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United Airlines reported 99% better results

Staff writer |
United Airlines (UAL) reported third-quarter 2014 net income of $1.1 billion, or $2.75 per diluted share, excluding $151 million of special items, its highest-ever quarterly profit and an increase of 99 percent year-over-year.

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Including special items, UAL reported third-quarter 2014 net income of $924 million, or $2.37 per diluted share.

United's consolidated passenger revenue per available seat mile (PRASM) increased 3.9 percent in the third quarter of 2014 compared to the third quarter of 2013.

Third-quarter 2014 consolidated unit costs (CASM), excluding special charges, third-party business expenses, fuel and profit sharing, increased 1.0 percent year-over-year on a consolidated capacity increase of 0.5 percent. Third-quarter 2014 CASM, including those items, decreased 4.0 percent year-over-year.

UAL ended the third quarter with $6.9 billion in unrestricted liquidity.

The company earned a 12.3 percent return on invested capital for the 12 months ended Sept. 30, 2014.

United returned $220 million to shareholders as part of its previously announced $1 billion share buyback program.


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