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Financial

United Airlines reaches agreement in principle to enhance liquidity

UAL Corporation reported that it reached an agreement in principle with its Mileage Plus co-branded bank card partner, Chase Bank U.S.A., N.A. (“Chase”), and Paymentech, one of its credit card processors, to extend the term of their respective agreements. As part of the transaction, United will receive a payment of $600 million from Chase, which

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Boeing reports second-quarter financial results, reaffirms guidance

The Boeing Company’s second-quarter earnings per share decreased 14% to $1.16 per share, on revenue of $17.0 billion and an operating margin of 7.4%. Results were affected by the previously disclosed charge for the Airborne Early Warning & Control (AEW&C) program and lower profitability due to mix and timing in Commercial Airplanes, partially offset by

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Northwest Airlines reports second quarter loss of $377 million

Northwest Airlines reported a second quarter 2008 net loss of $377 million, or $1.43 per share. Reported results include a net non-cash impairment charge of $547 million and a $250 million gain associated with marking-to-market out-of-period fuel hedges. These results compare to the second quarter of 2007 when Northwest reported net income of $2.1 billion,

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JetBlue reports 2nd quarter loss of $7 million

JetBlue Airways Corporation reported that operating revenues for the quarter totaled $859 million, representing growth of 17.7% over operating revenues of $730 million in the second quarter of 2007. Operating income for the quarter was $21 million, resulting in a 2.4% operating margin, compared to operating income of $73 million and a 10.0% operating margin

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UPS quarterly profit falls

UPS reported a 6.7% revenue increase in the second quarter but an 18.3% decline in diluted earnings per share to $0.85 compared to $1.04 the prior year. Increasing fuel costs and a stagnant U.S. economy caused the earnings decline in both the U.S. Domestic and International Package segments. In contrast, the Supply Chain and Freight

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GE and Mubadala launch global business partnership

United Arab Emirates and Mubadala Development Company, headquartered in Abu Dhabi, UAE, announced a framework agreement on a global partnership encompassing a broad range of initiatives including commercial finance, clean energy research and development, aviation, industry and corporate learning. Building on an already strong relationship and a common view of high growth opportunities in the

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