United Airlines to take big financial hit from Houston Airport closure
United Airline’s heavy reliance on Houston as a major network hub will result a big financial hit due to Hurricane Harvey.
An airline analyst estimates at least $265 million will be lost due to the prolonged closure of the airport and associated costs.
Houston’s George Bush Intercontinental Airport accounts for about 17% of United’s capacity, Helane Becker of Cowen & Co said in a report.
Harvey ‘seems more powerful and impactful,’ than other storms like Hurricane Ike in 2008, she said.
Bloomberg reports Southwest Airlines will likely take a $77 million financial hit for lost business at its Houston Hobby Airport hub which also remains closed.
These numbers could get much worse if the two airports stay shuttered going into the weekend and the Labor Day holiday period.
Officials have said Houston Hobby could possibly reopen later today and Houston Intercontinental may follow a day later.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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