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UAL made $944M today
Looks like UCAL made $944 million today. Perhaps they could make an actual offer on a contract now.
For United, the world's largest airline since it merged with Continental Airlines, a $1 increase in the price of a barrel of oil means spending an extra $100 million a year on jet fuel, Marren said.
Airline fortunes fall as crude price rises - San Antonio Express-News NEW YORK (CNNMoney) -- Oil prices plunged more than 8% Thursday as weak economic data and a strengthening dollar drove crude to its biggest one-day drop since April 2009. The main U.S. oil contract for June delivery settled down $9.44, or 8.6%, to $99.80 a barrel. That's its lowest level since mid-March and marks its biggest one-day percentage drop in two years. |
Notice how they post everyday oil goes up, but never when it goes down. "Sorry, we can't afford to pay you, but I'm giving myself another raise." -Jeff.
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Originally Posted by Ottopilot
(Post 989564)
Notice how they post everyday oil goes up, but never when it goes down. "Sorry, we can't afford to pay you, but I'm giving myself another raise." -Jeff.
Oil price has biggest one-day drop in more than two years The price of oil had its biggest one-day percentage drop in more than two years on Thursday, The Wall Street Journal and numerous media outlets reported. Crude oil dropped nearly $10 to below $100, and numerous analysts and media outlets cited weak economic data from the United States and Europe, which have battered commodities markets all week. After driving commodity prices higher for much of 2011 amid worries about supply shortages, investors now fear that high prices will lower consumption, according to the Journal. It noted that central banks around the world are raising interest rates and ending programs designed to speed up the economic recovery and also said that some policy makers are worried that high food and energy costs will threaten continued growth. Despite those fears, the article said, commodity prices remain well above levels seen last year, and oil prices could still rise should unrest in the Middle East further disrupt production |
By your logic, United lost $2.5 BILLION dollars this year. We better be gearing up for pay cuts.....:rolleyes:
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Originally Posted by iahflyr
(Post 990418)
By your logic, United lost $2.5 BILLION dollars this year. We better be gearing up for pay cuts.....:rolleyes:
Their point is that there's nothing left for labor because of the price of oil. I hope the MEC and NC won't fall for these kinds of absurd false financial statements this time around. If they're going to declare BK because of our contract then great, just sign the contract and pay me a decent wage until they get around to filing for BK. At least I'll be able to say I worked under a decent contract for a couple of months of my career. |
Originally Posted by APC225
(Post 989563)
Looks like UCAL made $944 million today. Perhaps they could make an actual offer on a contract now.
United in the past had an inept fuel hedging strategy; whoever hedged for Continental was better but it's been quite a few quarters since I analyzed any airline 10Q/10Ks. In order for an airline to get the proper talent to effectively hedge, they really need to offer a minimum of high six figure salaries. Airlines don't pay that well so anyone who's talented is usually hired away by large hedge funds. Starting salaries/bonus of junior traders is several times higher than what airlines pay for equivalent work. |
I guess someone got their wish and started a new career field in the airline industry--Fuel Hedger.
This would all be so unnecessary if speculators had to take delivery of the oil the purchase. Talk about a ponzi scheme. |
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