UAL Q3 earnings
10-14-2020 | 01:18 PM
#1
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Gets Weekends Off
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UAL Q3 earnings
No surprises. Better than DAL, but we’ve got a long way to go as an industry. 1.8B net loss. 2.49B in revenue vs 11.38B yoy (down 78%)
https://www.cnbc.com/2020/10/14/unit...s-q3-2020.html
https://www.cnbc.com/2020/10/14/unit...s-q3-2020.html
10-14-2020 | 01:50 PM
#2
Gets Weekends Off
Joined: Aug 2015
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From: Captain
No surprises. Better than DAL, but we’ve got a long way to go as an industry. 1.8B net loss. 2.49B in revenue vs 11.38B yoy (down 78%)
https://www.cnbc.com/2020/10/14/unit...s-q3-2020.html
https://www.cnbc.com/2020/10/14/unit...s-q3-2020.html
a cargo subsidiary is a must I would say. Either convert or buy new ones at cheap price
10-14-2020 | 02:17 PM
#5
Gets Weekends Off
Joined: Feb 2006
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From: B737 CAPT IAH
No surprises. Better than DAL, but we’ve got a long way to go as an industry. 1.8B net loss. 2.49B in revenue vs 11.38B yoy (down 78%)
https://www.cnbc.com/2020/10/14/unit...s-q3-2020.html
https://www.cnbc.com/2020/10/14/unit...s-q3-2020.html
From the SEC 8K
Pillar 2 – Minimizing Cash Burn
• Reduced total operating costs by 59 percent versus the third quarter of 2019. Excluding special charges , reduced
operating costs by 48 percent versus the third quarter of 2019.
• Achieved target average daily cash burn during the third quarter of $21 million plus $4 million of average debt principalpayments and severance payments per day, compared to second-quarter average daily cash burn of $37 million plus $3 million of debt principal payments and severance payments per day.
Pillar 3 – Variabilizing Cost Structure
- Reduced non-labor operating expenses, excluding special charges and depreciation, by 63 percent in the third quarter, against a capacity reduction of 70 percent.
- Restructured and significantly reduced our management and administrative functions. These reductions are expected to be largely permanent, even as demand recovers.
- Reached a landmark agreement with its pilot group that avoids furloughs by securing flexibility in work hours while also reaching agreements to provide a path to early retirement and reduce expense through voluntary leave of absence programs. These agreements position the company to rebound quickly when demand returns.
10-14-2020 | 02:23 PM
#6
Squawking 2000
Joined: Jul 2015
Posts: 737
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From: Skeptical
I’ve been flying cargo almost every day available for the last six months in a 777. At this point I think I can qualify for Guam residency.
It’s a rare (and weird) occurrence to fly with PAX or FAs aboard.
It’s a rare (and weird) occurrence to fly with PAX or FAs aboard.
10-14-2020 | 02:31 PM
#7
Line Holder
Joined: Dec 2015
Posts: 926
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From: B777 CA
For the most part have been flying all 300’s on cargo (have been since Spring). In Sept and Oct brought back a total of 10 200’s back to the line. Talk of more in Nov. Recently resolved a CG issue now allowing the 200’s to carry the same number of pallets as a 787 on cargo flights.
The majority of all 777 flying has been cargo. Especially now since the 787 flying is maxed out.
The majority of all 777 flying has been cargo. Especially now since the 787 flying is maxed out.
10-14-2020 | 02:39 PM
#8
Gets Weekends Off
Joined: May 2006
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From: WB Bunkie
For the most part have been flying all 300’s on cargo (have been since Spring). In Sept and Oct brought back a total of 10 200’s back to the line. Talk of more in Nov. Recently resolved a CG issue now allowing the 200’s to carry the same number of pallets as a 787 on cargo
flights.
The majority of all 777 flying has been cargo. Especially now since the 787 flying is maxed out.
flights.
The majority of all 777 flying has been cargo. Especially now since the 787 flying is maxed out.
10-14-2020 | 02:39 PM
#9
Gets Weekends Off
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The one big reason cargo is worth $$$ is the lack of global passenger operations and the loss of all that belly cargo capacity. Once global pax flights begin to return to normalcy there won't be the current revenue premium for cargo.
In the interim, UAL is absolutely doing cargo better than most other pax airlines.
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