(MENAFN) As the US third largest airline was hit by 185m USD in pre-tax losses due to canceled flights during the hurricane period, United declared its net income of Q3 dropped slightly less than investors were expecting.
It estimated a pre-tax margin of around 3-5% for the current quarter, a sharp fall from 9.8% in 2016, mainly because of the increasingly competitive war in major markets against low-cost airlines such as Spirit Airlines Inc, Spirit Airlines Inc.
United estimates the income from passenger per available seat mile would decrease by 1-3% for the current quarter.
It showed net profit of 637m USD, a 34% drop from 965m USD in 2016 quarter.
MENAFN1910201700450000ID1095964201
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.