POST Online Media Lite Edition



 

United Airlines Q4 total revenue $9.1 billion

Staff Writer |
United Airlines (UAL) announced its fourth-quarter and full-year 2016 financial results.

Article continues below






For the fourth quarter of 2016, total revenue was $9.1 billion, an increase of 0.2 percent year-over-year.

Fourth-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 1.6 percent and consolidated yield decreased 1.2 percent compared to the fourth quarter of 2015.

This outperformance versus the company's initial guidance was due to stronger close-in bookings and yields in November and December.

For the full-year 2016, consolidated PRASM declined 5.4 percent compared to the prior year driven by factors including a strong U.S. dollar, lower surcharges, reductions from energy-related corporate travel, and declining yields.

Total operating expense was $8.0 billion in the fourth quarter, up 1.2 percent year-over-year.

Excluding special charges, total operating expense was $8.1 billion, a 3.2 percent increase year-over-year. Consolidated unit cost (CASM) decreased 0.8 percent compared to the fourth quarter of 2015 due mainly to lower fuel expense.

Fourth-quarter consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, increased 4.1 percent year-over-year driven largely by the impact of labor agreements ratified in 2016.

For the full year, consolidated CASM decreased 2.9 percent compared to full-year 2015 due to lower fuel expense.

Excluding special charges, third-party business expenses, fuel and profit sharing, consolidated CASM increased 2.8 percent compared to the prior year due primarily to new labor agreements.


What to read next

American Airlines traffic declines 2.8% in August, capacity up 1.4%
United Airlines Q2 net income $846 million
United Airlines Q1 2016 total revenue down 4.8 percent