The Bleeding Continues: UAL Posts Big Q4 Loss | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.06.24

Airborne-NextGen-05.07.24

Airborne-Unlimited-05.08.24 Airborne-FlightTraining-05.09.24

Airborne-Unlimited-05.10.24

Thu, Jan 22, 2009

The Bleeding Continues: UAL Posts Big Q4 Loss

Embattled Airline Expects 1,000 More Job Cuts

United Airlines says its attempt to hedge fuel more aggressively in 2008 turned out to be a bad bet. UAL Corporation reports that $370 million in cash losses on fuel contracts and another $566 million non-cash charge to adjust contracts to current market values drove a fourth-quarter loss totalling $1.3 billion dollars.

Ticket sales were reported down 9.6 percent for the quarter.

United now says it will increase the number of planned job cuts by about 1,000, raising the total to 9,000 by the end of this year. But capacity cuts, slated to be chopped 11 percent in 2009, will now be cut only 9.5 percent.

Chief Operating Officer John Tague tells Bloomberg that United has seen demand drop, with customers "...not only traveling less, but buying down from premium cabins to coach cabins. We are seeing double-digit declines in international premium traffic."

UAL stock fell from a high near $12.50 on Tuesday to below $10, but rebounded Thursday to close at $11.45.

FMI: www.united.com

Advertisement

More News

Airborne-Flight Training 05.09.24: ERAU at AIAA, LIFT Diamond Buy, Epic A&P

Also: Vertical Flight Society, NBAA Maintenance Conference, GA Honored, AMT Scholarship For the first time, students from Embry-Riddle’s Daytona Beach, Florida, campus took t>[...]

ANN's Daily Aero-Term (05.07.24): Hazardous Weather Information

Hazardous Weather Information Summary of significant meteorological information (SIGMET/WS), convective significant meteorological information (convective SIGMET/WST), urgent pilot>[...]

Aero-News: Quote of the Day (05.07.24)

"The need for innovation at speed and scale is greater than ever. The X-62A VISTA is a crucial platform in our efforts to develop, test and integrate AI, as well as to establish AI>[...]

NTSB Final Report: Cessna 150

(FAA) Inspector Observed That Both Fuel Tanks Were Intact And That Only A Minimal Amount Of Fuel Remained In Each Analysis: According to the pilot, approximately 8 miles from the d>[...]

Aero-News: Quote of the Day (05.08.24)

“Pyka’s Pelican Cargo is unlike any other UAS solution on the market for contested logistics. We assessed a number of leading capabilities and concluded that the Pelica>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC