CO to cut 1700 jobs
Jul 21, 2009, 4:52 am
#1
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CO to cut 1700 jobs
Looks like second quarter earnings took a big dive:
http://www.nytimes.com/aponline/2009...s.html?_r=1&hp
http://www.nytimes.com/aponline/2009...s.html?_r=1&hp
Jul 21, 2009, 4:53 am
#2
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Really wondering what the other airlines post now....
Jul 21, 2009, 5:02 am
#3
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AMR posted a smaller than expected loss:
http://www.marketwatch.com/story/air...arnings-report
as far as the rest, I guess we will see over the next couple weeks, however it does not look good.
http://www.marketwatch.com/story/air...arnings-report
as far as the rest, I guess we will see over the next couple weeks, however it does not look good.
Jul 21, 2009, 6:05 am
#4
Join Date: Dec 2004
Posts: 1,613
WN posted a small profit: http://www.nytimes.com/aponline/2009...-Airlines.html, with revenue down less than 9% (as opposed to more than 22% for CO). Not that surprising given the international premium market is where the disastrous numbers are and WN isn't exposed to it.
Jul 21, 2009, 6:10 am
#5
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Thanks Larry . . .
Looks like second quarter earnings took a big dive:
http://www.nytimes.com/aponline/2009...s.html?_r=1&hp
http://www.nytimes.com/aponline/2009...s.html?_r=1&hp
Jul 21, 2009, 7:52 am
#6
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It's been a rough couple of months with the Swine Flu hype/outbreak & the recession.
Jul 21, 2009, 7:53 am
#7
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Jul 21, 2009, 7:54 am
#8
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Jul 21, 2009, 7:58 am
#9
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UAL Corp. beats by $0.38, reports revs in-line Reports Q2 (Jun) loss of $2.23 per share, non-cash hedging gains and other charges, $0.38 better than the First Call consensus of ($2.61); revenues fell 25.2% year/year to $4.02 bln vs the $4.04 bln consensus.
Jul 21, 2009, 8:05 am
#10
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I am looking at Market Watch under Yahoo.
Airline stocks up after United's quartelry profitExplore related topics
Airlines Nyse Arca Airline UAL Corp US Airways Group Inc Story Quotes Comments Screener (1) Alert Email Print By Christopher Hinton 5.00%2.50%0.00%-2.50%-5.00%10a11a12p1p2p3pXAL UAUA LCC AMR CAL NEW YORK (MarketWatch) -- Airline stocks climbed Tuesday after United Airlines reported a quarterly profit despite the decline in passenger demand.
http://www.marketwatch.com/story/air...?siteid=yhoof2
Apparently UA profit is due to one-time gains such as fuel hedge gains and others, otherwise it lost.
http://finance.yahoo.com/news/United....html?x=0&.v=5
Airline stocks up after United's quartelry profitExplore related topics
Airlines Nyse Arca Airline UAL Corp US Airways Group Inc Story Quotes Comments Screener (1) Alert Email Print By Christopher Hinton 5.00%2.50%0.00%-2.50%-5.00%10a11a12p1p2p3pXAL UAUA LCC AMR CAL NEW YORK (MarketWatch) -- Airline stocks climbed Tuesday after United Airlines reported a quarterly profit despite the decline in passenger demand.
http://www.marketwatch.com/story/air...?siteid=yhoof2
Apparently UA profit is due to one-time gains such as fuel hedge gains and others, otherwise it lost.
http://finance.yahoo.com/news/United....html?x=0&.v=5
Jul 21, 2009, 8:16 am
#11
Join Date: Oct 2008
Posts: 107
Did you really expect CO to make money now based on how they treat elite passengers and let all those schenanigans go on? I don't think so and good for CO that they lost so much. I hope this teaches them a lesson on how to treat their customers from now on.
Jul 21, 2009, 8:22 am
#12
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/end sarcasm
Jul 21, 2009, 8:22 am
#13
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Guess I was correct when I posted I wouldnt be surprised that the reason CO was allowing automatic UPs to FC now also on 'M' fares besides Y & B was due to less Rev coming in
Jul 21, 2009, 8:25 am
#14
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Reading the UA and CO press releases, my guess is that the difference is that UA is reporting a huge mark-to-market gain on fuel hedging as the fuel price rose a little from 1Q09 to 2Q09. They would have booked this as a loss in the past. Hence they make a GAAP profit, but a loss excluding fuel hedge gains. CO was less hedged, so made less of a gain as the mark-to-market value of hedges rose with the oil price.
Jul 21, 2009, 8:26 am
#15
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Reading the UA and CO press releases, my guess is that the difference is that UA is reporting a huge mark-to-market gain on fuel hedging as the fuel price rose a little from 1Q09 to 2Q09. They would have booked this as a loss in the past. Hence they make a GAAP profit, but a loss excluding fuel hedge gains. CO was less hedged, so made less of a gain as the mark-to-market value of hedges rose with the oil price.
