United Airlines expects to lose money in the first quarter due to the grounding of Boeing Max 9 jets

United Airlines (UAL) said Monday it will lose money in the first three months of this year because of the grounding of its Boeing (BA) 737 Max 9 planes after a panel blew out of a Max jetliner this month. 

United expects to lose between 35 and 85 cents per share in the first quarter. That's worse than analysts have expected. 

The airline based its forecast on an assumption that the Max 9s will be grounded through January, but not longer. Federal regulators have refused to put a timeline on letting the planes fly again, saying it will happen only when they believe the planes are safe. 

United said it will recover to earn a full-year profit of between $9 and $11 per share. Analysts expect a profit of $9.48 per share, according to FactSet.