United Airlines Extends Exit Package Application Deadline
According to Reuters, United Airlines Holdings, Inc. UAL has extended the deadline for applying for voluntary exit packages. The benefits of the exit package have also been improved.
In order to avoid involuntary layoffs in October (job cuts until September 30 are prohibited under the CARES Act), the airline now needs "a lot more people to sign up for the voluntary exit packages". Therefore, the period from June 18 to July 8 was extended. "Thousands" flight attendants have already registered.
In addition to the medical, retirement, and travel benefits already offered, cabin crew members receive a $ 1,500 health credit for every year worked up to $ 45 to pay for health care, including prescriptions.
United Airlines Holdings Inc price
United Airlines Holdings Inc price
Scroll to continue with the content
Price from United Airlines Holdings Inc | United Airlines Holdings Inc offer
Although United Airlines has seen a gradual increase in passenger numbers, it is far below the previous year's level. Given the ongoing concerns about the corona virus, a recovery may occur in a few years. In view of this, the company expects to operate a "significantly smaller airline" in the future, which would also mean a reduction in personnel.
Due to the low demand, the company's capacity has already shrunk considerably. In April and May, the airline's planned capacity decreased by around 88% compared to the same period in the previous year. This is expected to decrease by approximately 85% and 75% respectively in June and July. Given this significantly reduced flight schedule, the airline said last month that it only needed about 3,000 of its 25,000 flight attendants in June.
Zack's Rank & Key Picks
United Airlines has a Zacks Rank 3 (Hold). Some of the better ranked stocks in the wider transportation sector are Scorpio Tankers Inc.STNG, Teekay Tankers Ltd. TNK and Frontline Ltd FRO. While Frontline has a Zacks rank 1 (strong buy), Scorpio tankers and Teekay tankers have a Zacks rank 2 (buy). The full list of today's Zacks # 1 Rank stocks can be found here.
The Zacks consensus estimate for Scorpio Tankers' profits this year has been revised up by more than 100% over the past 60 days.
The Zacks consensus estimate for Teekay Tanker's current year has been revised up 35.6% over the past 60 days.
The Zacks consensus estimate for Frontline's earnings this year has been revised up 17.1% over the past 60 days.
The hottest tech megatrend of them all
Last year, $ 24 billion in sales were generated worldwide. An increase to $ 77.6 billion is forecast by 2020. Famous investor Mark Cuban says he will produce "the world's first billionaires", but that should leave a lot of money for regular investors who make the right trades early on.
Check out the 3 best stocks from Zacks to play this trend >>
Would you like the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click here to get this free report
United Airlines Holdings Inc (UAL): Free stock analysis report
Frontline Ltd. (FRO): Free stock analysis report
Teekay Tankers Ltd. (TNK): Free stock analysis report
Scorpio Tankers Inc. (STNG): Free stock analysis report
To read this article on Zacks.com, click here.
Zacks Investment Research
This man created a personalized Peloton workout for his girlfriend on her birthday: 'Her love language is exercise'
McDonald's is selling popular menu items for 35 cents or less during its 'Throwback' Thursdays deal
Chrissy Teigen Lost A Tooth By Eating A Fruit Roll-Up And TBH We’ve All Been There
Jersey Shore : Nikki Hall Is 'the One' for Pauly DelVeccchio, Says Mike 'The Situation' Sorrentino
Alibaba's Jack Ma makes first public appearance in three months
Tiffany Haddish, 41, Shows Off 30-Day Transformation And Her Bod Is ?