United Airlines Profits Up 84% for 2013

By Paul Riegler on 23 January 2014
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United Airlines planes in Los Angeles

United Airlines planes in Los Angeles

United Continental Holdings, the nation’s second largest air carrier, announced financial results for 2013 as well as the fourth quarter.  Revenue for 2013 was $38.3 billion, an increase of 3% from 2012.  Net income for the same period was $1.084 billion, an 84% year-over-year increase, excluding special charges.  Including special charges, net income was $571 million.

For the fourth quarter of 2013, the Chicago-based airline reported revenue of $9.3 billion, a 7.1% year-over-year increase.  Net income for the quarter was $298 million, excluding $158 million in special charges.

Passenger revenue per available seat mile, a key industry performance metric, grew 3.2%, while passenger traffic rose 2.7% in the quarter  Capacity increased by 2.6% and the airline’s load factor improved slightly, going from 82.4% from 82.3%.

United Airlines consolidated passenger revenue per available seat mile increased 3.1% in 2013 compared to 2012 and its employees earned $190 in profit sharing for the year.

(Photo: Accura Media Group)

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