Sarbanes-Oxley only makes the CFO or CEO sign the audit sheets and makes them liable for anything the accountants drum up. It attempts to promote internal policing. It doesn't force every release to be truthful. It simply allows the feds to put someone behind bars that was at the top if $hit goes south.
Since Ted is part of UAL, Ted does not likely have its own financials. Therefore, UAL can do whatever they want to make flights look profitable or whatever. Load factor, market share, blah blah blah. Let's see the income statement and statement of cash flows and we'll see where the money is. Until you are making money on operations and have a positive net cash flow, all the rest means squat. It doesn't matter if I have a business with 100% market share (monopoly). If I don't turn a profit and create cash, I will go out of business. This release is fluff.
Considering that UAL is currently running on negative equity and has negative working capital (current liabilities exceed current assets by a bunch), they're not doing too hot. $4.2B in unfunded pension alone. When was the last time an airline made $4.2B in a LIFETIME, better yet in a few years? This is going to be their Achilles' heel unless the BK judge allows it to be drastically changed. After that's done, they have to figure out how to make money again. And compete. And manage well. And have good labor relations...Best of luck, I say...
