United Airlines (NYSE: UAL) is holding a conference call on Thursday morning. In part, the airline said it sees domestic PRASM down 3.5 - 5.5 percent and international down 11 - 13 percent in Q2. The company also is looking at pretax margin of 13 - 15 percent in Q2

Domestic PRASM in Q4 is expected to be flat-to-positive, according to commentary.

United believes industry capacity is outpacing demand in international markets.

Shares of United are down 8 percent mid-morning Thursday. For more on United's Q1 report, click here.