Why Shares of United Airlines Are Up Today
United Airlines Holdings (NASDAQ: UAL) late last week delivered quarterly earnings loaded with near-term pain, with a sprinkle of long-term optimism thrown in. Investors initially focused on the near-term issues, sending shares down on Friday, but on Monday, United shares climbed 5% as the markets digested the airline's outlook.
United lost more than $8 per share in the third quarter, bleeding through about $25 million per day as the coronavirus pandemic continues to take a toll on the industry. Airlines still have "12 to 15 months of pain, sacrifice, and difficulty ahead," CEO Scott Kirby said on a post-earnings call with investors.
The company and other airlines are laying off tens of thousands of workers, and United is worried that business travel will not recover to pre-pandemic levels until 2024.
Source Fool.com
