| Stage | LUV | % of rev | UAL | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $8.4B | 100.00% | $17.9B | 100.00% | UAL ×2.12 |
| Gross profit | $2.4B | 28.79% | $6.4B | 35.94% | UAL +7.1pp |
| Operating income | $379M | 4.50% | $1.4B | 8.09% | UAL +3.6pp |
| Pre-tax income | $355M | 4.22% | $1.3B | 7.33% | UAL +3.1pp |
| Net income | $270M | 3.21% | $1.0B | 5.76% | UAL +2.6pp |
| Stage | LUV | UAL | Gap · A − B |
|---|---|---|---|
| Revenue | $8.4B100.00% | $17.9B100.00% | UAL ×2.12 |
| Gross profit | 28.79%$2.4B | 35.94%$6.4B | UAL +7.1pp |
| Operating income | 4.50%$379M | 8.09%$1.4B | UAL +3.6pp |
| Pre-tax income | 4.22%$355M | 7.33%$1.3B | UAL +3.1pp |
| Net income |
| 3.21%$270M |
| 5.76%$1.0B |
| UAL +2.6pp |
None
No disclosed counterparties: LUV.