Apr 18, 2024
2 mins read
2 mins read

United Airlines Lost $124M in Q1, Affected By Boeing Incidents

United Airlines Lost $124M in Q1, Affected By Boeing Incidents

(NEWSnet/AP) — United Airlines said Tuesday it lost $124 million in first quarter 2024.

It blames the loss on a three-week grounding of all Boeing 737 Max 9s after a panel incident on an Alaska Airlines jetliner in January.

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

United forecasts a better-than-expected profit in the second quarter. Shares of United rose 5% in after-hours trading.

The airline had its own difficulties in the first three months of the year. Its CEO reassured travelers that United is safe despite a series of events involving aluminum skin fall-off, a tire dropping from another aircraft and an engine fire.

Federal Aviation Administration has increased oversight of the carrier.

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