while average fares rose 1.5%.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-07-18/star/united-raises-profit-forecast-trims-capacity-expansion
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United raises profit forecast, trims capacity expansion
United raised its profit forecast for 2018 on Tuesday, as average fares and traffic both rose and it trimmed capacity expansion in the face of soaring fuel costs. Shares of United rose as much as 4.2% in trading after the bell as the airline’s Q2 profit also topped analysts’ estimates. The third-largest US airline forecast adjusted profit for the full year at between $7.25 and $8.75 per share, up from its previous range of $7.00 to $8.50 per share. The carrier cut its plans for capacity growth for the year to a rate of between 4.5 and 5%, a company spokesman said. The company said net income fell to $684m in the quarter ended June 30 from $821m a year earlier, hit by an already-flagged $105m write-down of the value of its Brazil routes. Total operating revenue rose 7.7% to $10.78b, while average fares rose 1.5%.<br/>
