I'd say third quarter of next year will be the first time we'll see industry-wide profits. It depends on how strongly the economy comes back, and in the case of Delta and Northwest, if they can get additional concessions from their unions.
More Quotes from Ray Neidl:
The cover-up is usually worse than the sin. The union leaders were embarrassed and understandably so. Don was a sacrificial lamb. He made a mistake and he's paying the price. It's unfortunate because American is losing a really seasoned executive.Ray Neidl
My instinct tells me it'll only cover a small fraction of fuel increases.
Ray Neidl
This summer is going to be crucial. If this summer is worse than expected, we could have new talk of bankruptcy in the fall. Even if it's good, I don't see them returning to profitability until the third quarter of next year at the earliest.
Ray Neidl
You want to keep assets in place for when you have a recovery. By the time you're in a recession, you have to be making plans for the recovery. It's not like a factory where you can just lock and then reopen the door. There's a lag effect.
Ray Neidl
Continental can easily go up another 5 or 10 a share, ... as we head into the expected airline rally next winter.
Ray Neidl
They are trying in bankruptcy to bring down their whole cost structure, so there won't be a need for a low-cost unit.
Ray Neidl
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