United Continental Holdings Chairman Glenn Tilton stated US airlines are projected to post USD4 billion in profits in 2010 (Reuters, 17-Nov-2010). Mr Tilton added that airlines "have come a long way" since the early and middle part of the past decade when United and other major carriers entered bankruptcy protection. Mr Tilton also stated the United Continental balance sheet needs a "tremendous amount of deleveraging" and that it may be time to focus on making balance sheets more resilient. The carrier has around USD9 billion in cash. He added that the industry is now focusing on making itself more attractive for long-term investment.
18-Nov-2010 12:36 PM