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Old 10-31-2005, 06:42 AM   #1  
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Default UAL Corp. net loss widens in third quarter

UAL Corp. net loss widens in third quarter
Mon Oct 31, 2005 10:34 AM ET
CHICAGO, Oct 31 (Reuters) - Bankrupt UAL Corp. (UALAQ.OB: Quote, Profile, Research) , parent of United Airlines, on Monday reported a wider quarterly loss as reorganization expenses drove the company deep into the red.
The No. 2 U.S. airline said its net loss amounted to $1.8 billion, or $15.26 per share, compared with $274 million, or $2.38 per share, a year earlier. The company said its operating revenue was $4.66 billion, up from $4.31 billion a year earlier.

How do they keep going?

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Old 10-31-2005, 06:47 AM   #2  
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And just how do they plan to emerge from bankruptcy early next year?
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Old 10-31-2005, 07:15 AM   #3  
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Large charge-offs like this are normal as a company nears bankruptcy exit. Excluding those onerous Chapter 11 costs, United would have been profitable for the quarter.

Excluding the total of $1.8 billion in restructuring costs for the period, UAL said it would have had a net profit of $68 million.
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Old 10-31-2005, 08:27 AM   #4  
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I read their exit strategy was based on $55 per barrel oil...With oil higher than that (even if its higher by a few $$$s) they or any other company teetering on the verge is going to have a hell of a time...

IMHO - legacy carriers should restrict their flying to long-haul international routes bring back the around the world routes w/ luxury class / service and leave the domestic market to regionals and LCC.

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