In a statement, United Airlines' UAL CFO, Gerry Laderman, said he plans to retire in 2024. The company, which will conduct a thorough search to find a replacement for Laderman, said the position was expected to retire no later than 30 September 2024.
To maintain a smooth transfer of authority, Laderman will dissolve his current responsibilities until the effective date of UAL appointing his successor. As executive vice president, he will continue to serve as executive vice president, finance until his retirement next year.
For more than 30 years, Laderman has been a part of the Chicago-based company. Since 2018, he has been the President of the United States of America. Laderman, who is CFO, is responsible for developing the carrier's financial strategy, including cost management, capital allocation, and balance sheet optimization.
Due to the stronger-than-expected bounce back from pandemic lows, United Airlines shares have gained 25.9 year-on-year compared to the industry's 12.2 percent gain in the same period.
Copa Holdings CPA and Allegiant Travel Company ALGT are among the best-ranked stocks for investors interested in the Zacks Airline industry. While Copa sports a Zacks Rank 1 Strong Buy Allegiant, they carry a Zacks Rank 2 Buy at present.
An improvement in air-travel demand is benefiting Copa Holdings. Passengers' revenue rose 28.5% from the highest level in the first quarter of 2019 due to higher yields.
CPA's focus on its cargo sector is encouraging. In the first quarter of 2023, cargo and mail revenues rose 51.8% from the highest levels in 2019 due to increased cargo volume and yields.
The modernization and cost-management measures of Copa Holdings' fleet are commendable. The Zacks Consensus Estimate for current-year earnings has been revised 21.3% upward over the past 60 days.
The steady recovery of domestic and leisure air travel is seen by Allegiant, which is experiencing a significant uptick in demand. In the first quarter of 2023, operating revenues grew 29.9 percent on a year-on-year basis. Passenger revenues, accounting for 93.7% of the top line, rose 31.3% on a year-on-year basis.
Allegiant's fleet-modernization efforts are encouraging. The Zacks Consensus Estimate for ALGT's current-year earnings has been revised upward by 47% in the past 60 days.