United Airlines (UAL) now sees Q2 TRASM 23% - 25%
United Airlines (NASDAQ: UAL)
United Airlines Holdings, Inc. ("UAL"), the holding company whose primary subsidiary is United Airlines, Inc. ("United," and together with UAL, the "Company"), is providing an update regarding its financial outlook for second quarter 2022.
In the period following the Company's previous guidance, the demand environment has continued to improve, resulting in a higher unit revenue outlook for the second quarter 2022. The price of oil has also continued to increase, resulting in a higher expected fuel price for the second quarter 2022. The Company is updating its prior capacity, total revenue per available seat mile ("TRASM"), CASM-ex1, average fuel price and adjusted operating margin2 guidance for the second quarter of 2022:
| Estimated 2Q 2022 | ||||||||||||||
| Updated | Prior | |||||||||||||
| Capacity vs 2019 | ~(14%) | ~(13%) | ||||||||||||
TRASM vs 2019 | 23% - 25% | ~17% | ||||||||||||
CASM-ex1 vs 2019 | 16% - 17% | ~16% | ||||||||||||
| Average Aircraft Fuel Price per Gallon3 | $4.02 | $3.43 | ||||||||||||
Adjusted Operating Margin2 | ~10% | ~10% | ||||||||||||
Pursuant to General Instruction B.2. to Form 8-K, the information set forth in this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"), or otherwise subject to the liabilities thereof, nor shall it be incorporated by reference into future filings by the Company under the Exchange Act or under the Securities Act of 1933, as amended, except to the extent specifically provided in any such filing. Additionally, the submission of the information set forth in this Item 7.01 is not deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely by Regulation FD.