UAL Q1 Operating Revenues Up
For the first quarter of 2011, the company posted a net loss of $213m, compared to $82m for the same period in 2010.
Operating income for the first quarter of 2011 was $34m, compared to $76m for the same period in 2010. Total operating expenses were $8.16 billion, compared to $4.16 billion for the same period in 2010.
Consolidated revenue passenger miles (RPMs) for the first quarter of 2011 decreased one percent on a pro forma basis, while capacity (available seat miles or ASMs) increased 1.4 percent year-over-year on a pro forma basis, resulting in a first-quarter consolidated load factor of 78 percent.
Total consolidated expenses increased $825m, or 11.2 percent, compared to the pro forma results for the first quarter of 2010, of which $725m was due to higher fuel costs, excluding the impact of fuel hedges.
First-quarter 2011 consolidated expenses, excluding fuel, profit-sharing and special items, increased $187m, or 3.6 percent, year-over-year on a pro forma basis on 1.4 percent higher capacity.
First-quarter 2011 consolidated and mainline CASM increased 9.6 and 9.4 percent year-over-year on a pro forma basis, respectively.
Jeff Smisek, president and CEO of UAL, said: â€œMy co-workers did a great job running an on-time and efficient operation this past quarter, and I especially want to thank my co-workers who conducted our Japan operations, overcoming tremendous personal hardship to help our customers and keep our operation safe and reliable after the tragic earthquake and tsunami.
â€œWith our people, and the power of our network, product and fleet, United and Continental are much better positioned to manage through the current high-cost fuel environment as a combined carrier than either would have been as stand-alone carriers.â€
Will the firm further increase operating revenues in Q2?
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