And among those names, US airlines that offer international routes are faring better than their domestic counterparts.
"Fuel remains volatile and worked against us in the quarter. Our average fuel price for the quarter ended $0.30 higher than the midpoint of our July expectation and more than accounts for the entirety of the reduced outlook for the third quarter," Michael Leskinen, chief financial officer of United, said during the company's earnings call.
"The network carriers are using their profitability from international to compete a little bit more aggressively and take some of that share back domestically that they may have lost during the pandemic over the last few years," added Third Bridge's Raite — a point reiterated by major carriers this week.
"The big winners in the pilot shortage are the network carriers. The network carriers can pay more than the low-cost carriers and they fly larger planes, which is attractive to pilots," said Raite."It doesn't seem that the carriers are seeing that. What gives confidence in that statement is what we're seeing with the reconfiguration of cabins," Raite said.have reconfigured their cabins to essentially flex to the more affluent consumer.
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