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United Airlines Holdings, Inc. (NASDAQ:UAL) is reportedly expected to scale back on employee hiring this year due to Boeing Company‘s (NYSE:BA) delays in delivering new airplanes.
Even though United Airlines is reducing its hiring plans, it still expects to hire a significant number of new employees in 2024, Reuters reported.
While the company initially aimed for 13,000 to 15,000 new hires, its revised target is closer to 10,000, the report added, citing Kate Gebo, head of United’s human resources and labor relations.
Since January, the company has included 4,000 new team members with over 800 pilots and more than 600 flight attendants.
“Our hiring efforts are directly tied to the orders and the growth of our operation,” Gebo added, which the report noted. The company appointed 16,000 new employees last year.
United Airlines, a key Boeing customer, is feeling the pinch from the planemaker’s safety crisis.
Boeing’s slashed production estimates – down 25% to just 66 jets delivered this year – have forced United to scale back its own hiring plans.
This temporary situation has led to them pausing pilot hiring and offering pilots the option of taking unpaid leave to manage their current staffing levels.
United Airlines, however, reiterated its outlook in an exchange filing recently. The company continues to expect second quarter 2024 adjusted EPS of $3.75 to $4.25.
In a press release dated April 16, United Airlines reiterated expectations for full-year 2024 adjusted earnings of $9 to $11 per share.
Price Action: UAL shares are trading lower by 0.82% to $52.29 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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