United Airlines Reports 47% Increase in Q1 Profit

A United retrojet in Chicago

United Airlines announced financial results for the first quarter of 2018.

The Chicago-based airline said its net income rose by 47% to $147 million from $99 million in the same period in 2017.

The airline’s CEO, Oscar Munoz, noted that it had achieved higher numbers “despite four nor’easters and other weather disruptions.”

Revenue for the quarter was $9.03 billion, a 7.2% increase over Q1 2017.

The airline’s consolidated passenger revenue per available seat mile, or Prasm, was up 2.7%.

Consolidated traffic rose 4.7% year-over-year to 49.85 million RPMs, or revenue passenger miles, on a 3.6% increase in capacity to 61.97 million ASMs, or available seat miles, yielding a load factor of 80.4%, up .08 percentage points from the same period last year.

The airline also adjusted its EPS or earnings per share guidance for the full year from $7.00 to $8.50.

(Photo: Accura Media Group)