Aviation giant United Airlines Holdings, Inc. (NYSE: UAL) reported a narrower net loss for the fourth quarter of 2021 as the company’s revenues more than doubled during the period. The results also beat analysts’ estimates.
The airline incurred a loss of $1.60 per share in the fourth quarter, on an adjusted basis, which is narrower than the $7.00-per share loss recorded last year. The reported net loss was $646 million or $1.99 per share, compared to a loss of $1.89 billion or $6.39 per share in the fourth quarter of 2020. The bottom line also beat the Street view.
Fourth-quarter operating revenues more than doubled year-over-year to $8.19 billion. Analysts were looking for slower growth.
Read management/analysts’ comments on UAL’s Q4 results
Shares of United Airlines closed Wednesday’s regular trading lower and lost further during the extended session, immediately after the announcement.