(I did a search and didn't find anything, so, as I am sure some of you will do, let me know if this is already being discussed.)
June 24, 2004
Operating Profit of $9 Million, Improvement of $164 Million Over May 2003
Company Continues to Meet DIP Covenants
CHICAGO, June 24, 2004 – UAL Corporation (OTCBB: UALAQ.OB), the holding company whose primary subsidiary is United Airlines, today filed its May Monthly Operating Report (MOR) with the United States Bankruptcy Court. The company reported earnings from operations of $9 million, which represents an improvement of approximately $164 million over May 2003. Mainline passenger unit revenue improved 7% year-over-year. Unit costs were down 15% over last year. The company reported a net loss of $93 million, including $58 million in reorganization expenses, which include non-cash items resulting from the rejection of aircraft as the company aligns its fleet with the market. UAL met the requirements of its debtor-in-possession (DIP) financing
Good news for UA
the money situation is defenately getting better. What do you all think?