Summary by Moomoo AI
United Airlines Holdings, Inc. (UAL) reported a net loss of $124 million for the first quarter of 2024, an improvement from a net loss of $194 million in the same period of 2023. Operating revenue increased by 9.7% to $12.539 billion, while operating expenses rose by 8.4% to $12.440 billion, resulting in an operating income of $99 million compared to a loss of $43 million in the previous year. The company experienced a 10.1% increase in passenger revenue, driven by a 9.1% increase in capacity and a 0.7% increase in yield. Cargo revenue, however, saw a slight decrease of 1.8%. Salaries and related costs surged by 18.4% due to wage rate increases and an 8.5% rise in headcount. Fuel expenses dropped by 6.9% due to a lower average price per gallon, despite a 7.7% increase in fuel consumption...Show More
