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United Airlines Q1 2016 total revenue down 4.8 percent

Staff writer |
United Airlines reported its first-quarter 2016 financial results. Total revenue was $8.2 billion, a decrease of 4.8 percent year-over-year.

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First-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 7.4 percent and consolidated yield decreased 6.1 percent compared to the first quarter of 2015.

The decline in PRASM continues to be driven by economic factors including a strong U.S. dollar and lower oil prices. In addition, the company experienced a larger-than-anticipated decrease in close-in business travel during the weeks surrounding the Easter holiday and spring break.

Total operating expense excluding special charges was $7.4 billion in the first quarter, down 5.7 percent year-over-year.

Including special charges, total operating expense was $7.5 billion, a 4.1 percent decrease year-over-year. The decrease was largely driven by lower oil prices.

Consolidated unit cost (CASM), excluding special charges, third-party business expenses, fuel and profit sharing, increased 1.3 percent compared to the first quarter of 2015. Consolidated CASM including those items decreased 5.7 percent year-over-year.

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