Yahoo Finance United Airlines (UAL) Ups Capacity for Political Conventions
United Airlines Holdings, Inc. (UAL) is all set to contribute politically by increasing its capacity. To this end, United Airlines announced the addition of almost 200 new flights to make travelingsmoother and hassle-free for political enthusiasts and convention attendees during this summer's national political conventions. Tickets have been available on the United app and United.com.
Let’s discuss UAL’s capacity expansion in detail.
United Airlines is increasing its Milwaukee flying by more than 75% for the Republican National Convention in July, allowing almost 5,000 more people to attend the historic event.
The company will have more than 280 flights to and from Milwaukee during the convention week. This includes a new, nonstop flight between Milwaukee and Washington Reagan airport; 72 additional flights from UAL’s hubs in Chicago O'Hare, New York/Newark, Denver, Washington Dulles and Houston; and 20 roundtrip flights on larger aircraft.
For the Democratic National Convention, United Airlines is set to fly its largest schedule from its Chicago O'Hare hub since 2019 in August. This is inclusive of a 40% increase in flying between Chicago O'Hare and Washington Reagan, with more than 530 flights per day on peak days.
The schedule includes 38 extra flights between Chicago O'Hare and Washington Reagan. Moreover, 80 flights will be added between Chicago O'Hare and cities like Albany, Atlanta, Austin, Baltimore, Boston, Portland, Phoenix, Sacramento, San Diego, San Jose and Seattle. All flights on peak convention days will be on Boeing 737 MAX 8, with UAL’s signature interiors.
Patrick Quayle, United Airlines' senior vice president of Global Network Planning and Alliances, stated, "These conventions are steeped in tradition and have now evolved to become a weeklong celebration of our political process. We're proud to give people even more options to visit two great cities, and participate in these historic events and make their voices heard."
Zacks Rank and Stocks to Consider
Currently, UAL carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors’ consideration in the Zacks Transportation sector include GATX Corporation (GATX) and Trinity Industries, Inc. (TRN). Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GATX has an encouraging earnings surprise history. The company has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the other). The average beat is 7.49%.
The Zacks Consensus Estimate for 2024 earnings has been revised 3% upward over the past 90 days. GATX has an expected earnings growth rate of 6.79% for 2024. Shares of the company have rallied 18.4% in the past year.
Trinity raised 2024 earnings per share guidance to the range of $1.35 to $1.55 (which excludes items outside of the company’s core business operations) from $1.30 to $1.50 guided previously.
Over the past 30 days, the Zacks Consensus Estimate for TRN’s 2024 earnings has been revised 2.7% upward. For 2024, TRN’s earnings are expected to grow 8.70% year over year.
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