UNITED Posts $545 Million Q2 Profit

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Chicago – United Continental Holdings (NYSE: UAL) is reporting second-quarter 2012 net income of $545 million or $1.41 per diluted share, excluding $206 million of net special charges. Including special charges, UAL reported second-quarter 2012 net income of $339 million or $0.89 per diluted share.

 

* UAL second-quarter consolidated passenger revenue increased 2.3 percent year-over-year. Second-quarter consolidated passenger revenue per available seat mile (PRASM) increased 3.0 percent compared to the same period in 2011.

* Second-quarter consolidated fuel expense increased 5.6 percent, or $181 million, year-over-year.

* Consolidated unit costs (CASM) holding fuel rate and profit sharing constant and excluding special charges and third-party business expense for second-quarter 2012 increased 2.1 percent year-over-year. Second-quarter consolidated CASM increased 4.6 percent year-over-year.

* UAL ended the second quarter with $8.2 billion in unrestricted liquidity.

* UAL accrued $54 million for profit sharing, based on year-to-date profitability.

“I want to thank my co-workers for all they did to help us earn a profit this quarter,” said Jeff Smisek, UAL’s president and chief executive officer. “While we still have work to do, we are making the right investments in our future, and we look forward to delivering the benefits of those investments to our customers around the globe.”

READ the FULL release HERE

2Q 2012
Passenger
Revenue
(millions)
Passenger
Revenue vs.
2Q 2011
PRASM vs.
2Q 2011
Yield vs.
2Q 2011
ASMs vs.
2Q 2011
Domestic
$3,441
0.6%
1.1%
1.3%
(0.5%)
Atlantic
1,589
(1.9%)
2.3%
1.1%
(4.1%)
Pacific
1,257
12.5%
6.6%
4.9%
5.6%
Latin America
657
(3.4%)
(3.4%)
(7.2%)
0.1%
International
$3,503
2.6%
2.6%
0.7%
0.0%
Mainline
$6,944
1.6%
1.8%
1.0%
(0.2%)
Regional
1,824
5.2%
8.5%
5.0%
(3.0%)
Consolidated
$8,768
2.3%
3.0%
1.8%
(0.6%