DALLAS: United Airlines Holdings Inc’s profit is poised to beat Wall Street’s expectations this year as the carrier works to overcome the costs from a grounding of certain Boeing Co 737 Max planes. Shares of United and other airlines climbed.
The airline’s full-year forecast suggests a sharp turnaround after this quarter, when United expects an adjusted loss of 35 US cents to 85 US cents a share. That would fall well short of the average 21-US cent loss estimated by analysts.
“The near-term outlook disappoints for well-understood reasons, but there’s enough on both the revenue and cost side for investors to like,” Seaport Research Partners analyst Daniel McKenzie wrote in a research note.
Adjusted earnings will be US$9 to US$11 a share in 2024, United said in a regulatory filing.
The midpoint topped the US$9.45 average of analyst estimates compiled by Bloomberg.
The…