Posted on 05/01/2020 5:30:55 AM PDT by MeneMeneTekelUpharsin
United Airlines Holdings Inc. late Thursday surprised Wall Street with a narrower quarterly loss as it attempted to manage “the most disruptive global crisis in the history of aviation” due to the coronavirus pandemic. United UAL, -5.22% said it lost $1.7 billion, or $6.86 a share, in the first quarter, versus earnings of $292 million, or $1.09 a share, in the year-ago quarter. Adjusted for one-time items, United lost $639 million, or $2.57 a share.
Sales fell to $7.9 billion from $9.6 billion a year ago. Analysts polled by FactSet had expected United to report an adjusted loss of $2.85 a share on sales of $8.3 billion. Total liquidity as of Wednesday was about $9.6 billion, including $2 billion under its yet-untouched revolving credit facility, the company said. United said it expects a daily cash burn to average between $40 million and $45 million during the second quarter of 2020.
(Excerpt) Read more at marketwatch.com ...
When we get to a million, get back to me...”
The thing is that if an outbreak is deadly enough people of their own accord will start changing what they do and how they do it. We are being ORDERED as if this were the Black Plague. It would take a hell of a lot of dearhs to passivly shut down an economy to the extent that we have done in the current ideocy.
“Again, I fear the industry will never be the same.”
Agree. It’s such a bummer for United, American, and Delta as they had just finished squeezing a 10th seat in Economy in their 777’s (which were all delivered with 9-across).
Bummer, I’ll really miss traveling on those planes.
Looking at the analytics, airline ticket costs will easily go to $1,200 average by mid summer. Right now they are hovering at $500. With fleet retirements happening right now, the debt loads incurred by Boeing and Airbus and the airlines, and exaggerated operating costs, expect ticket prices to be $1,500 by January.
Pilots, as you know, just won’t find the aggravation and risk worth it to be a pilot if pay is cut any further. We’ve already seen massive pay cuts over the years. People just don’t know what it takes to become an airline pilot and it really isn’t worth it as it is.
Here’s their chance to Reorganize
I couldn’t agree more.
Same here....hope United goes the way of the Dodo.
Most lousy service, filthy airplanes and disposition from the ticket counter to the flight attendants.
:^ >
Seems to me that the travel industry should be near the top of the list for help following the lockdown.
“Again, I fear the industry will never be the same.”
Air travel has been stoked by low ticket prices. The society might be better off if people lived their lives closer to home (I don’t mean no air travel at all).
So, in summary, yes the industry will never be the same, but that’s nothing to be fearful of.
The widespread changes that are bound to occur will be painful, but the fact is, the world has been running too hot and I don’t mean global warming.
Nah, WWII.
They must have forgotten the Carter years when they couldn’t operate because of the unavailability of jet fuel.
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