United Airlines Profits Up 84% for 2013
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)