United Continental Holdings, Inc. (Chicago) announced plans to launch service on several new nonstop routes in 2011 as it begins to optimize the combined route networks of United Airlines and Continental Airlines. Even with these new route additions, operated by a mix of mainline and regional aircraft, United and Continental will remain within previously announced capacity guidance.
Continental will add new flights between Houston’s Bush Intercontinental Airport and Bakersfield and Palm Springs, Calif.; Cedar Rapids, Iowa; Grand Junction, Colo.; Hobbs, N.M.; Montreal; and Reno, Nev. From Cleveland Hopkins International, Continental will begin flights to Cincinnati, Ohio, and from New York/Newark Liberty, the carrier will begin service to Des Moines, Iowa.
United plans new service from Washington Dulles International Airport to Louisville, Ky.; Minneapolis/St. Paul; Salt Lake City; Tulsa, Okla. and Grand Cayman in the Cayman Islands, subject to government approval. United will also start new service from Denver International Airport to Amarillo, Dallas Love Field and Lubbock, Texas; from Los Angeles to Austin, Texas and from San Francisco International Airport to New Orleans.
On the financial side, United Continental Holdings, Inc. announced individual third quarter 2010 financial results for United Airlines and Continental Airlines. On Ocober 1, a wholly owned subsidiary of United Continental Holdings, Inc., formerly UAL Corporation, merged with Continental Airlines, Inc. Financial results for United and Continental will be combined when the company reports fourth quarter 2010 results.
United reported third quarter 2010 net income of $473 million or $2.12 diluted earnings per share excluding certain special items, an improvement of $533 million year-over-year. On a GAAP basis, United reported third quarter net income of $387 million.
Continental reported third quarter 2010 net income of $367 million or $2.24 diluted earnings per share excluding certain special items, an improvement of $365 million year-over-year. On a GAAP basis, Continental reported third quarter net income of $354 million.
United Continental Holdings, Inc. is the new holding company for both United Airlines and Continental Airlines. Together with United Express, Continental Express and Continental Connection, these airlines operate a total of approximately 5,800 flights a day to 371 airports on six continents from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York/Newark Liberty, San Francisco, Tokyo and Washington, D.C. United and Continental are members of Star Alliance, which offers more than 21,200 daily flights to 1,172 airports in 181 countries worldwide through its 28 member airlines.
Copyright Photo: James Helbock. Please click on the photo for additional details.