United to post $105m Q2 charge on Brazil routes
United said Friday it expects to record a special charge of $105m in Q2 after determining an Open Skies agreement between Brazil and the United States impairs the value of its Brazil routes. United said the value of its Brazil routes were impaired because the agreement removes reciprocity requirements for flights between the two countries, and does not reflect any decline in passenger traffic. “This is about an accounting non-cash write down and has nothing to do with the value of the routes,” a United spokeswoman said. United is due to publish Q2 results after the market closes on July 17, followed by a conference call on July 18.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-07-09/star/united-to-post-105m-q2-charge-on-brazil-routes
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United to post $105m Q2 charge on Brazil routes
United said Friday it expects to record a special charge of $105m in Q2 after determining an Open Skies agreement between Brazil and the United States impairs the value of its Brazil routes. United said the value of its Brazil routes were impaired because the agreement removes reciprocity requirements for flights between the two countries, and does not reflect any decline in passenger traffic. “This is about an accounting non-cash write down and has nothing to do with the value of the routes,” a United spokeswoman said. United is due to publish Q2 results after the market closes on July 17, followed by a conference call on July 18.<br/>
