(New York) The American airline United Airlines forecasts a loss in the first quarter of 2024 due to the suspension of Boeing 737 MAX 9 flights, after an incident in early January on an Alaska Airlines flight.
United has the largest fleet of these aircraft (79 planes), currently banned from flying in the United States by the American Civil Aviation Regulatory Agency (FAA).
On January 5, an obstructed cabin door of an Alaska Airlines Boeing 737 MAX 9 flying from Portland, Oregon to Ontario, California, came loose in flight.
Airlines have the possibility of blocking a door when the number of existing emergency exits is sufficient in relation to the number of seats on the aircraft. It was this cork holder that came loose in flight.
This modification has been made on 171 of the 218 Boeing MAX 9s manufactured to date.
United, which had to cancel many flights as a result of the suspension, expects to suffer a net loss of between 35 and 85 cents per share in the first quarter of the current fiscal year, the company announced Monday.
For the whole of 2024, it expects earnings per share of between $9 and $11.
The company revealed these forecasts as part of the publication of its fourth quarter 2023 results, which were better than expected by analysts.
“Despite unpredictable headwinds, we achieved our ambitious earnings per share targets, which few (people) thought was achievable,” commented Scott Kirby, boss of the company, quoted in the press release.
“Looking ahead, we believe these trends will continue and that United is incredibly well positioned to capitalize on them,” he continued, expressing optimism about the group’s ability to achieve its “financial objectives in the future.” short and long term”.
Between October and December, the company recorded a turnover of 13.63 billion dollars (+9.9% year-on-year) and achieved a net profit of 600 million dollars, down 28.8% over a year.
Reported per share and excluding exceptional items – a benchmark for the markets – the quarterly net profit came to $2. This is higher than the consensus which expected $1.69.
Its capacity increased by 14.7% over the quarter compared to the same period of 2022.
For its entire 2023 fiscal year, United reported a 19.5% jump in business to $53.71 billion.
Its net profit more than tripled over one year, going from 737 million in 2022 to 2.62 billion in 2023. Reported per share and excluding exceptional items, it stood at 10.05 dollars after 2.52 dollars a year later. early.
Among the highlights of its financial year, United noted the entry into commercial service of its very first Airbus A321Neo as well as a record number of passengers transported at 165 million over one year.
In addition, the company concluded new collective agreements with several categories of employees – notably pilots – which cost 813 million in 2023 in immediate bonuses.