United Airlines Holdings Inc on Monday forecast an unexpected loss in the current quarter, citing lower demand as well as higher costs from a potential contract deal with pilots.
United and American Airlines
are now under pressure not just to conclude their pilot contract negotiations, but also better Delta's deal. United is now accounting for an agreement with its pilots, who have been conducting informational pickets to express frustration over delays in negotiations, in the current quarter instead of the second quarter.
As a result, it expects non-fuel operating costs to be flat to up 1% year-over-year. The costs were projected to be down 3%-4% earlier.The company also expects its fuel bill in the quarter to be about 4% to 7% higher than the previous estimate.in the past year even as the industry enjoys the strongest consumer demand since the start of the pandemic.
Reporting by Rajesh Kumar Singh in Chicago and Kannaki Deka in Bengaluru; Editing by Devika Syamnath, Aurora Ellis and Chris Reese
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