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United Airlines forecasts nearly $6 billion more in fuel costs

United said its jet-fuel costs rose 84% year over year to $2.3 billion, even as it beat Wall Street earnings expectations and raised guidance.

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United Airlines reported earnings that topped Wall Street expectations and raised its full-year guidance, but investors focused on the company’s outlook for higher jet-fuel spending, MarketWatch reported. The airline said it expects nearly $6 billion in additional fuel expenses for the year, based on crude prices as of Tuesday, and it said it aims to recover some of that increase. In the latest results, United’s jet-fuel costs rose 84% year over year to $2.3 billion.

MarketWatch said the stock fell despite the results, reflecting how the forecasted fuel bill could pressure costs for the year.

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