United First Quarter Profit Down 69%

By Jesse Sokolow on 18 April 2017
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DSC_0283 (1)United Airlines announced financial results for the first quarter of 2017 accompanied by yet another mea culpa from the embattled airline’s CEO.

“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.

(Photo: Accura Media Group)

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