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United Airlines Holdings Inc (UAL) - free report >>
ArcBest Corporation (ARCB) - free report >>
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United Airlines Holdings Inc (UAL) - free report >>
ArcBest Corporation (ARCB) - free report >>
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United Airlines (UAL) Up on Expectations of Positive Cash Flow
United Airlines Holdings Inc (UAL - Free Report) has witnessed an improvement in passenger demand and bookings in recent weeks, owing to which it expects core cash flow to be positive in March. Following this bullish update, shares of the company touched a 52-week high of $61.69 on Mar 15, before retracing a bit to close the session at $60.94, up 8.3%.
In a SEC filing, dated Mar 15, the company stated that it “has seen improvement in customer demand for travel and new bookings compared to previous estimations in recent weeks”. As a result, it expects core cash flow to be positive in March, provided the improvement in bookings is sustained. United Airlines also anticipates core cash burn for the first quarter of 2021 to compare favorably with the fourth quarter of 2020 due to the “acceleration in forward bookings”. In fact, the company estimates core cash flow to be positive moving ahead if the pace of improvement in bookings continues.
The improvement in air-travel demand is evident from the fact that the Transportation Security Administration screened more than 1.3 million passengers on Mar 12 and Mar 15, the highest since Mar 15 last year. This uptick in demand was much anticipated with coronavirus cases going down and more people getting vaccinated.
United Airlines Holdings Inc Price
United Airlines Holdings Inc price | United Airlines Holdings Inc Quote
Zacks Rank & Key Picks
United Airlines carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. (ARCB - Free Report) , Saia, Inc. (SAIA - Free Report) and Mesa Air Group, Inc. (MESA - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of ArcBest, Saia and Mesa Air have rallied more than 100%, 75% and 300% in the past six months, respectively.
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