CHICAGO (Reuters) -United Airlines on Wednesday forecast a lower-than-expected profit in the quarter through September as worries about rising living costs and an uncertain economic outlook have led to a pullback in discretionary travel spending.
The Chicago-based airline, however, said it has seen an improvement in overall bookings in the current quarter from a quarter ago, with a double-digit acceleration in business travel demand.
United expects an adjusted profit in the range of $2.25 a share to $2.75 per share in the quarter through September. The midpoint of the forecast is $2.50 per share, compared with analysts’ average estimate of $2.60, according to LSEG data.
(Reporting by Rajesh Kumar Singh, Editing by Franklin Paul)
