United Airlines reported “strong and steady domestic demand” and a record-setting international performance for the third quarter, surpassing analysts’ expectations.
In addition, United is projecting average fuel cost per gallon of $3.28 in the fourth quarter, up 11% from $2.95 in the third quarter.United isn’t the only U.S. or global carrier to stop service to Israel, but it had more flights to Israel than other U.S. airlines, with service from Washington, D.C., Newark, and San Francisco, CNBC reported.
Adjusted earnings of $3.65 a share beat the $3.38 a share expected, but analysts were looking for more than just numbers. However, all that wasn’t enough to lift shares, which have now fallen 30% since their July peak. Higher jet fuel prices in the third quarter and rising oil prices in the near term as a result of the Israel-Hamas war are among the factors keeping pressure on airline stocks.
If larger carriers can’t boost their shares by posting strong profits, record revenue, and signaling robust demand, spare a thought for the low-cost carriers including JetBlue Airways , Spirit Airlines , and Frontier Airlines , which are all expected to post a loss.
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