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UAL reports 2Q loss of $2.73 billion :: CHICAGO SUN-TIMES :: Earnings
Summary from multiple countries, from articles in English
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United Airlines shares zoomed up 45 per cent Tuesday after the carrier announced plans for a major cash infusion, a smaller-than-expected quarterly loss, and reductions in flying and jobs intended to help fight high fuel prices. (article 3)
United's loss included an accounting charge of $2.3 billion, and Chief Executive Glenn Tilton blamed the "unrelenting price of oil" for the weaker profit picture despite a 3 percent increase in revenue. (article 9)
Revenue rose 3 percent, but CEO Doug Parker also pointed to soaring fuel costs for most of his company's financial woes. (article 9)
The carrier said its second-quarter net loss amounted to $567 million, or $6.16 per share, compared with a profit of $263 million, or $2.77 per share, a year earlier. (article 2)
The job cuts as well as a new target for capacity reductions are consistent with a trend among U.S. airlines to shrink their businesses in hopes of offsetting their fuel bills. (article 1)
United Airlines and US Airways today joined a growing list of airlines whose financial reports reflect the furious struggle to pay for fuel. (article 7)
Airline stocks, which have been at historic lows for many carriers, shot up as oil prices dropped more than $4 a barrel at one point in Nymex trading. (article 8)
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Source articles
- UAL posts loss on fuel, ramps up downsizing effort (Washington Post, 07/22/2008, 327 words)
- US Airways posts quarterly loss on high fuel bill (Washington Post, 07/22/2008, 267 words)
- United Airlines parent UAL gets cash infusion despite loss of $2.73B US (cbc.ca, 07/22/2008, 521 words)
- UAL reports 2Q loss of $2.73 billion :: CHICAGO SUN-TIMES :: Earnings (suntimes.com, 07/22/2008, 311 words)
- UAL reports 2Q loss of $2.73 billion (Washington Post, 07/22/2008, 367 words)
- Remarks to Employees by United’s Chief (nytimes.com, 07/23/2008, 714 words)
- ABC News: More Turbulence for United, US Airways (ABCNews, 07/22/2008, 346 words)
- Airlines think cutbacks could bring back profits (Washington Post, 07/22/2008, 444 words)
- UAL reports loss of $2.73 billion (L.A. Times, 07/22/2008, 258 words)
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blaster@cs.columbia.edu
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