30.10 +0.19 (0.64%)
After hours: 7:59PM EDT
|Bid||29.91 x 3100|
|Ask||29.90 x 1100|
|Day's range||29.32 - 30.92|
|52-week range||17.80 - 96.03|
|Beta (5Y monthly)||1.49|
|PE ratio (TTM)||7.53|
|Earnings date||14 Jul 2020 - 20 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||07 Jan 2008|
|1y target est||36.29|
United Airlines (UAL) closed the most recent trading day at $29.91, moving +1.53% from the previous trading session.
Delta (DAL) carries out a reshuffling process to align its staff size to future flying plans. To prevent furloughs in this regard, the carrier is working with the pilots' union.
United Airlines'(UAL) job cuts are part of its cost-cutting measures. The carrier had earlier warned of a 30% reduction in its administrative staff.
Chicago-based United said it is increasing trans-Atlantic service from Washington, D.C. and San Francisco to cities across Europe in July thanks to a modest rise in demand, and re-starting service to Tokyo-Haneda, Hong Kong, Singapore and Seoul.
Major U.S. airlines are cutting worker hours and encouraging employees to take voluntary leave or early retirement.
After a brief rally earlier in the week on hopes of an improving economy, airline shares are in the red once again on Thursday. Shares of American Airlines Group (NASDAQ: AAL) were down 6.6% as of 2:30 p.m. EDT and shares of United Airlines Holdings (NASDAQ: UAL) were down 4.4%. Delta Air Lines (NYSE: DAL), which earlier in the day was down 5.2%, had recovered some of that loss, but were still down on a day when broader markets are up.
With stay-at-home orders easing across the United States, airlines have pointed to slight improvements in air travel demand that had virtually disappeared in April. "Demand could be down 30% or it could be down 70%," Kirby said. Under the changes, Jon Roitman, currently United's senior vice president of airport and network operations, will replace Greg Hart as chief operations officer effective June 1.
Airlines' improved cash flow and cost-control measures helped them with enough capital to tide over the crisis, and now with improved traffic, things are certainly looking up for airliners.
Tuesday morning brought a big upward move to the stock market, largely in response to growing optimism about the reopening of the U.S. economy as fears about the coronavirus pandemic seem to be subsiding. The Nasdaq Composite (NASDAQINDEX: ^IXIC) lagged somewhat behind broader market benchmarks, but it was still up 0.7% shortly before noon EDT. The Nasdaq 100 Index of larger Nasdaq-listed stocks was up a more modest 0.4%.
Several airline stocks posted spectacular gains last week, but despite some positive data points, investors shouldn't expect a quick recovery in air travel demand.
JetBlue Airways on Thursday defended itself against accusations from a group of Democratic senators who called out the air carrier out for cutting wages and hours.
Aurora Cannabis (NYSE: ACB) has been in the news a lot lately, and it made a strategic move that caused its stock to soar Thursday. Meanwhile, United Airlines Holdings (NASDAQ: UAL) continued to gain altitude as carriers aim to find a pathway toward getting passengers back into the skies. Shares of Aurora Cannabis jumped 26% on Thursday morning.
The summer travel season is a big revenue generator for U.S. airlines but the coronavirus threatens the carriers and risk assessment firm RapidRatings warns American Airlines is the most at risk of going bankrupt.
Shares of United Airlines Holdings (NASDAQ: UAL) climbed more than 5% on Wednesday after the airline outlined enhanced safety guidelines in an effort to get travelers flying again. The initiative comes a day after United and other airlines said they are seeing signs that consumers are once again beginning to think about travel. Airlines including United have been hit hard by the COVID-19 pandemic, with United seeing gross bookings fall 95% year over year in April.
U.S. states are starting to reopen and airlines expect an increase in domestic travel over the extended holiday weekend for Memorial Day on Monday. While data shows only a small fraction of recent flights were more than 70% full, there may soon be full or near-full planes, said Airlines for America, a trade group representing major U.S. airlines. Major airlines have mandated face coverings for travelers and are taking a layered approach to safety.
Economies are finally reopening and flyers are getting back confidence with slower ticket cancellations and an uptick in demand for tickets.
United Airlines Holdings (NASDAQ: UAL) in June has work for only about 3,000 of its 25,000 flight attendants in June, according to reports, highlighting how deep cuts to the airline's schedule have been and just how unsustainable current airline business practices are. Airlines have been hit hard by the COVID-19 pandemic, which has caused travel demand to evaporate. The industry, United included, has responded by cutting flights and grounding planes, but, as a condition of the $50 billion government bailout package, airlines are prohibited from furloughing or laying off workers.
United is paying flight attendants until Sept. 30 thanks largely to $5 billion the airline is receiving in government payroll aid under the CARES Act, which prohibits any job or pay cuts for employees before October. Chicago-based United and other airlines have begun to share more details with employees about the scale of their dilemma in trying to match crews and fleets to an uncertain recovery from the economic crisis sparked by the new coronavirus pandemic, which has sent the global economy into a tailspin. United's flying schedule is down by about 90%.