Originally Posted by
saturn
It's a slippery figure listening to managment. Said 15B was the goal by 2025. But then they say "net debt", so minus out cash and investments. Do we include operating leases like on the 717? Our pension obligations? The more I look at our numbers, the more I realize there's not a lot of seperation between our financials and say UA's. From an enterprise perspective, not talking about profit sharing.
Yeah it's hard to get a good read on the debt. I'm not sure when they have to refinance it either, as rates are much higher now. Market cap wise though Delta is worth almost twice as much as UA. Which is interesting because Delta is trading at 6.15 times earnings and United is about 6.4...which is absurdly low compared to other industries and the s&p as a whole.
Book value for United is somewhere around 30 billion, delta is 57 billion. Trading at market caps of 18 billion and 32 billion respectively.