United Continental Holdings, Inc. (UAL) reports third-quarter 2012 net income of $520 million, excluding $514 million of net special charges. Including special charges, UAL reported third-quarter 2012 net income of $6 million.
UAL said its third-quarter consolidated passenger revenue decreased 2.6 percent year-over-year. Third-quarter consolidated passenger revenue per available seat mile (PRASM) decreased 1.3 percent compared to the same period in 2011.
UAL ended the third quarter with $7.2 billion in unrestricted liquidity, the airline reports.
Jeff Smisek, UAL's president and chief executive officer commented: "We overcame tough operational challenges and remain focused on running a reliable airline, delivering to our customers the benefits of our product investments and delivering to our co-workers tools and training to provide good customer service."
During the quarter, United reports the launch of service from Newark to Istanbul. In addition, the carrier launched service from San Francisco to Raleigh-Durham, N.C., from Denver to Shreveport, La., and from Newark to Columbia, S.C. United also announced 12 new routes during the quarter, including flights from its San Francisco hub to Taipei, Taiwan, and Paris, as well as from Washington, D.C. to San Salvador, from Cleveland to Nashville and from Chicago to Monterrey, Mexico, Thunder Bay, Canada, and Nassau, Bahamas.
United said its Economy Plus seating is now on 90 percent of United's entire mainline fleet, and the company continues to install flat-bed seats in premium cabins on its international fleet.
United said it now has 159 aircraft featuring flat-bed seats, more than any other U.S. carrier.