He mea koʻikoʻi nā mahina e hiki mai ana no United Airlines no ka mea ʻo ia a me nā mokulele ʻē aʻe o ʻAmelika e hoʻokō nei i kahi ʻoki kālā.
ʻO ka hoʻihoʻi ʻana o ka honua i kumu i ke kūʻai aku ʻana o nā tiketi mokulele i ka hohonu ma mua o kekahi - nā mea lawe a i ʻole nā mea loiloi - i manaʻo ʻia.
Ma mua o ka hoʻopaʻa ʻana i ke kālā mai ka wā kiʻekiʻe e lele ana i kēia kauwela e like me ka mea maʻamau, ke uku nei ʻo United a me kāna mau hoa i ka pānaʻi o ke aliʻi e hōʻaiʻē kālā e loaʻa iā lākou i nā mahina hoʻoilo, i ka wā e maʻa mau ai ka noi no ka huakaʻi ea.
Akā ma hope o ka hoʻohana ʻana i nā mea āpau mai nā mile lele pinepine a i nā ʻenekini jet kaʻawale, ua haʻahaʻa ʻo United i nā waiwai i hiki ke hoʻohana ʻia ma ke ʻano he hōʻaiʻē a kūʻai aku paha e hoʻonui i ke kālā. Hoʻopili ia i nā koho o ka mea lawe ʻo Chicago e kū nei i nā koi hou e kāna mau kāleka kāleka hōʻaiʻē e mālama i ke kālā palena ʻole kokoke i ka pae o $2.5 biliona i kēia manawa, wahi a nā mea loiloi.
ʻO ka manaʻolana o kahi hoʻoilo lele ʻē aʻe no nā mea lawe US hiki ke hoʻoulu hou i ka hoʻohui ʻana, i ʻōlelo ʻia e nā mea loiloi, me United a me Houston-based Continental Airlines ʻo ia ka mea e hiki ai ke hoʻi hou i nā kūkākūkā hui.
Ma hope o ka hāʻule ʻole ʻana o nā kamaʻilio ʻana i ka makahiki 2008, ua hoʻokumu lāua i kahi pilina pili, a i ʻole hui ʻana i ka virtual, kahi i huki ʻia i ka nānā ʻana mai ka 'Oihana Hoʻokolokolo, hiki ke hoʻolilo i ka ʻoihana ʻoi aku ka maikaʻi ma mua o kahi hui piha.
"Manaʻo wau he manaʻo nui ka hui ʻana," wahi a Roger King, ka mea loiloi mokulele no CreditSights Inc.
Paʻa ke kālā ma waena o ka ʻoihana mokulele, a ʻo Ft. ʻO American Airlines a me Tempe, ʻo Ariz.-based US Airways hiki ke alo i nā pilikia wai inā e pōʻino nā kūlana, ua ʻōlelo ʻia e nā mea loiloi. Ke alo nei ʻo ʻAmelika i ka uku ʻaiʻē nui i ka makahiki e hiki mai ana a me ke kaomi ʻana mai kahi kaʻina hana kāleka hōʻaiʻē. He ʻaiʻē liʻiliʻi ka US Airways akā ʻoi aku ka liʻiliʻi o nā waihona kālā.
"Ke nānā nei ka ʻoihana holoʻokoʻa i ka emi ʻana o ka wai a me ke kahe kālā," wahi a Bill Warlick, ka luna kiʻekiʻe a me ke alakaʻi loiloi mokulele me Fitch Ratings. "He kiʻi loaʻa kālā loa ia."
Ke koi nui nei ka pono o ka hana no United. Inā hāʻule kāna paʻa kālā, hiki i ʻelua mau mea hana kāleka hōʻaiʻē nui, ʻo JPMorgan Chase & Co. a me American Express, ke koi iā ia e hoʻokaʻawale i nā haneli miliona mau kālā no ka mālama ʻana i nā hoʻopaʻa mua ʻana i ka wā e piʻi ai ka hui.
Ma lalo o kahi kuʻikahi i hoʻokō ʻia i ka lā Malaki 1, koi ʻo American Express iā United e hōʻiliʻili i ke kālā ma ke ʻano sliding inā hāʻule kāna kālā paʻa ʻole ma lalo o $ 2.4 biliona. ʻO ka liʻiliʻi o ke kālā o United, ʻoi aku ka nui o ka nui e pono e waiho ʻia. Hiki iā United ke hoʻohiki i nā mokulele, nā waiwai a me nā waiwai ʻē aʻe i mea hōʻoia.
Ma Ianuali 2010, e koi aku ʻo Chase iā United e paʻa ma kahi o $2.5 biliona ma lalo o $ 134 biliona, ʻo ia ka mea e uku ʻia ai ʻo United $1 miliona inā pono ia i Mei. Inā hāʻule ke kālā o United i $ XNUMX biliona, e koi ʻo Chase iā ia e hoʻokaʻawale i ka hapalua o kāna mau kāleka hōʻaiʻē mahina, e like me ka waiho ʻana o ka Securities and Exchange Commission.
ʻOiai ua hoʻokau nā ʻoihana kāleka hōʻaiʻē iā Frontier Airlines i ka panakalupa i ka makahiki i hala, ua manaʻo ka poʻe loiloi he mea hiki ʻole ke hahai i nā hana koʻikoʻi like me United ke ʻole nā hana e hōʻino ʻia a hiki ʻole i ka mokulele.
ʻO Chase, ʻo ia hoʻi, he pilina hohonu me United e hāʻawi iā ia i ka makemake i ka mālama ʻana i ka mea lawe. ʻO kā Chase's Mileage Plus affinity card kekahi o kāna mau kāleka hōʻaiʻē kaulana loa, aʻo ka panakō i ka makahiki i hala i hāʻawi iā United $600 miliona no ke kūʻai mua ʻana i nā mile lele pinepine. Ua hōʻole ka ʻōlelo a Chase e ʻōlelo.
"Inā loaʻa iā ʻoe nā keikikāne nui ma ka papaʻaina e like me nā hui kāleka hōʻaiʻē, a me kahi mokulele nui e like me United, ʻaʻohe mea e hoʻolei i kekahi i ka panakalupa," wahi a King. "E ʻimi ana lākou i kahi ala e hoʻopuni ai iā ia, ke ʻole ʻaʻohe ala a puni."
Hiki ke hoʻomaikaʻi ka waiwai o United inā hoʻomaikaʻi ka hoʻokele waiwai, hoʻi hou ka huakaʻi ʻoihana a hoʻomaka paha nā kumukūʻai mokulele e piʻi ikaika. ʻO ke kolu o ka mea lawe moku nui loa i ʻoki ʻia ma mua a hohonu hoʻi ma mua o nā mea hoʻokūkū, e hoʻonoho ana iā ia i ka 15 pakeneka i ka 20 pakeneka hāʻule i nā loaʻa kālā e ʻike ʻia e nā mokulele i kēia makahiki.
"Ke pōmaikaʻi nei mākou i ka hoʻemi ʻana o ke kumukūʻai e like me ka mea i hōʻike ʻia e kā mākou hana koʻikoʻi koʻikoʻi i nā hapaha i hala aku nei," wahi a ka ʻōlelo a United Jean Medina. "Ma kā mākou alakaʻi ʻelua hapaha, ua hoʻonohonoho ʻia mākou e loaʻa i ka pono hoʻokūkū hou ma kēia wahi, e hoʻonoho iā mākou e hoʻi i ka loaʻa kālā ke piʻi hou ka ʻoihana a no ka wā lōʻihi."
Ke kū nei hoʻi ʻo United e loaʻa i nā haneli miliona miliona e pili ana i kāna mau pā wahie inā pili nā kumukūʻai aila i nā pae o kēia manawa.
Eia nō naʻe, ʻoi aku ka liʻiliʻi o ka palena o United no ka hoʻololi ʻana, i ʻōlelo ʻia e ka poʻe loiloi, a hiki ke hōʻemi ʻia e nā kumu he nui, mai kahi ʻaila ʻē aʻe a hiki i kahi maʻi hou a make loa o ka maʻi puaʻa.
"ʻOiaʻiʻo, e pōmaikaʻi lākou i ka hoʻihoʻi hou ʻana," wahi a Philip Baggaley, ka luna hoʻomalu a me ka loiloi hōʻaiʻē kiʻekiʻe me Standard & Poor's. "Eia naʻe, ʻo ka hapa nui o nā mea nānā, e komo pū ana me Standard & Poor's economists, manaʻoʻiʻo he mea hoʻihoʻi maikaʻi loa ia. Akā kōkua kekahi mea i kēia manawa. "
Pono ʻo United e loaʻa hou ka hilinaʻi o Wall Street. Ma ka Pōʻalima, ua hōʻole kāna kumukūʻai i ka 70 pakeneka mai Ianuali, i $ 3.31 no kēlā me kēia pāhele, e waiho ana iā United me kahi mākeke mākeke o $ 476.4 miliona. He mea liʻiliʻi ia no kekahi o nā mokulele nui loa o ka honua, kahi mea lawe i loaʻa $20.2 biliona i ke kūʻai aku i ka makahiki i hala.
ʻO kahi hōʻailona ʻē aʻe o ke kū ʻana o United ma Wall Street: Ua ʻae ʻo ia e uku i ka 17 pakeneka ukupanee ma ka $175 miliona ma ka hōʻaiʻē i ka hopena o Iune i hoʻopaʻa ʻia e $583 miliona o nā ʻāpana ʻokoʻa.
ʻAʻole makemake ka poʻe hāʻawi kālā i kēlā ʻano kālā no ka mea he mea paʻakikī ke hōʻiliʻili i nā ʻenekini mokulele a me nā mea like mai nā hale kūʻai a puni ka honua inā piʻi ka mokulele. ʻO kēlā ʻoiaʻiʻo a me ka manaʻo o United ma ke ʻano he mea pāʻani nāwaliwali i koi ʻia ʻo United e uku i nā kumukūʻai kiʻekiʻe e hoʻopau i ke kālā kālā ma kahi mākeke e makaʻala ana i nā ʻoihana mokulele, wahi a nā mea loiloi.
"He manawa hoʻāʻo kēia," i ʻōlelo ai ʻo CEO Continental mua ʻo Gordon Bethune. "ʻO kā lākou kumukūʻai o ka aie e hōʻike ana i ko lākou nāwaliwali i kahi mākeke haʻahaʻa. Manaʻo wau he nui ka kānalua i laila, ʻaʻole wale no nā limahana, akā no ka lehulehu a me nā mea kuleana.
ʻAʻole i hana ʻo United i ke kuʻikahi ma muli o ka hopohopo e like me ka ʻōlelo a kekahi, wahi a Medina. ʻO ke kālepa "ua hoʻopaʻa ʻia me nā huaʻōlelo e hōʻike ana i ke ʻano, ke ʻano o ka collateral i hoʻohana ʻia a me ka mākeke hōʻaiʻē paʻa a e hoʻonui hou i kā mākou waiwai i ka wā e hoʻomau ai mākou i nā hana kūpono i ka pane ʻana i ke kaiapuni paʻakikī."
Ua loaʻa iā United he $ 1.1 biliona i nā waiwai kīnā ʻole e hiki ke hoʻohana i ke kālā, me 63 mau mokulele kahiko a me nā waiwai. Ke ʻimi nei ka mea lawe i nā mea kūʻai aku no ka pā kula ʻo Elk Grove Township e lawelawe nei ma ke kikowaena hana a me kāna kikowaena hoʻomaʻamaʻa hoʻokele ma Denver, wahi a nā kumu.
Akā ʻo ka Boeing 737 maʻamau o United he mea kūʻai paʻakikī i loko o kahi mākeke i hoʻopiha ʻia me nā jet i hoʻohana ʻia, i hoʻopaʻa ʻia, wahi a Fitch's Warlick. "He $1 biliona ko lākou i koe i nā waiwai, akā pehea ka nui o kā lākou hōʻaiʻē, pehea ka nui o kā lākou hiki ke hoʻonui i ke kālā? ʻAʻole kokoke i $1 biliona. ʻEhia ka nui o ke kālā ulia pōpilikia i koe? Aia paha ma kahi o $500 miliona i koʻu manaʻo.
ʻAʻole ʻo ke kālā wale nō ka manaʻo o United. Ua hoʻopiʻi ʻia ka mea lawe e nā mea kūʻai aku i nā noiʻi ʻoluʻolu hou, ʻoiai ʻo kāna mau hoʻoikaika ʻana e pili pono i nā hana me Continental ma ka lele honua ua kau ʻia e nā kūʻē antitrust hope loa i hāpai ʻia e ka 'Oihana Hoʻokolokolo.
ʻO nā pilikia cascading, manaʻo ka poʻe loiloi, hiki ke koi iā United e hoʻāʻo hou e hui pū me Continental, kahi hui e hana ai i ka mokulele nui loa o ka honua. ʻO ka loaʻa ʻana o ka loaʻa kālā he mea paʻakikī nui ia i ka hui ʻana, ʻoiai he pili kālā ʻo Chase i nā mea lawe ʻelua a hiki ke pāʻani i ka matchmaker, wahi a nā kumu.
ʻAʻole e kamaʻilio kekahi mokulele i ka kamaʻilio hui hou ʻana.
Me ka piʻi ʻana o nā kumukūʻai o ka poʻe kaʻa a me nā kumukūʻai aila, e hāʻawi ka hui ʻana i kumu waiwai hou i ka manawa e ulu ana ke kaomi ma United.
"Ke hele nei lākou i ka pōʻino loa o nā honua ʻelua," wahi a Baggaley no United, American a me US Airways. "Aia maoli kekahi pilikia banekorupa, a ke hoʻonui nei kēlā mau ʻano o waho maikaʻi ʻole."
