It is time for celebrations in United Continental at least for this time when it is reporting that it earned $2.34 per share. It reported revenue of $10.33bn in the 2nd quarter of this year and with a net income of $919 million, which is significant jump of more than 50% as compared with the same period last year.
By paying off its debts in the last few years and managing its capital expenditures quite dexterously, the company has been able to make a turnaround due to improved cash flows. It is now planning to buyback $1bn worth of shares from the public. This shows the renewed confidence of carrier in putting its finances in order.
Delta Airlines has also reported a 9% increase in revenues as compared with the last year, to $10.6bn and the net income at $889 million. The American Airlines group has also shown profits. The revenues have jumped to $11.4bn, up by 10.2 % as compared with the last year with an income of $864 million. Southwest airline has reported a profit of 465 million on revenue earnings of $5bn.