CNNFN writes article about United, in turmoil, reports drop in revenue:
By Paul R. La Monica @lamonicabuzz
5 stunning stats about airlines
5 stunning stats about airlines
United Continental has hit another rough patch.
The airline said Thursday that sales in the third quarter were down
from a year ago and profits missed forecasts.
And while falling jet fuel prices have helped United save money, the
airline said the weakness in the energy sector is now hurting demand as
fewer oil workers take business trips.
Then there’s the internal turmoil at United.
New CEO Oscar Munoz, who just joined the company in September, suffered
a heart attack on Thursday.
United (UAL) said on Monday that Munoz, 56, would be taking a
medical leave and named its general counsel, Brett Hart, to be its
acting CEO.
In a statement Thursday, Hart thanked United’s employees for their
“hard work, professionalism and contributions” and added that “the
United family has had a challenging few weeks.”
Hart said United would continue to work on the agenda put into place by
Munoz to try and boost the airline’s profit margins.
CNNFN Article Source Here.