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Shares of United Airlines Holdings Inc. rallied after hours on Tuesday, after the airline forecast a second-quarter profit that was above expectations, helped by strong demand and a rebound in business travel.

United UAL, +1.12% said it expected second-quarter earnings per share of $3.75 to $4.25. That was above FactSet forecasts for a per-share profit of $3.73. The company stuck with its full-year adjusted profit-per-share forecast of $9 to $11.

Shares jumped 5.7% in after-hours trade on Tuesday.

United said its first quarter would have been profitable were it not for the grounding of Boeing Co.’s BA, +1.63% 737 Max 9 jets, in the wake of an mid-flight blowout on one of those planes, flown by Alaska Airlines, in January. United said the groundings cost it around $200 million.

The airline reported a first-quarter net loss of $124 million, or 38 cents a share, compared with a loss of $194 million, or 59 cents a share, in the same quarter last year. Adjusted for special charges, unrealizes losses on investments and deb extinguishment costs, United lost 15 cents a share.

Revenue rose 9.7% year over year to $12.54 billion.

Still, the results topped estimates. Analysts polled by FactSet expected United to report an adjusted loss of 58 cents a share, on revenue of $12.45 billion.

“The demand environment remained strong, with a double-digit percentage increase in business demand quarter over quarter, as compared to pre-pandemic,” United said in its earnings release. “Additionally, the company was able to take advantage of a number of opportunities to adjust domestic capacity, which drove meaningful improvements in first-quarter profitability.”

Chief Executive Scott Kirby, in the company’s earnings release, said the company had adjusted its aircraft fleet to “better reflect the reality of what the manufacturers are able to deliver,” amid limited availability.

United reported results in the wake of a several safety mishaps aboard flights — including a tire that fell off a jet and an engine fire — that triggered a government review and prompted the airline to postpone its investor day. The issues could be an area of focus during the airline’s earnings call on Wednesday morning.

Rival Delta Air Lines Inc. DAL, -0.21% this month said that travel demand remained “robust,” helped by a rebound in corporate travel.