United Airlines posts 3rd-quarter net income of US$836 million

United Airlines released its third-quarter 2018 financial results, reporting third-quarter net income of US$836 million, pre-tax earnings of US$1.1 billion and pre-tax margin of 9.6%.

Consolidated passenger revenue per available seat mile (PRASM) increased 6.1% year-over-year, above the high end of the company’s third-quarter 2018 guidance range of up 4% to 6%. Consolidated unit cost per available seat mile (CASM) increased 6.4% year-over-year. Consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, decreased 0.4 percent year-over-year. UAL’s mid-continent hubs in Chicago, Denver and Houston had year-over-year capacity growth of 9.7% in the third quarter and led the system in unit revenue growth performance in the quarter.

UAL now expects full-year 2018 adjusted diluted earnings per share to be US$8.00 to US$8.75. The company currently expects to recapture approximately 90% of the estimated US$2.5 billion year-over year increase in full-year 2018 fuel expense.

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