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Thread: UAL - $2.1 billion loss on coronavirus hit

  1. #1

    Default UAL - $2.1 billion loss on coronavirus hit

    Don't forget, this wasn't even a full quarter impacted by the virus.


    United Airlines posts $2.1 billion loss on coronavirus hit, seeks more federal aid

    United posted a preliminary $2.1 billion loss for the first quarter.

    Coronavirus has presented airlines with their biggest-ever crisis.


    United says it applied for up government loans of up to $4.5 billion, on top of federal payroll aid it expects to receive.
    https://www.cnbc.com/2020/04/20/unit...deral-aid.html
    Tom
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  3. #2

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    Default Re: UAL - $2.1 billion loss on coronavirus hit

    What happened to the millions in profits they have gotten over the years?
    Maybe the CEO should take a pay cut.
    You think the airlines nickel and dimed us before, wait until we start flying again.
    May the force be with us.

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  5. #3

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    Default Re: UAL - $2.1 billion loss on coronavirus hit

    Quote Originally Posted by nasa1974 View Post
    What happened to the millions in profits they have gotten over the years?
    They, just like many other large corporations, used the money to buy back their own stock, artificially boosting the stock price, so the CEO could get his bonus at the end of each quarter for the improved stock price.

    Works just great - until a downturn in the market means you lose the entire company because you didn't keep any cash on hand for a rainy day.

    Don't worry- the US taxpayer will always be there to bail you out. Right?

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