UAL Corp. (UAUA, Financial) filed Quarterly Report for the period ended 2012-06-30.
United Continental Holdings Inc has a market cap of $1.49 billion; its shares were traded at around $0 .
Consolidated passenger revenue in the second quarter of 2012 increased 2.3% as compared to the year-ago period primarily due to increased pricing as consolidated average fare per passenger and yield increased by 2.1% and 1.8%, respectively. The average fare per passenger increased in the 2012 period as compared to the 2011 period due to a number of fare increases implemented in response to fuel price volatility. Passenger revenue results for the Pacific region for the second quarter of 2012 include insurance proceeds from a business interruption claim from the 2011 Japan earthquake and tsunami. This increased year-over-year consolidated PRASM by approximately 0.3%.
United had operating income of $84 million and an operating loss of $224 million in the second quarter and first six months of 2012, respectively, as compared to operating income of $437 million and $445 million in the second quarter and first six months of 2011, respectively. As compared to the second quarter of 2011, Uniteds consolidated revenue decreased $95 million, or 1.7%, to $5.5 billion for the three months ended June 30, 2012. These decreases are due to a decline in cargo revenue in the second quarter and a one-time special revenue item in 2011. Uniteds consolidated revenue was flat for the six months ended June 30, 2012 as compared to the year-ago period.
Distribution expenses decreased $27 million, or 13.6%, in the second quarter of 2012 as compared to the year-ago period, and decreased $32 million, or 8.3%, in the first six months of 2012 as compared to 2011. These decreases are primarily due to lower credit card discount fees driven by legislation reducing costs on debit card sales and lower rates on global distribution systems fees paid in 2012 as compared to 2011.
Continentals operating income in the second quarter and first six months of 2012 were $494 million and $534 million, respectively, as compared to operating income of $374 million and $403 million, respectively, in the second quarter and first six months of 2011. As compared to the second quarter of 2011, Continentals consolidated revenue increased $304 million, or 7.1%, to $4.6 billion for the three months ended June 30, 2012. These improvements were largely due to year-over-year capacity discipline, which in turn resulted in higher fares, stronger yields and increased traffic, as compared to the same period in 2011. Similarly, Continentals consolidated revenue increased $668 million, or 8.5%, to $8.5 billion for the six months ended June 30, 2012 as compared to the year-ago period.
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United Continental Holdings Inc has a market cap of $1.49 billion; its shares were traded at around $0 .
Highlight of Business Operations:
In order to generate sustained profitability over the business cycle, the Company manages its capacity to balance with expected demand for travel. The Company plans to reduce 2012 consolidated capacity by reducing flight frequencies, indefinitely postponing the start of flights to certain markets and exiting less profitable markets. As compared to 2011 capacity, the Company expects full-year 2012 consolidated capacity to be down 0.5% to 1.5% year-over-year, with full-year 2012 domestic capacity to be down 1.5% to 2.5% and full-year 2012 international capacity to be down 0.3% to up 0.7%. The Company is also analyzing the removal of certain less fuel-efficient aircraft from its fleet and other cost-saving measures.Consolidated passenger revenue in the second quarter of 2012 increased 2.3% as compared to the year-ago period primarily due to increased pricing as consolidated average fare per passenger and yield increased by 2.1% and 1.8%, respectively. The average fare per passenger increased in the 2012 period as compared to the 2011 period due to a number of fare increases implemented in response to fuel price volatility. Passenger revenue results for the Pacific region for the second quarter of 2012 include insurance proceeds from a business interruption claim from the 2011 Japan earthquake and tsunami. This increased year-over-year consolidated PRASM by approximately 0.3%.
United had operating income of $84 million and an operating loss of $224 million in the second quarter and first six months of 2012, respectively, as compared to operating income of $437 million and $445 million in the second quarter and first six months of 2011, respectively. As compared to the second quarter of 2011, Uniteds consolidated revenue decreased $95 million, or 1.7%, to $5.5 billion for the three months ended June 30, 2012. These decreases are due to a decline in cargo revenue in the second quarter and a one-time special revenue item in 2011. Uniteds consolidated revenue was flat for the six months ended June 30, 2012 as compared to the year-ago period.
Distribution expenses decreased $27 million, or 13.6%, in the second quarter of 2012 as compared to the year-ago period, and decreased $32 million, or 8.3%, in the first six months of 2012 as compared to 2011. These decreases are primarily due to lower credit card discount fees driven by legislation reducing costs on debit card sales and lower rates on global distribution systems fees paid in 2012 as compared to 2011.
Continentals operating income in the second quarter and first six months of 2012 were $494 million and $534 million, respectively, as compared to operating income of $374 million and $403 million, respectively, in the second quarter and first six months of 2011. As compared to the second quarter of 2011, Continentals consolidated revenue increased $304 million, or 7.1%, to $4.6 billion for the three months ended June 30, 2012. These improvements were largely due to year-over-year capacity discipline, which in turn resulted in higher fares, stronger yields and increased traffic, as compared to the same period in 2011. Similarly, Continentals consolidated revenue increased $668 million, or 8.5%, to $8.5 billion for the six months ended June 30, 2012 as compared to the year-ago period.
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