United Airlines net income $4.5 billion, $11.88 per share
Including special items, UAL reported full-year net income of $7.3 billion. These results include a nonrecurring $3.1 billion non-cash benefit associated with the reversal of the company's income tax valuation allowance.
UAL reported fourth-quarter net income of $934 million, or $2.54 per diluted share, excluding special items. Including special items, UAL reported fourth-quarter net income of $823 million.
UAL announced reached an agreement to acquire 40 new Boeing 737-700 aircraft which will enter the fleet beginning in mid-2017, replacing a portion of the capacity currently operated by regional partners. Employees earned a record $698 million in profit sharing for full-year 2015.
For the fourth quarter of 2015, total revenue was $9 billion, a decrease of 3 percent year-over-year. Fourth-quarter 2015 consolidated PRASM decreased 6 percent and consolidated yield decreased 7.2 percent compared to the fourth quarter of 2014.
For the full-year 2015, consolidated PRASM declined 4.4 percent versus the prior year. The declines in PRASM and yield were driven largely by a strong U.S. dollar, lower surcharges, travel reductions from customers impacted by declining oil prices and softening domestic and international yields.
Passenger revenue for the fourth quarter and full year of 2015 and period-to-period comparisons of related statistics for UAL's mainline and regional operations are included in the tables in the back of this document. ■