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United Airlines Expects 2024 Holiday Season to be Busiest Ever
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United Airlines (UAL - Free Report) , which had a busy summer this year, carrying a record 48 million passengers, expects travel to surge this winter, led by increased travel to Europe. UAL stated that bookings to European destinations have been exceptionally strong and are up nearly 30% from that recorded in 2019 and up nearly 10% year over year.
This indicates that Americans are more inclined to spend their money during holidays on experiences rather than on physical gifts. Per a recent Deloitte survey, consumer spending on holiday experiences is expected to rise 16% in 2024, while spending on physical gifts remains flat.
To meet the expected demand swell during the holiday season, UAL aims to offer nearly 60 nonstop flights each day from its hubs in the United States to Europe in November and December. This offering by UAL is more than any other U.S. airline. Furthermore, through UAL’s partners, connecting travelers can visit even more Christmas markets. UAL’s popular European destinations during the holiday period include London, Frankfurt, Munich, Paris and Brussels.
Driven by upbeat passenger volumes, UAL expects to carry 25 million passengers during the holiday period, up 6% from the year-ago level. In the event of this expectation materializing, 2024 would represent the busiest holiday period yet for UAL.
Driven by the buoyant air-travel demand scenario, shares of the Zacks Rank #2 (Buy) company have outperformed its industry and the S&P 500 index on a year-to-date basis, as shown in the chart below.
Year-to-Date Price Comparison
Image Source: Zacks Investment Research
A busy winter holiday season, as expected by the airline, may boost its stock price further.
Other Stocks to Consider
Investors interested in the Zacks Transportation sector may consider other top-ranked companies like Westinghouse Air Brake Technologies (WAB - Free Report) and SkyWest (SKYW - Free Report) .
WAB has an expected earnings growth rate of 2.01% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average beat of 9.46%. Shares of WAB have risen 69% in the past year.
SkyWest presently flaunts a Zacks Rank #1 and has an expected earnings growth rate of 4.07% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 79.12%. Shares of SKYW have climbed 136.3% in the past year.
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United Airlines Expects 2024 Holiday Season to be Busiest Ever
United Airlines (UAL - Free Report) , which had a busy summer this year, carrying a record 48 million passengers, expects travel to surge this winter, led by increased travel to Europe. UAL stated that bookings to European destinations have been exceptionally strong and are up nearly 30% from that recorded in 2019 and up nearly 10% year over year.
This indicates that Americans are more inclined to spend their money during holidays on experiences rather than on physical gifts. Per a recent Deloitte survey, consumer spending on holiday experiences is expected to rise 16% in 2024, while spending on physical gifts remains flat.
To meet the expected demand swell during the holiday season, UAL aims to offer nearly 60 nonstop flights each day from its hubs in the United States to Europe in November and December. This offering by UAL is more than any other U.S. airline. Furthermore, through UAL’s partners, connecting travelers can visit even more Christmas markets. UAL’s popular European destinations during the holiday period include London, Frankfurt, Munich, Paris and Brussels.
Driven by upbeat passenger volumes, UAL expects to carry 25 million passengers during the holiday period, up 6% from the year-ago level. In the event of this expectation materializing, 2024 would represent the busiest holiday period yet for UAL.
Driven by the buoyant air-travel demand scenario, shares of the Zacks Rank #2 (Buy) company have outperformed its industry and the S&P 500 index on a year-to-date basis, as shown in the chart below.
Year-to-Date Price Comparison
A busy winter holiday season, as expected by the airline, may boost its stock price further.
Other Stocks to Consider
Investors interested in the Zacks Transportation sector may consider other top-ranked companies like Westinghouse Air Brake Technologies (WAB - Free Report) and SkyWest (SKYW - Free Report) .
Westinghouse Air Brake Technologies currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
WAB has an expected earnings growth rate of 2.01% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average beat of 9.46%. Shares of WAB have risen 69% in the past year.
SkyWest presently flaunts a Zacks Rank #1 and has an expected earnings growth rate of 4.07% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 79.12%. Shares of SKYW have climbed 136.3% in the past year.