United Airlines Q3 Profit Falls After ‘Unprecedented’ Storms Impact Operations

By Paul Riegler on 18 October 2017
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DSC_0113United Airlines announced financial results for the third quarter of 2017.

The Chicago-based airline said its net income fell by a third to $669 million from $997 million in the same period in 2016. The airline attributed part of the decline to $185 million in pretax losses caused by canceled flights during the Atlantic hurricane season.

Revenue for the quarter was $9.9 billion, unchanged from Q3 2016.

The airline’s consolidated passenger revenue per available seat mile, or Prasm, was down 3.7%. Consolidated traffic rose 3.2% year-over-year to 53.2 million RPMs, or revenue passenger miles, on a 4.2% increase in capacity to 63.2 million ASMs, or available seat miles, yielding a load factor of 84.4%, down 1.1 percentage points from Q3 2016.

“Our employees continued to run a great operation and set new company records during the third quarter despite a challenging operational environment with an unprecedented series of storms,” said Scott Kirby, the airline’s president, in a statement.

(Photo: Accura Media Group)

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