United Airlines Gains After Raising Revenue Forecast By Investing.com

© Reuters.

By Sam Boughedda

Investing.com — Shares of carrier United Airlines Holdings, Inc. (NASDAQ:) have jumped Tuesday after the company lifted its revenue expectation for the current quarter.

With travel demand booming, the company now expects total revenue per available seat mile to be 23% to 25% above the same period in 2019 and higher than the prior forecast of 17%.

In its first quarter released last month, United Airlines said it expects to return to profitability in the second quarter while also reporting the highest quarterly revenue in its history.

With summer fast approaching, airlines are expecting a surge in bookings and demand in the current quarter.

Other airlines such as IAG (LON:) in Europe and American Airlines (NASDAQ:) are also expecting a profitable second quarter.

United Airlines stock is up 5% Tuesday.

Source: Investopedia