United Reports Profitable First Quarter
Net income for the quarter was $435 million, excluding special charges, a 25% year-over-year decrease. Revenue was also down almost 5% at $8.2 billion from 8.6 billion in 2015.
“I am extremely proud of United’s nearly 86,000 aviation professionals for their contributions to these strong results,“ said the company’s CEO, Oscar Munoz.
The airline’s consolidated passenger revenue per available seat mile, or Prasm, was down 7.4% to 12 cents in the first quarter of 2016. The airline said this was due to economic factors, including a strong dollar and lower fuel costs.
United said that it had recorded the best quarterly on-time performance figures since the merger with a mainline arrival rate of 71.9%.
(Photo: Accura Media Group)