United First Quarter Profit Down 69%
“It is obvious from recent experiences that we need to do a much better job serving our customers,” said Oscar Munoz in a statement accompanying the earnings report.
Net income for the quarter fell to $96 million, down 69.3% year-over-year from $313 million in the same period last year.
First-quarter revenue was $8.42 billion, a 2.7% increase, compared to $8.2 billion in Q1 2016.
The airline’s consolidated passenger revenue per available seat mile, or Prasm, was flat year-over-year. The airline expects second-quarter consolidated Prasm to be up 1.0 to 3.0 percent.
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