United Airlines lowers profit forecasts due to soaring fuel costs.

United Airlines released its second quarter and full year profit forecasts lower than Wall Street expectations, as soaring fuel prices squeezed profits and cast a shadow over its short-term prospects, despite strong demand for premium travel. The Chicago-based airline said it expects adjusted earnings per share of $1-2 in the second quarter. According to data compiled by the London Stock Exchange Group, the midpoint of this range, $1.50, is below the analysts' average expectation of $2.08. The company forecasts full-year earnings per share of $7-11, while the market consensus is around $9.58. United Airlines stated that based on data from April 17, fuel costs for this quarter are expected to be around $4.30 per gallon, highlighting the pressure brought by rising energy costs. The airline company said it expects to recover only 40-50% of the increase in fuel costs in the second quarter through ticket prices and other revenue measures, this proportion will increase to 70-80% in the third quarter, and reach as high as 85%-100% in the fourth quarter.