United Continental Holdings, Inc. reported full-year 2012 net income of $589 million, excluding $1.3 billion of special charges. Including special charges, UAL reported a full-year 2012 net loss of $723 million.
UAL reported a fourth-quarter 2012 net loss of $190 million, excluding $430 million of special charges. Including special charges, UAL reported a fourth-quarter 2012 net loss of $620 million.
Noting that the airline had completed the most difficult aspects of its merger integration with Continental, Jeff Smisek, UAL's chairman, president and chief executive officer commented: "With much of our integration behind us, our significantly improved operational performance and our increasing customer satisfaction, we can now go forward as one company. This year we will continue on our path to becoming the world's leading airline."
For the fourth quarter of 2012, total revenue was $8.7 billion, a decrease of 2.5 percent year-over-year. Fourth-quarter consolidated passenger revenue decreased 3.6 percent to $7.5 billion, compared to the same period in 2011.
"While we didn't meet our revenue goals in 2012, we have addressed the integration issues that drove our underperformance," said Jim Compton, UAL's vice chairman and chief revenue officer. "We're now positioned to capitalize on market opportunities across our network, and to earn back our share of revenue, based on solid operations and great customer service."
For the fourth quarter, United recorded a domestic on-time arrival rate of 80.1 percent, exceeding its goal for the quarter. Visit www.United.com