An article from Forbes suggests that AA has slipped behind UA to the last place spot amongst the US3. According to Forbes, Delta of course remains at the top. Forbes, a respected publication, makes its argument in this article.
In the 1990s, the leading U.S. global airline, by consensus, was American. In the early 2000s it was Continental. Since the bankruptcies early in this century, it has been Delta, the first to complete a merger.
But who is second? Highly regarded airline analyst Jamie Baker of JP Morgan raised the question on American’s July 26th earnings call. The question reflected the dramatic 21% year-to-date gain in United’s share price — while American is down 26%, Delta is down 3% and the S&P 500 Index is up 6%.
“We all remember a time when United couldn't punch its way out of a paper bag, when they were the perennial last-place member of the big three,” Baker said, as he questioned American CEO Doug Parker. “What I'm being asked right now from investors is whether American has now simply stepped into the shoes that United once occupied."
“Maybe that is simply the construct of the industry going forward,” Baker said. “You're going to have one chronic outperformer, let's call that Delta, in fairness. You have the silver medalist, let's call it United, and then inevitably American brings up the rear. So, how do you push back on that?”
https://www.forbes.com/sites/tedreed/20 ... b43c703402