HUGE loss for United

[WatchYourElbows]

Good Job UAL!!!!! Once they stop paying all the bk related costs and paying for all the lawyers, there will be LOTS of $$$ left over.

 

[Dennis Miller]

Good Job UAL!!!!! Once they stop paying all the bk related costs and paying for all the lawyers, there will be LOTS of $$$ left over.

Yea, I bet you will see none of it either. CHAOS is it?, at least the Mechanics at NWA had the balls to take a walk from that sh!t offer from the company, you guys just stood there and accepted it. Kind of like the lady at the beach who told Michael Jackson "could you roll over your in my sun".

 

[klhoard]

. . .<snip> . . Kind of like the lady at the beach who told Michael Jackson "could you roll over your in my sun".

.
.
.
Did you mean to say "son"???
.
.
.

 

[WatchYourElbows]

Yea, I bet you will see none of it either. CHAOS is it?, at least the Mechanics at NWA had the balls to take a walk from that sh!t offer from the company, you guys just stood there and accepted it.

Yes, and we all see how effective it was at NWA. Ever hear the saying, "pick your battles"? This wasn't the battle to choose. Sorry that we didn't go under for you.

WTG UAL!!!

 

[FutureTEDpilot]

Keep your BAD KARMA!

Why some people hate UAL so much is beyond me. Sorry we "didn't" hold the line for you, by the way who do you work for Dennis Miller?

Some of us plan to help rebuild UAL and the Pilot contract, we will talk in 2009 and see who the smart guy is ok?

--Peace out

 

[FutureTEDpilot]

[FONT=Arial,Helvetica,Geneva][SIZE=-1]UAL Loss Widens
Amid Costs Tied
To Restructuring
By ILAN BRAT
Staff Reporter of THE WALL STREET JOURNAL
November 1, 2005

United Airlines's parent, UAL Corp., reported a third-quarter net loss of $1.77 billion, its largest ever quarterly loss, as bankruptcy-related expenses offset its efforts to shift to more profitable routes, cut costs and emerge from Chapter 11 as a more nimble competitor.

The Chicago-based airline, the second-largest U.S. carrier by traffic after AMR Corp.'s American Airlines, said reorganization items reduced its bottom line by $1.84 billion, primarily from noncash expenses on the rejection of aircraft. UAL said it is common for a company to rack up losses associated with its reorganization as it approaches its exit from Chapter 11 of the U.S. Bankruptcy Code, and said it expects a large noncash gain after it emerges from bankruptcy protection, also stemming from accounting factors.

United, which filed for bankruptcy protection in December 2002, hopes to emerge in February as an efficient, competitive airline. In the latest quarter, United said, employee costs declined 21% from a year earlier, and its aircraft obligations fell 35%. However, fuel expenses rose 37% to $1.1 billion, meaning fuel has leapfrogged labor as its largest single expense.

United's results amount to $15.26 a share, compared with a net loss of $274 million, or $2.38 a share, in the year-earlier quarter, which included $115 million in reorganization items.

In the latest quarter, revenue climbed 8.1% to $4.66 billion from $4.31 billion a year earlier.

United has been cutting back on its domestic operations to put greater emphasis on international flights, which are less competitive and which allow airlines to charge higher fares. The company said mainline unit revenue, or the money brought in for each seat flown per mile, jumped 11% to 9.6 cents from 8.6 cents in last year's third quarter. In September alone, United's mainline unit revenue jumped 15% compared with September 2004.

The airline said it reduced the number of aircraft in its fleet by 10% compared with the year-earlier period. Seat capacity declined 5%, while the percentage of seats filled rose to 83.9% from 82.1%. The company expects its fourth-quarter mainline capacity to be down 3% from 2004's fourth quarter.

Glenn Tilton, UAL's chief executive officer, said that the improved results reflected cost controls. "The results we are reporting make it clear that we have done well this quarter in overall cost control, especially given the significant reduction in capacity."

Write to Ilan Brat at [email protected] [/SIZE][/FONT]

 

[G4G5]

Awesome quarter?

United Airlines's parent, UAL Corp., reported a third-quarter net loss of $1.77 billion, its largest ever quarterly loss

United said, employee costs declined 21% from a year earlier.

The airline said it reduced the number of aircraft in its fleet by 10% compared with the year-earlier period.

 

[Metro752]

United posted a 1.77B loss for the quarter. It's not listed in the original post, but they also took a 1.8B non cash aircraft restructuring charge which is apparently normal for a company about to exit CH11.

In reality, they had an operating profit for quarter... I believe it was 165 million.

I think everyone else (those still hurting) should be worried if UAL can break even, or make a small profit with the fuel prices today..

everyone keeps skipping this information, and keeps posting,

OMGodzilla,

1.77
$B$I$L$L$I$O$N$

loss!!!
​

 

[koko nw]

Awesome quarter?

United Airline's parent, UAL Corp., reported a third-quarter net loss of $1.77 billion, its largest ever quarterly loss

United said, employee costs declined 21% from a year earlier.

The airline said it reduced the number of aircraft in its fleet by 10% compared with the year-earlier period.

"Reorganization items were primarily driven by $1.7 billion in non-cash aircraft rejection charges. 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. Looking forward, the company is expected to record a large gain at exit in 2006 when these claims are settled for less than the amounts originally recorded. It is important to note that this is a matter of accurate accounting, and that neither the aircraft rejection charges recorded at this time nor the gain expected to be recorded at exit in 2006 have any significant impact on the company's cash position."


Man you don't let up do you? UAL bashing has become an art form for you.

80% of your posts are anti-UAL, give yourself a break.

UAL has issues, no argument there. Were trying, day in day out we work in an environment where "almost" everybody is against us. From our "fellow" ALPA brethren petitioning there representatives against our PBGC loan request too competetors unwilling to raise ticket prices in the hopes of driving us out of business. Remember we lead or went along with almost all fare raises, and you know who, always tried to ca bash them, playing the who can bleed longest.......Well payback a B*tch isn't it.

Well where still here, trogging away.....

Thanks for your............. support?

 

[G4G5]

"Reorganization items were primarily driven by $1.7 billion in non-cash aircraft rejection charges. 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. Looking forward, the company is expected to record a large gain at exit in 2006 when these claims are settled for less than the amounts originally recorded. It is important to note that this is a matter of accurate accounting, and that neither the aircraft rejection charges recorded at this time nor the gain expected to be recorded at exit in 2006 have any significant impact on the company's cash position."


Man you don't let up do you? UAL bashing has become an art form for you.

80% of your posts are anti-UAL, give yourself a break.

UAL has issues, no argument there. Were trying, day in day out we work in an environment where "almost" everybody is against us. From our "fellow" ALPA brethren petitioning there representatives against our PBGC loan request too competetors unwilling to raise ticket prices in the hopes of driving us out of business. Remember we lead or went along with almost all fare raises, and you know who, always tried to ca bash them, playing the who can bleed longest.......Well payback a B*tch isn't it.

Well where still here, trogging away.....

Thanks for your............. support?

Maybe it's me but with the above report I just don't see how coming out of CH11 in Feb 2006 makes any sense?

If you look at the associated chart that goes along with the above WSJ article (either look in tomorrows paper or get an on line subscription) The loss graph is pretty ugly. The trend defiantly indicates a larger loss for next quarter.

The winter months are traditionally the worst and fuel costs traditionally run the highest. Yet some how coming out in 2/06 makes sense with a business plan that revolves around $50 oil?

I am not down on the UAL employees just the mgt team. Tilton has done very little to impress me, I feel for you folks but bad mgt is still bad mgt.