United Continental Holdings, Inc. announces a 2011 and 4Q 2011 profit

United Continental Holdings, Inc. (Chicago) today reported full-year 2011 net income of $1.3 billion or $3.49 per diluted share, excluding $483 million of special items consisting primarily of integration-related costs. Including special items, UAL reported full-year 2011 net income of $840 million or $2.26 per diluted share. UAL reported fourth-quarter net income of $109 million or $0.30 per diluted share, excluding $247 million of special items. Including special items, UAL reported a fourth-quarter 2011 net loss of $138 million or $0.42 loss per share.

UAL 2011 consolidated passenger revenue increased 9.0 percent compared to the pro forma results for 2010. Consolidated passenger revenue per available seat mile (PRASM) increased 9.2 percent in 2011 compared to the pro forma results for 2010.

UAL consolidated passenger revenue increased 5.6 percent in the fourth quarter compared to the same period in 2010. Fourth-quarter 2011 consolidated PRASM increased 8.2 percent year-over-year.

Consolidated fuel expense for 2011, excluding the impact of hedges, increased 36.5 percent, or $3.4 billion, year-over-year on a pro forma basis.

UAL ended 2011 with $8.3 billion in unrestricted cash, cash equivalents and short term investments and undrawn lines of credit.
Co-workers earned $265 million in profit sharing for full-year 2011, which will be distributed on Feb. 14, 2012.

The consolidated network operated more than two million flights and had 142 million passengers in 2011, carrying the most traffic of any airline in the world.

Copyright Photo: Michael B. Ing.

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