U.S. markets closed
  • S&P 500

    4,395.26
    -23.89 (-0.54%)
     
  • Dow 30

    34,935.47
    -149.06 (-0.42%)
     
  • Nasdaq

    14,672.68
    -105.59 (-0.71%)
     
  • Russell 2000

    2,226.25
    -13.78 (-0.62%)
     
  • Crude Oil

    73.81
    +0.19 (+0.26%)
     
  • Gold

    1,816.90
    -18.90 (-1.03%)
     
  • Silver

    25.55
    -0.23 (-0.90%)
     
  • EUR/USD

    1.1872
    -0.0024 (-0.20%)
     
  • 10-Yr Bond

    1.2390
    -0.0300 (-2.36%)
     
  • GBP/USD

    1.3908
    -0.0050 (-0.35%)
     
  • USD/JPY

    109.6500
    +0.1890 (+0.17%)
     
  • BTC-USD

    41,186.97
    +2,162.35 (+5.54%)
     
  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     
  • FTSE 100

    7,032.30
    -46.12 (-0.65%)
     
  • Nikkei 225

    27,283.59
    -498.83 (-1.80%)
     

United’s Narrower Loss, Higher Revenue Props Up Airline Stocks

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

By Dhirendra Tripathi

Investing.com – Stocks of airline companies were among the gainers in Wednesday’s premarket trading as United's (NASDAQ:UAL) narrower quarterly loss on higher revenue boosted sentiment.

United Airlines, Delta (NYSE:DAL) and Southwest (NYSE:LUV) were all up 1.5%. JetBlue Airways (NASDAQ:JBLU) rose 1% as the airline’s numbers reflected traffic is slowly, but surely coming back.

A net loss of $434 million in the three-month period was the airline’s sixth consecutive but much less than $1.62 billion a year earlier, when the pandemic was raging and airlines across the world were grounded. The airline flew over eight times more passengers in the June quarter from a year ago.

Operating revenue jumped more than three-and-a-half times to $5.47 billion as economies reopened and passengers took to travelling again.

The airline expects to offer 39% more capacity in the current quarter but that would still be more than 25% below 2019 levels.

Based on current trends, the company expects total revenue per available seat mile (TRASM) - a key measure of capacity utilization - to be up versus the third quarter of 2019 in the current three months. That would be the first period of positive TRASM growth in over a year.

Related Articles

United’s Narrower Loss, Higher Revenue Props Up Airline Stocks

Verizon Earnings, Revenue Beat in Q2

Irish insurance regulator urges reform of renewal rules