United posts $646 million loss, omicron casts shadow over 1Q
ABC News
United Airlines lost $646 million in the last three months of 2021, and the new year doesn't look too good either
CHICAGO -- United Airlines lost $646 million in the fourth quarter and said Wednesday that the current spike in COVID-19 cases will hurt its results in the March quarter.
The airline said it expects its first-quarter revenue will be down 20% to 25% from the same period in 2019. Costs other than fuel will rise about 15% on a per-seat basis.
The omicron variant of the virus is showing up in United’s plans for 2022. The airline had once hoped to operate 5% more flights than it did in 2019, but now expects to fly less this year than it did before the pandemic.
United said omicron is hurting near-term bookings, but the outlook is better for travel in spring and summer. The Chicago-based airline said it is on track to hit long-term financial targets for 2023 and 2026.
