SOURCE: The Bedford Report
The Bedford Report Provides Analyst Research on United Continental & AMR Corporation
NEW YORK, NY–(Marketwire – October 21, 2010) – Shares of Major Airlines have skyrocketed as key industry players are reporting a speedy return to profitability after last year’s losses. The airlines are benefiting from a rise in travel demand amid an industry wide effort to keep capacity from growing too fast. Going forward analysts expect airlines overall to further cement their turnaround despite rising fuel prices and an uncertain U.S. economy. The Bedford Report examines the outlook for companies in the Major Airlines Industry and provides research reports on United Continental Holdings (
www.bedfordreport.com/2010-10-UAL
www.bedfordreport.com/2010-10-AMR
It had been a long couple years for American Airlines parent AMR, as the company hadn’t posted a profit since mid-2008. Then on Wednesday AMR reported that it earned $143 million, or 39 cents per share, in the third quarter on revenues of $5.84 billion. AMR also confirmed that it is staking its future on boosting flying to Asia and Europe. The company announced a major expansion of flights to and from Los Angeles which included a new service to Shanghai.
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Also set to post earnings this week on Thursday is United Continental Holdings. This summer United and Continental completed their merger to become the world’s largest airline. Both companies reported positive traffic results in September with United up 7.6%, and Continental showing a 3.1% rise.
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