NASSUA- Analysts at Tortola Capital report that UAL Corporation, or better known as United Airlines has proven over 12 comprised Bloomberg analysts’ wrong coming in with a $0.20 a share increase than what was predicted.
The second-quarter results for UAL were posted at $1.95, which compared to last year’s loss is something to cheer about.
The company’s revenue soared 28 percent to $5.16 billion as United raised business and leisure travel fares. Also United and other airlines have not put planes that had been parked due to the recession back on tarmacs which in turn gave them more pricing power as the demand for travel slowly begins to increases.
In a memo to her employees CFO Kathryn Mikells stated that “with this quarter of strong earnings, we have a platform we can build on to get where we need to be, which is long-term sustained profitability.”
After the May agreement to merge, United and Continental together will surpass Delta Airlines Inc. as the world’s largest carrier.
UAL’s stock has risen more than 64 percent this year, and after the merger is completed looks to gain even more.
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