United Airlines reports second-quarter 2018 performance

Eleanor Steed
By Eleanor Steed July 19, 2018 16:15

United Airlines reports second-quarter 2018 performance

United Airlines (UAL) has reported second-quarter net income of $684 million, diluted earnings per share of $2.48, pre-tax earnings of $857 million and pre-tax margin of 8.0 percent. Excluding special charges and mark-to-market adjustments, UAL reported second-quarter net income of $889 million, diluted earnings per share of $3.23, pre-tax earnings of $1.1 billion and pre-tax margin of 10.4 percent.

Consolidated passenger revenue per available seat mile (PRASM) increased 3.0 percent year-over-year. Consolidated total revenue per available seat mile (TRASM) increased 2.8 percent year-over-year. Consolidated unit cost per available seat mile (CASM) increased 7.1 percent year-over-year. Consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, decreased 0.4 percent year-over-year.

UAL now expects full-year 2018 diluted earnings per share, excluding special charges and mark-to-market adjustments, to be $7.25 to $8.751.

“We delivered great financial results and strong operational performance in the second quarter despite the significant headwind of higher fuel prices,” said Oscar Munoz, chief executive officer of United Airlines. “These results are the strongest evidence yet that our strategic growth plan is working, and we are well positioned to carry our momentum into the second half of the year.”

Eleanor Steed
By Eleanor Steed July 19, 2018 16:15