News Column

United Airlines Soars to Record-High Revenue

July 25, 2013
United Airlines had record revenues in the second quarter.
United Airlines had record revenues in the second quarter.

United Continental Holdings, the Chicago-based parent of United Airlines, on Thursday said it turned a profit of $469 million in the second quarter on record-high revenue.

"I am encouraged by the progress we made in the second quarter -- in our operations, in our customer service and in our financial performance," said Jeff Smisek, United's chief executive officer, in a statement.

Officials added that United made strides in improving customer service and on-time performance, two areas that contributed to United's poor customer-satisfaction ratings in a number of surveys.

The world's largest airline earned $1.21 per share, a 38 percent increase over last year's same quarter.

Excluding $52 million of special charges, the airline company would have earned profit of $521 million, or $1.35 per share, which beat average Wall Street analyst forecasts of $1.29 per share.

The quarterly profit reverses losses in recent quarters.

For the second quarter, total revenue was a record-high $10 billion, an increase of 0.6 percent compared to the same period in 2012, and in line with what stock analysts expected.

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Source: (c)2013 the Chicago Tribune Distributed by MCT Information Services

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