United's Cash Position to Hold Steady During Second Quarter
There has been a lot of talk lately about United’s cash position and the potential need for the airline to increase its liquidity. A recent SEC filing shows that at least during the second quarter, United’s cash position is holding firm.
At the end of the first quarter, United had $2.457 billion in unrestricted cash and $255 million in restricted cash. Now, United says that at the end of the second quarter, it will have $2.5 billion in unrestricted cash and $300 million in restricted cash. I think we can call that relatively flat.
Other numbers weren’t nearly as encouraging. Passenger unit revenue will be down 17.9 to 18.9 percent year-over-year, though this doesn’t include much of the large ancillary revenue pot they expect this year. This is consistent with what other airlines are showing so far. Things are not getting better just yet.
In addition to writing BNET's travel industry blog, Brett Snyder also pens the award-winning consumer travel blog, Cranky Flier. You can follow him on Twitter under the name crankyflier.
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