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United Airlines raises FY'19 profit outlook despite Boeing groundings

United Airlines Holdings Inc. increased its full-year 2019 profit forecast despite additional flight cancellations caused by the prolonged grounding of Boeing Co.'s troubled 737 MAX aircraft.

The company expects to earn between $11.25 per share and $12.25 per share on an adjusted basis in 2019, up from prior guidance of $10.50 per share to $12.00 per share in July.

In the third quarter, United Airlines' adjusted net income grew to $1.05 billion, or $4.07 per share, from $834 million, or $3.05 per share, from the prior-year quarter.

Total operating revenue rose year over year in the third quarter to $11.38 billion from $11.00 billion. GAAP net income increased to $1.02 billion from $833 million.

United Airlines recently extended the cancellations of its 737 MAX flights until Jan. 6, 2020, Reuters reported. The move affects more than 8,000 flights starting in October.