United Airlines Holdings, Inc. (NYSE: UAL) reported a wider loss for the first quarter of 2021 when the aviation giant’s revenues declined in double digits. The results also missed analysts’ estimates.
The airline incurred a loss of $7.50 per share in the first quarter, on an adjusted basis, which is wider than the $2.57-per share loss recorded last year. The reported loss was $1.36 billion or $4.29 per share, compared to a loss of $1.7 billion or $6.86 per share in the first quarter of 2020. The bottom line also missed the Street view.
The dismal outcome reflects a 60% fall in first-quarter revenues to $3.22 billion. Analysts were looking for a slightly slower contraction.
Read management/analysts’ comments on UAL’s Q1 results
Shares of United Airlines closed Monday’s regular trading lower and continued to lose during the extended session.