Chillin' out till it needs to be funded
Regular followers would have noted our commentary on the futile nature of business in Airlines and Telecom industries with lower consumer realizations and a long strecth of existence in the oughts unmarred by any meaningful profit. United thankfully stepped in after a tumultous 10 years in back to back restructurings, its last profits in 2007 finally overtaken by a great $1.95 per share in earnings in the June quarter riding 28% growth in revenue per passanger mile, growth being 52% and 60% in Pacific and Latin America. Its merger deal with American could have really given it wings this year. The behemoth managed to contain cost inflation to 1.9% and expects a 3.3 to 4.4 inflation in the September quarter.
Thanks to Marketwatch for the detailed earnings reports as always.
Also China’s becoming the bigger energy consumer and finally entering a bullish stock market cycle does means positive things coming back for the Dow but this earnings season is consigned to being a tale of missed toplines and jettisoning more of the recession baggage