Unit revenues, a key metric tracked by the street, rose 2.7% over the prior year. Cost per available seat mile (CASM) rose 4.3% in the quarter.
The airline has cut back its capacity expansion plan for the year. It now expects it to range between 4.5% and 5.5% compared to 4% to 6% announced in January.
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For the second quarter, United didn’t provide any earnings guidance. Unit revenues are expected to rise 1% to 3%, while the capacity expansion is forecasted in the range of 4% to 5%.
The airline is more optimistic for full year 2018. It has raised the earnings guidance by $0.50 to $7 to $8.50 per share due to seasonally strong demand expected in the second and third quarters. Shares of the airline rose 2.8% in the extended trading hours