United Continental Holdings has a profitable fourth quarter and 2010

United Continental Holdings, Inc. (Chicago) today announced fourth-quarter and pro forma full-year 2010 financial results. UAL results for the fourth quarter include the financial results of its two operating subsidiaries, United Airlines and Continental Airlines. Prior to the merger on October 1, 2010, UAL results only included the financial results of United Airlines. Pro forma results that consolidate the financial results for Continental for periods prior to October 1, 2010, are included for meaningful year-over-year comparisons.

UAL reported fourth-quarter 2010 net income of $160 million or $0.44 diluted earnings per share excluding $485 million of special items consisting primarily of merger-related costs and other special charges, an improvement of $347 million compared to the pro forma results year-over-year. On a GAAP basis, UAL reported fourth-quarter net loss of $325 million or $1.01 diluted loss per share.

UAL reported pro forma full-year 2010 net income of $1.6 billion excluding $765 million of special items, resulting in a net margin of 4.8 percent. On a GAAP basis, UAL reported full-year 2010 net income of $253 million.

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