If you’re a stockholder in Continental Airlines or Delta Airlines you had a pretty good week. Both companies reported better than expected earnings. This comes the same week that the Wall Street Journal and other media outlets reported that the month of June has been one of the worst for airline passengers.
Granted Continental didn’t give a great outlook which sent shares down because investors weren’t impressed with the percieved future. So I guess that could be a consolation prize to those of us who sat in a middle seat from Newark to Vegas and were stuck on the runway for an hour before take off because of the back up.
I’ve flown a lot of airlines latley and I have to say that (knock on wood) I don’t think Continental is all that bad.
(I don’t think Delta is all that bad either. United sucks balls though)
However, apparently during the month of June it was the worst year for delays and cancellations. There were also more flights than ever before and most going into the same places such as JFK.
I can contest to some of this. I flew a lot in June but was never cancelled. I was delayed and rushed to get on a plane. I also know people who waited a day or so in an airport to catch their flight. It was bad and I assume it could have been handled better but then again maybe not.
Airlines are in it for the money. They are public companies trying to make a profit. Some did as you could see when they reported earnings to Wall Street. However I find it ironic that within the same week that they report good earnings to investors it is also was reported that this was one of the worst travel months on record.
Not a good sign for travelers such as myself but I suppose a good sign for investors who stay at home.