United Airlines reports $2.3bn profit for 2016

United Airlines reports $2.3bn profit for 2016

United Airlines has reported full-year net income of $2.3 billion, diluted earnings per share of $6.85, pre-tax earnings of $3.8 billion and pre-tax margin of 10.4 per cent.

Excluding special items, UAL reported full-year net income of $2.9 billion, diluted earnings per share of $8.65, pre-tax earnings of $4.5 billion and pre-tax margin of 12.2 percent. UAL reported fourth-quarter net income of $397 million, diluted earnings per share of $1.26, pre-tax earnings of $884 million and pre-tax margin of 9.8 per cent.

“Our fourth quarter financial and operating performance capped an outstanding year for United Airlines,” said Oscar Munoz, chief executive officer of United Airlines. “In 2016, we put into action our plan to become the best airline in the world, and last year’s results demonstrate we are on our way to achieving that ambition.

“We will continue delivering on this commitment by investing in our employees, elevating our customer experience and driving strong and consistent returns for our shareholders.” For the 12 months ended December 31st, 2016, the company’s return on invested capital was 19.3 per cent. “I am very pleased with core cost performance achieved in the fourth quarter and full-year 2016 where we kept non-fuel cost growth excluding new labour deals nearly constant,” said Andrew Levy, executive vice president and chief financial officer of United Airlines.

“I have great confidence we will achieve our cost efficiency targets outlined at our investor day as we look to offset rising fuel and labour costs.”

 

News Source: www.breakingtravelnews.com

You might also like

Aviation

Air India’s operational profit rises to Rs 215 crore in 2016-17

Air India’s operational profit rose to Rs 215 crore and net losses narrowed to Rs 3,643 crore in 2016-17, according to the government. Air India’s operational profit rose to Rs

Other Top Stories

ETIHAD INAUGURATES PIONEERING 2020 ECODEMONSTRATOR AIRCRAFT INTO SERVICE

Etihad Airways has officially inaugurated the pioneering 2020 ecoDemonstrator aircraft into commercial service at a special ceremony at the airline’s Abu Dhabi base, following a series of industry-leading test flights

Latest

Crowne Plaza opens in Jaipur

IHG launches its 10th Crowne Plaza property in India. Crowne Plaza is expanding its network by introducing its brand new property in the heart of ‘Pink city of India’ -Crowne