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-United Continental Holdings posts positive net income in Q3.

AIRLINE INDUSTRY INFORMATION-(C)1997-2012 M2 COMMUNICATIONS

Chicago, USA-based airline operator United Continental Holdings, Inc. (NYSE: UAL) said it has reported third-quarter 2012 net income of USD 520m, or USD 1.35 per diluted share, excluding USD 514m of net special charges.

Including special charges, UAL reported third-quarter 2012 net income of USD 6m, or USD 0.02 per diluted share. UAL third-quarter consolidated passenger revenue decreased 2.6 % year-over-year. Third-quarter consolidated passenger revenue per available seat mile (PRASM) decreased 1.3 % compared to the same period in 2011.

Consolidated unit costs holding fuel rate and profit sharing constant and excluding special charges and third-party business expense increased 2.5% year-over-year on a consolidated capacity reduction of 1.4%. Third-quarter consolidated CASM increased 6.6% year-over-year.

UAL said it ended the third quarter with USD 7.2 b in unrestricted liquidity.

For the third quarter of 2012, total revenue was USD 9.9b, a decrease of 2.6% year-over-year. Third-quarter consolidated passenger revenue decreased 2.6% to USD 8.8b, compared to the same period in 2011.

Consolidated revenue passenger miles decreased 1.5% on a consolidated capacity (available seat miles) decrease of 1.4 % year-over-year for the third quarter, resulting in a third-quarter consolidated load factor of 85.2%. Consolidated yield for the third quarter of 2012 decreased 1.2% year-over-year.

Third-quarter 2012 consolidated PRASM decreased 1.3 % compared to the same period in 2011.

Mainline RPMs in the third quarter of 2012 decreased 1.9 % on a mainline capacity decrease of 1.4% year-over-year, resulting in a third-quarter mainline load factor of 85.7 %. Mainline yield for the third quarter of 2012 decreased 1.5% compared to the same period in 2011. Third-quarter 2012 mainline PRASM decreased 2.0 % year-over-year.

Total operating expenses, including special charges, increased USD 473m, or 5.1%, in the third quarter compared to the same period of 2011. Third-quarter 2012 operating expenses, excluding fuel, profit sharing, special charges and third-party business expense, increased USD 92m, or 1.7%, year-over-year. Third-party business expense was USD 55m in the third quarter.

Both consolidated and mainline CASM, excluding special charges and third-party business expense, increased 2.3 % in the third quarter of 2012 compared to the same period of 2011. Third-quarter consolidated and mainline CASM, including special charges, increased 6.6 and 7.5% year-over-year, respectively.

In the third quarter, consolidated and mainline CASM, excluding special charges and third-party business expense and holding fuel rate and profit sharing constant, increased 2.5% and 2.0%, respectively, compared to the results for the same period of 2011.

For more information, visit united.com.

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Publication:Airline Industry Information
Article Type:Financial report
Date:Oct 26, 2012
Words:459
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