Airline shares have been enormously volatile in the last year as concerns about intensifying competition have largely offset the initial gains from lower fuel. Given the recent drop, is the potential upside worth the risk? Are airlines actually undervalued ‘real’ businesses? Has consolidation really changed the behavior in the industry? How has competition evolved from both a top-down and bottom-up perspective? We will present a black book examining the myths, half-truths, and genuine progress in the US airline industry on July 14th at 1PM.
- A Long View of Airlines: Valuation, capacity sensitivities, adjusted performance
- Fleet Dynamics: Lower fuel, capacity trends, historical drivers
- UAL Update: Changing tactics, problem generating cash
- Consolidation: Competitive intensity, cream skimming, industry comparisons, so-called collusion
- Industry Changed? Vehicles & strategy to reduce the odds of being the greater fool
Dial-in and a link to the materials will be distributed in a reminder e-mail prior to the call.