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United Airlines Holdings Inc (UAL) - $25 value - yours FREE >>
C.H. Robinson Worldwide, Inc. (CHRW) - $25 value - yours FREE >>
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United Airlines (UAL) Inks Codeshare Agreement With Airlink
In order to expand its international footprint, United Airlines (UAL - Free Report) entered into a new codeshare agreement with Airlink, an airline based in South Africa. The deal will offer one stop connection from the United States to more than 40 destinations in Southern Africa. This codeshare will be implemented upon an approval by the respective governments.
United Airlines will be the first airline to connect its loyalty program with Airlink, allowing MileagePlus members to earn and redeem miles when they travel on Airlink flights. This is in addition to the carrier’s existing partnership with Star Alliance member South African Airways.
In order to expand its reach in Africa, United Airlines announced plans to fly between Washington, D.C. and Lagos Nigeria (starting Nov 29) earlier this month. This is, however, subjected to government approval. In the beginning of 2021, the airline had launched a new route connecting New York and Washington, D.C. to Johannesburg (South Africa) and Accra (Ghana), respectively. This route is expected to operate daily this December and January 2022. Moreover, service between New York and Cape Town is also anticipated to commence from Dec 1.
With air travel demand improving from 2020 levels, we believe that the decision to enter into a codeshare agreement might boost traffic for United Airlines.
Zacks Rank & Stocks to Consider
United Airlines currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Schneider National, Inc. (SNDR - Free Report) , C.H. Robinson Worldwide, Inc. (CHRW - Free Report) and TFI International Inc. (TFII - Free Report) . All the stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Schneider National, C.H. Robinson and TFI International is pegged at 17.9%, 9% and 31.6%, respectively.