After a day to lick my wounds and recover from stress levels not recorded in recent history — it’s time to get back to work. Well, that’s not totally true. I was back to work yesterday, just not here.
Looking over the airline landscape today, a couple of things of note. One, United Airlines reported earnings this morning. I’m off to listen to their call when I get done here, but the long and the short of it is this — the airline did not do as well as had been expected. Even considering their December Denver Dilemmas. As a result, shares here are under a lot of pressure today. Last time I checked, they were down 8% to 44.86.
Figures. I just put them in our first quarter basket of stock picks last week. Thanks guys.
That’s okay. The pick was not based on fundamental reasons anyway.
How’s that for an excuse? Weird, but true.
The airline said today that it lost $61 million, or $0.55 cents per share, compared with $16.9 billion, or $145.47 per share, a year earlier, while the company was still in bankruptcy. (This comparison is not really very relevant, given all the reorganization charges included in that loss for the fourth quarter last year.) But what is relevant is the airline had been expected to only lose $0.42 a share.
In other news — not sure if the hearings are going to be on C-Span or not (their online scheduling calendar is not working at the moment — at least not for tomorrow’s events), but tomorrow, hearings will be held on Capitol Hill by the U.S. Senate Commerce Committee — as they take a look at airline consolidation.
For those of you who are located in the Big Apple — here’s a nice way to spend your lunch hour tomorrow. Go to a book signing.
John Newhouse, author of the new book “Boeing versus Airbus: The Inside Story of the Greatest International Competition in Business,” will speak tomorrow at noon at the 92nd St. Y’s Makor-Steinhardt Center. That is located at 35W. 67th St.) Tickets for the event are $16. Copies of the book will also be available for purchase and John will be happy to sign your book, or answer your questions.
For more info, you can click here.