United Continental Holdings reports a large third quarter net profit

United Continental Holdings, Inc. (Chicago) (United Airlines and Continental Airlines) today reported third-quarter 2011 net income of $773 million or $2.00 per diluted share, excluding $120 million of net special items consisting primarily of integration-related costs. On a GAAP basis, UAL reported third-quarter 2011 net income of $653 million or $1.69 per diluted share.

UAL results for the third 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 included only the financial results of United. Pro forma results that consolidate the financial results for Continental for the third-quarter 2010 and nine months ended Sept. 30, 2010, are included for meaningful year-over-year comparisons.

Both airlines are moving ahead towards a single operating AOC with November 11 being the target date.

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Copyright Photo: Jay Selman.