United Airlines : UA : UAL

Rapport au 30 juin 2009 : - US$ 323 millions deuxième trimestre.

Le cash dispo a fondu, les fuel hedges n'ont pas aidés ( couvertures financières pétrole )

Le détail sur Air Transport News :

UAL Corporation, the holding company whose primary subsidiary is United Airlines, reported results for the second quarter ended June 30, 2009. The company:

-- Reported a second quarter net loss of $323 million or $2.23 per basic share excluding non-cash, net mark-to-market hedge gains and certain accounting charges outlined in note 6 of the attached statement of consolidated operations. The company reported a GAAP net profit of $28 million or $0.19 per diluted share, including these items.

-- Reported a year-over-year 17.2% decline in second quarter consolidated passenger unit revenue per available seat mile (PRASM).

-- Continued to control costs with mainline non-fuel unit cost per available seat mile (CASM) for the quarter down 1.2% year-over-year, excluding certain accounting charges and despite a reduction in mainline capacity of 10.8% year-over-year. Mainline CASM, including fuel and excluding non-cash, net mark-to-market fuel hedge gains, impairments and certain accounting charges, was down 20.4% year-over-year. GAAP mainline CASM, including these items, was down 50.2%.

-- Improved its full year outlook for mainline non-fuel CASM, excluding profit sharing and certain accounting charges, to down 0.5% to up 0.5% year-over-year. This reflects a $150 million increase in full year savings, bringing the full year cost reduction to $300 million compared to the company's initial 2009 non-fuel CASM outlook provided on Jan. 21, 2009. The company also reduced planned capital expenditures to $300 million, a reduction of $150 million from the $450 million the company originally planned for 2009.

-- Announced an additional international capacity reduction of 7% for the last four months of 2009.

-- Closed the quarter with total cash of $2.8 billion, unrestricted cash of $2.6 billion, and restricted cash of $281 million. In addition, fuel hedge collateral was $185 million.

-- Raised approximately $155 million in additional cash early in the third quarter through a spare parts financing transaction.

-- Ranked No. 1 year-to-date through May in on-time performance among the five major U.S. network carriers. To date, the company has paid $430 per person in on-time incentive payments to each of more than 40,000 front-line employees, or more than $18 million in total, under its new on-time incentive program.

-- Received approval from the U.S. Department of Transportation (DOT) for Continental Airlines to join the existing antitrust-immunized alliance including United and eight other Star Alliance member carriers.

"This is a resilient industry, and we are a resilient company," said Glenn Tilton, UAL Corporation chairman, president and CEO. "While there is much outside our control - including the state of the economy and the price of oil - we are
focused and executing against those things we can control. We're running a good airline, with industry-leading cost control and best-in-class operational performance."

Weak Global Economy Continues To Affect Revenues

For the quarter, consolidated PRASM declined 17.2%, consolidated yield declined 16.8% and consolidated load factor declined 0.4 points year-over-year. Growth in certain ancillary revenues, including bag fees and ticket change fees, improved consolidated PRASM by 1.5 percentage points year-over-year.

Cargo revenue for the quarter decreased 49% year-over-year as a result of lower demand, softer yields, lower fuel surcharges and reduced international capacity. United's significant presence in the Pacific export markets, which have been particularly impacted by the weakness in the global economy, continues to disproportionately affect its cargo revenue.

Continued Strong Cost Performance

Total consolidated expense, including fuel, was down more than $1.5 billion year-over-year in the second quarter, excluding non-cash, net mark-to-market hedge gains, impairment charges and certain accounting charges. Consolidated expense, excluding fuel, impairments and certain accounting charges, was down $288 million or 8.9%, as
the company continued its efforts to successfully reduce costs as capacity declined. Total GAAP consolidated expense including these items was down $4.2 billion for the quarter, reflecting lower fuel costs, decreased capacity and impairment charges that were recorded last year.

Mainline CASM, excluding fuel and certain accounting charges, decreased 1.2% in the second quarter, despite a 10.8% decline in mainline capacity. This CASM reduction is about 1.5 percentage points better than the guidance provided by the company in June. Since January, the company has reduced its projected full year mainline
non-fuel costs by about $300 million.

Consolidated CASM, excluding fuel and certain accounting charges, increased only 0.1%, despite a 9.0% decline in consolidated capacity. GAAP mainline and consolidated CASM, including these items, were down 50.2% and 46.7% respectively, compared to the year-ago quarter, reflecting the impact of lower fuel prices and impairment charges that were recorded last year.

Fuel Hedge Collateral Returns Offset Cash Hedge Losses

The company recorded $252 million in cash losses on fuel hedges that settled in the quarter. In addition, the company also recorded non-cash, net mark-to-market gains on its fuel hedges of $440 million. The cash losses on the contracts that settled during the quarter were offset by $385 million in cash collateral that was returned during the quarter. The table below details hedge impacts for the quarter:

The company continues to systematically add to its fuel hedge portfolio using call options and swaps on crude oil, heating oil and jet fuel. For the second half of 2009, the company has hedged 64% of its estimated consolidated fuel requirements. Of this 64%, approximately 48% is hedged using call and swap options at a crude equivalent cap of $65 per barrel. The remaining 16% uses a variety of hedge structures (Collars, 3-way collars and 4-way collars) entered into last year. For 2010, the company has hedged 11% of its estimated consolidated fuel requirements using call options at an average crude equivalent price of $73 per barrel and swaps at an average crude equivalent price of $75 per barrel.

United Improves Liquidity

The company ended the quarter with a total cash balance of $2.8 billion, an unrestricted cash balance of $2.6 billion and restricted cash of $281 million. The company also had $185 million in cash deposits held by its fuel hedge counterparties.

During the second quarter, the company generated $396 million of positive operating cash flow and $305 million of positive free cash flow, defined as operating cash flow less capital expenditures. The company had scheduled debt and net capital lease payments of $212 million during the quarter and non-aircraft capital expenditures of $91 million.

"We are taking aggressive actions to position United for recovery, including reducing our international capacity by an additional 7 percent later this year, implementing industry-leading unit cost reductions, and bolstering our liquidity," said Kathryn Mikells, United senior vice president and chief financial officer.
"We have more than $1 billion in unencumbered assets, and a proven track record of being able to leveraging those assets to raise capital."

No. 1 Year-to-Date May On-Time Performance Ranking - Customer Satisfaction Improves

United ranked first among the five U.S. network carriers in year-to-date May 2009 on-time performance. According to DOT statistics, 80% of United flights arrived within 14 minutes of their scheduled arrival time, representing a considerable improvement from last year.

The company also continues to improve its key customer satisfaction measure among its best customers, with a significant improvement for the third consecutive quarter. Improvements were achieved across the travel experience, including aircraft cleanliness, seat and entertainment product workability, and employee courtesy.

Business Highlights

-- United completed conversion of all of its B767s to its new international premium class configuration. United has also completed converting 18 of 24 aircraft in its B747 fleet, with the remaining B747s scheduled to be completed by October 2009. The company will begin the conversion of its B777s in February 2010.

-- United is rolling out Premier Line at 50 additional airport locations. Premier Line offers customers the ability to purchase priority access to specifically reserved lines at check-in, security (where available) and boarding.

2009 Outlook

In an effort to better match supply with demand, the company will further reduce international capacity by 7% in the last four months of 2009. Despite these capacity reductions, the company expects mainline CASM, excluding fuel, profit sharing and certain accounting charges, for the full year 2009 to be down 0.5% to up 0.5% year-over-year, an improvement of $150 million compared to the company's April guidance, and a full $300 million compared to the company's January guidance.

The company expects scheduled debt and capital lease payments of $460 million for the remainder of 2009. Complete details on United's outlook can be found in the Investor Update, available at united.com/ir.

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Merci Gibbs ! :lol:

Voici la flotte de UAL telle que présentée sur Wikip, en. :

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UAL, toujours en besoin de liquidités pour équilibrer ses comptes

Les derniers résultats ne sont pas mauvais.

Le COO s'adresse au personnel, propos repris sur etravelblackboard :

Friday, September 11, 2009

In an internal briefing this week the United Airlines COO said the carrier was still concentrating on building cash balances and liquidity in order to operate the business, while debt repayment stayed at the front of mind.

Speaking to employees last week, John Tague, United Airlines Executive Vice President and COO told staff that the airline is continuing to build its cash balances.

“We are building cash balances and liquidity to operate our business, while continuing to pay down debt and invest in the airline, particularly where we can improve the customer experience,” said Mr Tague.

United added in a statement that the carrier was facing “low fixed obligations relative to our major competitors” and that “ongoing work” was taking place in relation to raising cash.

In the last quarter, United Airlines surprised the market by reporting a US$28 million profit, swinging dramatically into the black from the US$2.74 billion loss reported in the corresponding April to July quarter of 2008.

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Pour se faire une idée très proche de la réalité, voici les tableaux de composition de la flotte de United

T 1 :

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T 2 :

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T 3 :

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T 4 :

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T 5 :

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T 6 :

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T 7 :

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T 8 :

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T 9 :

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& finalement :

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Dernier vol d'un 737 chez UAL le 28 octobre. Encore une page qui se tourne !!!

United Airlines will retire the last Boeing 737 jet from its fleet on Oct. 28. In a message issued to employees this morning, United says its "last Boeing 737 -- the beloved 'guppy' that served our airline and millions of customers well for more than 41 years -- will retire from revenue service at the end of October, in line with the fleet retirement plans announced in the fall of 2008."
United's final 737 flight will be on a 737-322 designated as United Flight 737. Its last day of service will begin with an early morning flight from Washington Dulles, with stops at Chicago O'Hare, Denver and Los Angeles before going on to San Francisco, where the airline will perform decommissioning work on the jet at its San Francisco maintenance base. Then, the jet will be transported to an airliner storage yard in Victorville, Calif.
The company also indicated that there could be some fanfare for its 737 sendoff. "Given that literally thousands of United's employees have touched these aircraft over the years, both above and below the wing, plans are being made for teams at each of the hubs to commemorate the event during the respective ground service times," United's memo reads. "Many of our customers, particularly those who are aviation enthusiasts and engage in the numerous online communities, are expected to fly on one or more of the segments, and special announcements and other activities are being planned for on board."
United called the retirement of its 737s "an important step forward," saying the "decision to retire all 94 of the B737s enabled (it) to take important proactive steps in reducing capacity at a time when fuel costs had hit record-high levels." United adds that the phaseout of the 737s – along with the retirement of six older Boeing 747 jets – has positioned it "at the forefront of the industry in adjusting capacity to help increase pricing power."
The carrier notes that the retirement of the 737s also will simplify its fleet, adding that the 737s had also been receiving the lowest customer satisfaction ratings among its narrowbody fleet. Going forward, United says current discussions with jetmakers Airbus and Boeing on replacing its Boeing 757 and widebody aircraft "is the next step leading to a more effective and efficient operating fleet for United in the years ahead."

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Merci pour ce post, Jeannot ! [Vous devez être inscrit et connecté pour voir cette image]

La FAA propose une amende civile à United pour négligence après un incident sur un B737 en 2008. UAL a 30 jours pour répondre

Une explication sur Airtransport news :


The Federal Aviation Administration (FAA) is proposing a $3.8 million civil penalty against United Airlines for allegedly operating one of its Boeing 737 aircraft on more than 200 flights after the carrier had violated its own maintenance procedures on one of the plane’s engines.


On April 28, 2008, a United 737 returned to Denver after shutting down an engine due to low oil pressure indications.

During teardown of the engine a week later, United mechanics found that two shop towels, instead of required protective caps, had been used to cover openings in the oil sump area when maintenance was done in December 2007.
As a result of United’s failure to follow its maintenance procedures, between February 10 and April 28, 2008 it flew the aircraft on more than 200 revenue flights when it was not in an airworthy condition.

United’s maintenance procedures specifically require use of protective caps or covers on all components that could be adversely affected by entry of foreign materials.

United has 30 days from the receipt of the civil penalty letter to respond to the FAA.

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Bonjour, chers tous !

Est-ce que les espoirs se renforcent, ... dans la direction d'une reprise économique, pour le transport aérien, aux USA ?

Lien :
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DATE:21/10/09. SOURCE:Air Transport Intelligence news
United moves closer to fleet revamp decision
By [Vous devez être inscrit et connecté pour voir ce lien]

United Airlines still maintains it plans to reach a decision by year-end about placing an order with [Vous devez être inscrit et connecté pour voir ce lien] or [Vous devez être inscrit et connecté pour voir ce lien] for widebody aircraft, and replacement of its Boeing 757s.

Programme intéressant ! Pour remplacer les B757-200 : des A321 ?

The carrier formally sent a request for proposal in June to the rival airframers after determining the competitive environment was ripe for either Airbus or Boeing to secure an order from one of the largest wide-body operators in the world.
Flightglobal's ACAS database shows United currently operates 25 747-400s, 34 767-300ERs, 19 777-200s and 33 777-200ERs. The carrier also operates 94 757-200s.
Today during a call with analysts and investors to discuss the carrier's $57 million loss for the third quarter, United CFO Kathryn Mikells said the carrier is "very close to wrapping this up and making a decision", about its intent to place an order.
Mikells says both manufacturers offer "very good products in terms of their potential to fit into our long term fleet strategy".
At this point Mikells stresses it is "really about the deal and the economics of the aircraft, and that's what we're pressing on right now".
United remains confident both manufacturers will remain "very responsive" in the competition, says Mikells, "and we look forward to bringing it to a close".

Affaire à suivre de près ! Annonce imminente ?

Annonces claires cettte année d'UAL :

Le Boeing 777-300ER est "old technology"

Pas d'intérêt pour l'A 380 et le B 747-8

Des 757 à remplacer et des A 320 déjà en flotte, dont certains, les plus anciens, peuvent être rendus à Airbus d'après le contrat initial.

Un 787 que tout le monde attend, patiemment ou pas.

Alors la possibilité d'A 321 et d'A350XWB est réelle pour UAL

Merci, DOUGLAS !

DOUGLAS a écrit:Annonces claires cettte année d'UAL :

Le Boeing 777-300ER est "old technology"

Pas d'intérêt pour l'A 380 et le B 747-8

Des 757 à remplacer et des A 320 déjà en flotte, dont certains, les plus anciens, peuvent être rendus à Airbus d'après le contrat initial.

Un 787 que tout le monde attend, patiemment ou pas.

Alors la possibilité d'A 321 et d'A350XWB est réelle pour UAL

Analyse pertinente !
De toutes façons, au travers de son appartenance à la Star Alliance, UAL a accès aux A380 (et au B747-8I, le cas échéant) de LHA. Et cette appartenance lui permet d'optimiser son choix d'A321, équipés des moteurs IAE-V2500, comme le sont ses A320 actuels, et comme le sont les A321 de LHA.

Pour rester fidèle à Boeing, il se pourra qu'UAL acquière un "mix" de B787 et d'A350-XWB, surtout les versions -900 & -1000 de ces derniers !

Additif.

Ne pas oublier qu'UAL affectionne P&W, mais non pas GE !

Airbus tiendrait la corde.

United Airlines is nearing a decision on refleeting, replacing Boeing 747s, 777s 767s and 757s. Flight International [Vous devez être inscrit et connecté pour voir ce lien]. Flightglobal’s ACAS database shows United operates 25 747-400s, 34 767-300ERs, 19 777-200s, 33 777-200ERs and 94 757s.
This would be a huge order for Airbus or Boeing. United previously said it plans to stick with one supplier.
The original RFP drew hoots from the industry. United sought terms that were considered ridiculous by many, particularly given United’s own financial condition and the existing backlogs at Airbus and Boeing. Industry sources said UA wanted the winning manufacturer to buy the 767s and 757s at above market valuations and lease them back at below market rental rates; to finance 100% of the new airplanes; and require no down payment or progress payments.
United said it is not interested in the Airbus A380 or the Boeing 747-8; one industry source said United might consider the 747 if Boeing would finance 105% of the purchase price, a prospect considered unlikely even though Boeing needs a new passenger-version customer. We are told UA believes the 787 in unable to perform the missions desired (perhaps a reflection of the overweight and fuel burn issues) and that the 777-300ER is considered by UA to be “old technology.” (This would be the second airline to take this view that we know of, if the characterization is correct.)
We’re told Airbus seems to have the advantage to win the order. We’re told of the prospect of 35 A350s could be initially ordered. The A320 family, which comprises the bulk of UA’s mainline fleet now that the Boeing 737 Classics have been retired, has the advantage over Boeing’s 737NG, we’re told.
The Airbus plan to add winglets to the A320 family, beginning with the A321 to better compare with the 757, may be significant. UA does not operate the A321 today. The A321 does not have quite the range of the 757 and winglets would make the airplane a better US trans-con airliner. We speculate that this might be a key to winning the UA order.
Airbus is also to decide by the end of next year whether to re-engine the A320 family, and officials are talking with CFM International, Pratt & Whitney, Rolls-Royce and International Aero Engines about doing so. Entry into service would be about four years after a decision, or late 2014 or in 2015. Airbus said it doesn’t plan a replacement airplane until 2024. Boeing will likely be forced into a similar decision along the same timeline whether to re-engine the 737.
Interestingly, it was United’s order for the A319/A320 that spurred Boeing to develop the 737NG. Boeing stubbornly offered the 737-400 to United, up to then an exclusive Boeing operator (McDonnell Douglas DC-10s being the exception). Boeing did not believe UA would order the A320 and refused to offer an update of the venerable 737. When UA ch0se Airbus, Boeing developed the 737NG.
It is unlikely re-engining will play a role in UA’s decision because Airbus won’t decide until YE2010. But we always like ironies and throw in this tidbit “just because.”

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Adieu 737


Dernier vol du dernier 737 de United le 28 octobre UA737 sur IAD - ORD - DEN - LAX - SFO. Une page a été tournée.

Que des Airbus monocouloirs à propulsion International Aero Engine à présent.

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Rapport préliminaire de trafic pour october d'UAL

Sur PRnews :

CHICAGO, Nov. 3 /PRNewswire-FirstCall/ --

United Airlines today reported its preliminary consolidated traffic results for October 2009.
The company reported an October consolidated passenger load factor of 83.1 percent. Total consolidated revenue
passenger miles (RPMs) decreased in October by 1.6 percent on a consolidated capacity decrease of 4.3 percent in available seat miles (ASMs) compared with the same period in 2008.

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Je placarde les tablaux, c'est plus simple :