United Profit Falls 32% in Second Quarter
By Jesse Sokolow on 20 July 2016
United Airlines announced financial results for the second quarter of 2016.
Net income for the quarter was $863 million, excluding special charges, a 31.5% year-over-year decrease. Revenue was down 5.2% at $9.4 billion.
The airline’s consolidated passenger revenue per available seat mile, or Prasm, was down 6.6%, which the carrier attributed to a strong U.S. dollar, lower surcharges, travel reductions from customers impacted by declining oil prices.
United said that it had recorded the best six-month on-time performance, and the carrier said that it finished first or second in on-time arrivals among the four largest U.S. network airlines each.
(Photo: Accura Media Group)
