United Airlines reports second-quarter 2013 net income of $521 million, excluding $52 million of special charges. Including special charges, UAL reported second-quarter 2013 net income of $469 million, an increase of 38 percent year-over-year. Highlights of United's performance include:
• UAL generated $10 billion of revenue in the second quarter of 2013, its highest ever second-quarter revenue result.
• Leading the U.S. airline industry in year-over-year passenger revenue per available seat mile (PRASM) growth for the second consecutive quarter, United's PRASM increased 1.0 percent in the second quarter compared to the second quarter of 2012.
• Second-quarter consolidated unit costs (CASM), holding fuel rate and profit sharing constant and excluding special charges and third-party business expense, increased 4.5 percent year-over-year on a consolidated capacity (available seat miles) reduction of 2.1 percent. Second-quarter consolidated CASM increased 0.7 percent year-over-year.
• UAL ended the second quarter with $7.0 billion in unrestricted liquidity.
"I am encouraged by the progress we made in the second quarter – in our operations, in our customer service and in our financial performance," said Jeff Smisek, chairman, president and chief executive officer. "I'd like to thank my co-workers for working together as we build the world's leading airline."
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