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UNITED ANNOUNCES FULL-YEAR AND
FOURTH-QUARTER 2012 RESULTS
UAL REPORTS $589 MILLION FULL-YEAR 2012 PROFIT EXCLUDING SPECIAL CHARGES;
$723 MILLION LOSS INCLUDING SPECIAL CHARGES
UAL REPORTS $190 MILLION FOURTH-QUARTER 2012 LOSS EXCLUDING SPECIAL
CHARGES; $620 MILLION LOSS INCLUDING SPECIAL CHARGES
CHICAGO, Jan. 24, 2013 United Continental Holdings, Inc. (NYSE: UAL) today reported full-year 2012 net income of $589 million, or $1.59 per diluted share, excluding $1.3 billion of special charges. Including special charges, UAL reported a full-year 2012 net loss of $723 million, or $2.18 per share. UAL reported a fourth-quarter 2012 net loss of $190 million, or $0.58 per share, excluding $430 million of special charges. Including special charges, UAL reported a fourth-quarter 2012 net loss of $620 million, or $1.87 per share.
UAL full-year 2012 consolidated passenger revenue increased 0.2 percent year-over-year. Consolidated passenger revenue per available seat mile (PRASM) increased 1.7 percent in 2012 compared to 2011.
Superstorm Sandy reduced fourth-quarter revenue by approximately $140 million and profit by approximately $85 million.
Full-year 2012 consolidated unit costs (CASM), holding fuel rate and profit sharing constant and excluding special charges and third-party business expense, increased 2.5 percent year-over-year on a consolidated capacity reduction of 1.5 percent. Full-year 2012 consolidated CASM increased 6.7 percent year-over-year.
UAL ended 2012 with $7.0 billion in unrestricted liquidity.
Co-workers earned $119 million in profit sharing for full-year 2012, which will be distributed on Feb. 14, 2013.
I want to thank my co-workers for working together in 2012 as we completed the most difficult aspects of our merger integration, said Jeff Smisek, UALs chairman, president and chief executive officer. With much of our integration behind us, our significantly improved operational performance and our increasing customer satisfaction, we can now go forward as one company. This year we will continue on our path to becoming the worlds leading airline.
The following information was filed by United Air Lines, Inc. on Thursday, January 24, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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