UAL Borrows $2 Billion
 

Kirby talked about this in the call the other day.

... and with this new facility, they now have 8 billion in liquidity and 20 billion in unencumbered assets. Someone correct me if I’m wrong, but I believe this is stronger than any other airline at this point.

I don't know anything about financials, but based on the size of Delta's profit sharing checks vs United's, I find it hard to believe that United is better off financially than Delta. It seems we're about to find out.

Maybe our guys were better at hiding the money than yours.

Doubt it.....SK is definitely “B Team”

profit sharing checks have nothing to do with liquidity. UAL has about 8 Billion on tap, the most of the Big three. DAL about 5 Billion albeit less debt

”better off financially” can be defined many ways. In terms of ability to weather this storm with the least amount of financial stress, I would think liquidity and unencumbered assets would be very important. I found a mainstream news source last night (can’t remember which one) that reported Delta has ~5.1b liquidity and 20b unencumbered assets, American with similar liquidity but about half the unencumbered assets, and United 8b liquidity and 20b unencumbered assets. It would be interesting to review a complete analysis of all the airlines including the ULCCs.

companies go bankrupt because they cannot pay their bills or make payroll. It’s about cash flow and liquidity.

debt doesn’t matter unless it is due.

What's an example of an unencumbered asset?

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