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United Airlines (UAL) to Increase U.S. Flights to Australia
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United Airlines Holdings, Inc. (UAL - Free Report) has decided to add flights to Australian cities with the relaxation of COVID-related travel restrictions and the ongoing surge in air-travel demand.
This Zacks Rank #3 (Hold) carrier plans to fly nonstop from San Francisco International Airport (SFO) to Brisbane, Melbourne and Sydney; from Los Angeles International Airport (LAX) to Melbourne and Sydney; and from Houston to Sydney. Except for SFO-to-Sydney service, which is on UAL’s largest aircraft, 777-300ERs, all other services to Australia are being carried on Boeing 787-9 Dreamliners.
Per a recent report, UAL plans to start flying nonstop from SFO to Brisbane on Oct 28. From SFO to Sydney, UAL will add three weekly flights to the daily nonstops it currently operates. These three new nonstops have been scheduled to fly from Dec 14, 2022, to Feb 8, 2023, marking 10 weekly UAL nonstops between Sydney and San Francisco. Notably, increasing demand between the Bay Area and Sydney has led the carrier to add flights on this route.
Patrick Quayle, senior vice president of global network planning and alliances at United Airlines, stated, “United has a great history serving Australia and with our new codeshare partnership with Virgin Australia, the future is even brighter. With strong demand for the upcoming northern winter season, we’re proud to add even more travel options for our customers, both in the U.S. and in Australia.”
Apart from Australia, UAL is also looking forward to flying smoothly to more Asian countries. Japan removed majority of its Covid travel restrictions on Oct 11, and Hong Kong also ended its three-day mandatory hotel quarantine policy for all its visitors.
We remind investors that owing to the buoyant air-travel demand, United Airlines now anticipates total operating revenues to grow almost 12% from the September quarter of 2019. The estimate is higher than the prior expected growth rate of about 11%.
ZTO Express has an expected earnings growth rate of 22.9% for the current year. ZTO delivered a trailing four-quarter earnings surprise of 8.9%, on average.
The Zacks Consensus Estimate for ZTO’s current-year earnings has improved 4.4% over the past 90 days. Shares of ZTO have lost 19.6% over the past year.
Copa Holdings has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.2%, on average.
Shares of CPA have lost 15.7% over the past year.
Teekay Tankers has an expected earnings growth rate of 172.86% for the current year. TNK delivered a trailing four-quarter earnings surprise of 46.1%, on average. Teekay Tankers has a long-term expected growth rate of 3%.
The Zacks Consensus Estimate for TNK’s current-year earnings has improved more than 100% over the past 90 days. Shares of TNK have soared 88.3% over the past year.
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United Airlines (UAL) to Increase U.S. Flights to Australia
United Airlines Holdings, Inc. (UAL - Free Report) has decided to add flights to Australian cities with the relaxation of COVID-related travel restrictions and the ongoing surge in air-travel demand.
This Zacks Rank #3 (Hold) carrier plans to fly nonstop from San Francisco International Airport (SFO) to Brisbane, Melbourne and Sydney; from Los Angeles International Airport (LAX) to Melbourne and Sydney; and from Houston to Sydney. Except for SFO-to-Sydney service, which is on UAL’s largest aircraft, 777-300ERs, all other services to Australia are being carried on Boeing 787-9 Dreamliners.
Per a recent report, UAL plans to start flying nonstop from SFO to Brisbane on Oct 28. From SFO to Sydney, UAL will add three weekly flights to the daily nonstops it currently operates. These three new nonstops have been scheduled to fly from Dec 14, 2022, to Feb 8, 2023, marking 10 weekly UAL nonstops between Sydney and San Francisco. Notably, increasing demand between the Bay Area and Sydney has led the carrier to add flights on this route.
Patrick Quayle, senior vice president of global network planning and alliances at United Airlines, stated, “United has a great history serving Australia and with our new codeshare partnership with Virgin Australia, the future is even brighter. With strong demand for the upcoming northern winter season, we’re proud to add even more travel options for our customers, both in the U.S. and in Australia.”
Apart from Australia, UAL is also looking forward to flying smoothly to more Asian countries. Japan removed majority of its Covid travel restrictions on Oct 11, and Hong Kong also ended its three-day mandatory hotel quarantine policy for all its visitors.
We remind investors that owing to the buoyant air-travel demand, United Airlines now anticipates total operating revenues to grow almost 12% from the September quarter of 2019. The estimate is higher than the prior expected growth rate of about 11%.
United Airlines Holdings Inc Revenue (TTM)
United Airlines Holdings Inc revenue-ttm | United Airlines Holdings Inc Quote
Stocks to Consider
Some better-ranked stocks from the broader Zacks Transportation sector are ZTO Express (ZTO - Free Report) , Copa Holdings (CPA - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ZTO Express has an expected earnings growth rate of 22.9% for the current year. ZTO delivered a trailing four-quarter earnings surprise of 8.9%, on average.
The Zacks Consensus Estimate for ZTO’s current-year earnings has improved 4.4% over the past 90 days. Shares of ZTO have lost 19.6% over the past year.
Copa Holdings has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.2%, on average.
Shares of CPA have lost 15.7% over the past year.
Teekay Tankers has an expected earnings growth rate of 172.86% for the current year. TNK delivered a trailing four-quarter earnings surprise of 46.1%, on average. Teekay Tankers has a long-term expected growth rate of 3%.
The Zacks Consensus Estimate for TNK’s current-year earnings has improved more than 100% over the past 90 days. Shares of TNK have soared 88.3% over the past year.