Originally Posted by
FlyPanAm
Raising $2.2 billion unsecured debt has no impact on operating cash flow, not sure what you’re on about. United doubled Delta’s operating cash flow for Q1 ($4.8 billion vs $2.4 billion). That’s the cleanest comparison you’re going to get. United also best Delta in total operating revenue when you remove Trainer ($14.6 billion vs $14.2 billion). This is the first time that has ever happened in the post-consolidation period. There are eye watering results by United and the trend post-COVID has been very clear. I remember last year Kirby saying Hauenstein picked the perfect time to retire.
I was more so stating that paying down debt while simultaneously raising debt doesn’t support Friendlys initial debt numbers. The cleanest comparison you can get is total net income…and the two were very close with Delta barely coming out on top. Interesting enough Q1 of 2025 UA bested DL in total net income.