United Announces Second-Quarter 2013 Profit

united airlinesUnited 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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