Higher fares and traffic boost United Airlines 4Q profit, with help from cheaper fuel, too | iNFOnews | Thompson-Okanagan's News Source

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Higher fares and traffic boost United Airlines 4Q profit, with help from cheaper fuel, too

FILE - In this Saturday, Dec. 21, 2013, file photo, Holiday travelers check in at the United Airlines ticket counter at Terminal 1 in O'Hare International Airport in Chicago. United Airlines reports quarterly earnings on Thursday, Jan. 23, 2014. (AP Photo/Nam Y. Huh)
January 23, 2014 - 5:02 AM

The parent of United Airlines says fourth-quarter net income totalled $140 million as more passengers flew, and paid more for their tickets. The airline's fuel bill also shrank.

United Continental Holdings Inc. earned $140 million, or 37 cents per share. A year earlier it lost $620 million, or $1.87 per share.

Not counting special charges, United would have earned 78 cents per share — well above the 66 cents expected by analysts surveyed by FactSet.

Revenue rose more than 7 per cent to $9.33 billion, also higher than analysts had expected.

Passengers paid 3 per cent more per mile to fly compared to a year earlier.

United said in November that it intends to cut $2 billion in annual costs. The company is still working to integrate Continental after their 2010 merger.

News from © The Associated Press, 2014
The Associated Press

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