Benzinga | Jan 19, 2022 04:33PM EST

United Airlines Sees Q1 2022 Capacity Down 16%-18% Vs Q1 2019; Sees Q1 2022 Revenue Down 20%-25% Vs Q1 2019

* Expects first quarter 2022 capacity to be down 16% to 18% versus first quarter 2019.5

* Expects first quarter 2022 total operating revenue to be down 20% to 25% versus first quarter 2019.

* Expects first quarter 2022 CASM-ex1 to be up 14% to 15% compared to first quarter 2019.

* Estimates first quarter 2022 fuel price of approximately $2.51 per gallon.6

* Now expects full year 2022 capacity to be down versus 2019.5

* Now expects full year 2022 CASM-ex1 to be higher than 2019.

* Expects 2022 adjusted capital expenditures to be around $4.2 billion, plus approximately $1.7 billion in 2021 deferred capital expenditures mainly due to the timing of certain aircraft deliveries delayed to 2022, for a total of $5.9 billion. Remains on track to achieve long-term financial targets from United Next plan.7