Other majors have predicted huge losses for the fourth quarter - UAL is on track for a small-medium net loss (excluding reorg and special items) for the fourth quarter:
http://biz.yahoo.com/prnews/051221/cgw013.html?.v=36
Pretty good results considering the fuel costs.
If UAL can contain the number of meltdowns (ala ORD last weekend), it has a fighting chance.
October's net loss (excluding reorg and special items) was $114 million:
http://biz.yahoo.com/prnews/051123/cgw024.html?.v=33
With December fuel prices way down over October and November levels, and the heavy holiday travel season, December's results should come in much better than the previous two months.
UAL Reports November Results
Wednesday December 21, 11:42 am ET
Operating Earnings of $9 Million, a $197 Million Improvement Year-Over-Year Despite a $124 Million Increase in Fuel Expenses due to Higher Fuel Prices
Mainline CASM Down 1 Percent on 3 Percent Lower Capacity Year-Over-Year Excluding Fuel, Mainline CASM Down 15 Percent
Mainline PRASM Up 15 Percent Year-Over-Year
CHICAGO, Dec. 21 /PRNewswire-FirstCall/ -- UAL Corporation (OTC Bulletin Board: UALAQ - News), the holding company whose primary subsidiary is United Airlines, today filed its November Monthly Operating Report with the United States Bankruptcy Court. The company reported operating earnings of $9 million for November 2005 (filing entities only), an improvement of $197 million over the same period last year, despite higher fuel prices resulting in $124 million increase in fuel costs year over year for mainline and United Express operations. In November 2004, the company reported an operating loss of $188 million. For November 2005, the company reported a net loss of $187 million, including $159 million of largely non-cash reorganization expenses driven by aircraft-related transactions. Excluding reorganization expenses, the company reported a net loss of $28 million.
As previously disclosed, the company will continue to record large non- cash reorganization items as it moves towards exit. It is common for the results of operations of companies progressing through Chapter 11 to be impacted by non-cash charges related to their reorganization, especially as restructuring work nears completion. Charges based on the claims of our creditors are recorded at the amount expected to be allowed by the court. However, as shown in our Plan of Reorganization, these claims are expected to be settled at exit for a minor fraction of the amount of the charges recorded.
http://biz.yahoo.com/prnews/051221/cgw013.html?.v=36
Pretty good results considering the fuel costs.
If UAL can contain the number of meltdowns (ala ORD last weekend), it has a fighting chance.
October's net loss (excluding reorg and special items) was $114 million:
http://biz.yahoo.com/prnews/051123/cgw024.html?.v=33
With December fuel prices way down over October and November levels, and the heavy holiday travel season, December's results should come in much better than the previous two months.