United Airlines reports $124 million loss in a quarter marred by grounding of some Boeing planes

Source: Associated Press Finance, via Yahoo! Finance

Associated Press Finance

United Airlines reports $124 million loss in a quarter marred by grounding of some Boeing planes

DAVID KOENIG
Tue, Apr 16, 2024, 4:14 PM EDT * 1 min read

United Airlines said Tuesday that it lost $124 million in the first quarter, which it blamed on a three-week grounding of all Boeing 737 Max 9s after a panel blew off an Alaska Airlines Max jetliner in January.

United indicated it would receive far fewer new planes from Boeing this year than it expected, and it has begun leasing Airbus jets to fill out its fleet.

Financial results released by the airline pointed to continued strength in demand for air travel, especially within the United States and across the Atlantic. United forecast better-than-expected profit in the second quarter.

In the first quarter, however, United said it was hobbled by the temporary loss of its 79 Max 9 aircraft during most of January. The airline was forced to cancel hundreds of flights and switch planes on many others.

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