Flying Through Red Ink

Is it just me, or does anyone else have trouble understanding this article from USA Today.com?  It’s not the article, it’s the information in the article that doesn’t seem to make sense.

"United making money again 

CHICAGO (AP)  — United Airlines parent UAL (UAUA)
reported third-quarter earnings Tuesday of $190 million, marking the
first time it has posted back-to-back profits in more than six years.

Higher fares and lower costs as the result of
its three-year bankruptcy restructuring helped keep the nation’s No. 2
carrier modestly profitable despite still-lofty fuel costs.

The company’s earnings of $119 million in the second quarter was its first true profit since 2000."

How in the world do you go more than six years without making a profit and stay in business?  According to the article, United has lost "billions of dollars" since 2000.  If United lost billions, who found it?  And why is their stock selling for almost $38.00 per share?  Any thoughts?

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