United Airlines Holdings (NASDAQ:UAL) gained 5.05% in premarket action on Wednesday after reporting stronger-than-anticipated Q1 earnings results and providing a positive outlook for Q2. Without the grounding of the Boeing MAX 9, the airline company would have reported a profit for the first quarter.
In terms of deliveries, United (UAL) expects to receive just 61 new narrow-body planes this year, which was a cut from its prior outlook for 101. “We’ve adjusted our fleet plan to better reflect the reality of what the manufacturers are able to deliver,” noted CEO Scott Kirby.
The reaction on Wall Street to the UAL earnings print was largely favorable.
Deutsche Bank analyst Michael Linenberg said the market is in the process of resetting expectations for United’s (UAL) full-year outlook in light of the issues the company had dealt with during the March quarter and the fact that it had to materially alter its fleet plan because of delayed aircraft deliveries. “The loss of…