Why Shares in United Airlines Were Higher This Week
Shares in United Airlines (NASDAQ: UAL) rose 23% in the week ending Friday morning. The move comes after the company released a well-received first-quarter earnings report and a slew of Wall Street analyst upgrades.
Investors in United Airlines were concerned about the prospect of slowing revenue growth due to relatively high interest rates pressuring consumer spending, rising costs in the industry, and the negative impact of delayed airplane deliveries from and the grounding of Boeing MAX 9 airplanes following an incident on an Alaska Airlines flight in January.
However, United Airlines' results helped to dispel these fears. Management had expected total revenue per available seat mile (TRASM) to be flat in the quarter, but it rose 0.6% year over year. Premium revenue rose 14% year over year.
Source Fool.com
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