EWR764

While these results are solid, Delta put together a much stronger quarter from a financial perspective. This, plus the Board shakeup and (seemingly averted, for now) threat of a proxy war has to serve to light a fire under the collective rear ends of this management team and BOD. The honeymoon is over, Oscar is back in the saddle and it's time to start delivering improved results before the economic pendulum swings back the other way. If Oscar can't get the workforce unified, and United's financials continue to severely lag Delta, people will be calling for Oscar's head within a year. There's very little leeway given United's chronic underperformance.

It's evident, however, that cutting costs will continue to put United at a disadvantage relative to the competition, so I am hopeful we won't see more of the Smisek-era devaluation of the product to mask the fundamental issues that the airline was (is?) simply getting wrong.