UAL shares are trading at post 911 lows despite boosting liquidity 93 billion in cash, 4 billion unencumbered planes as of 3020, achieving labor peace and improving service. We cannot imagine an industry recovery that leaves out United, which has the industry's most attractive network.
More Quotes from Glenn Engel:
When BA starts growing aggressively again, then the U.K. government will be more willing to open up Heathrow. Why flood the market with supply nowGlenn Engel
People buy these stocks anticipating earnings surprises, so even though these are great earnings, there was no real positive earnings surprise. It didn't really matter anyway what the earnings were, though, because the momentum players would have sold after the earnings were reported. They buy on the rumor, sell on the news.
Glenn Engel
Airline revenue growth has been stronger than expected in recent quarters, particularly in the U. S.. However, we note that U. S. airlines as a whole are likely to be only barely profitable in 2006 and have distressed balance sheets.
Glenn Engel
Being in the middle of the pack isn't particularly exciting in the airline world, because the middle of the pack isn't making money.
Glenn Engel
We estimate that after losing 4 billion pretax in 2005 and 28 billion over the past five years, the U.S. passenger airlines could approach break-even in 2006.
Glenn Engel
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