Hurricane Harvey might cost United Continental over $265M
Although hurricane Harvey is an ongoing disaster, since Houston is still overrun by flood, some analysts have already estimated the possible costs to United Continental, one of the biggest carriers in the US with a significant hub in Houston, estimating losses to be twice as high as the ones Delta suffered following the IT meltdown in April 2017, according to Bloomberg.
United Continental is expected to suffer the biggest financial blow by Hurricane Harvey, since George Bush Intercontinental Airport in Houston – the city devastated by the storm the most – is the second biggest United’s hub, accounting for around 17% of its capacity.
United’s rival Southwest, another major US carrier that operates a heavy schedule from another Houston international airport (William P. Hobby Airport), is also expected to suffer storm-induced losses up to $77 million.
Hurricane Harvey hit Texas, US, on August 25, 2017 and has caused massive destruction, with the damages possibly exceeding even the ones made by hurricane Katrina that devastated Louisiana and Mississippi in 2005. The storm and flooding of the inbound and outbound roads has caused the closing of both international airports in the area: George Bush Intercontinental and William P. Hobby Airport.
Canadian stir ups: WestJet to go private, Air Canada expand
Ownership changes are looming over Canadian airlines. First, private equity company Onex announced intentions to buy Wes...