Missed Dip Covanants

hmflyer said:
According to Standard and Poor's, United had an operating loss of $120m for September. This is only going to get worse later in the year. UAL is far from out of the woods as their main plan seems to be getting an ATSB loan. I hope they have a Plan B.
S&P did a quick and VERY dirty analysis to come to those numbers. they simply took operating profit from august and july, subtracted them from the quarterly number and came up with a loss of 121 million for the quarter. VERY SLOPPY. The quarterly operating profit included 71 million in "special charges". so the "real" operating loss for the month of september was apprx 50 million. Admittedly less than perfect, but EBIDTAR positive (by at least 100 million) and a low side guage to what we can expect for oct-dec.