United Airlines (NASDAQ: UAL) announced it expects to record a loss in the current quarter, and not the gain investors had expected, due to higher fuel prices and other issues.

The warning has the entire industry under pressure, with shares of United and Delta Air Lines (NYSE: DAL) down about 6% as of 11:56 a.m. ET. Spirit Airlines (NYSE: SAVE) stock declined a more modest 0.5%.

The airline industry has enjoyed a nice post-pandemic recovery in demand, but that comes with additional costs. Late Tuesday, United said that it expects to post a loss of between $0.60 per share and $1 per share in the current quarter, significantly below the $0.63-per-share profit that analysts had expected.

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Source Fool.com