United Airlines (UAL) has announced its fourth-quarter and full-year 2017 financial results, the company said.
UAL reported fourth-quarter net income of USD 580 million, diluted earnings per share of USD 1.99, pre-tax earnings of USD 600 million and pre-tax margin of 6.4 percent.
Excluding special charges and income tax adjustments, UAL reported fourth-quarter net income of USD 408 million, diluted earnings per share of USD 1.40, pre-tax earnings of USD 631 million and pre-tax margin of 6.7 percent.
UAL reported full-year net income of USD 2.1 billion, diluted earnings per share of USD 7.02, pre-tax earnings of USD 3.0 billion and pre-tax margin of 7.9 percent. Excluding special charges and income tax adjustments, UAL reported full-year net income of USD 2.1 billion, diluted earnings per share of USD 6.76, pre-tax earnings of USD 3.2 billion and pre-tax margin of 8.4 percent.
UAL repurchased USD 553 million of its common shares in the fourth quarter, bringing the full-year share repurchases to USD 1.8 billion and completing the company´s July 2016 USD 2 billion share repurchase program. The company´s board of directors authorized a new USD 3 billion share repurchase program in December.
During 2017, United consistently notched operational bests in on-time arrivals and completions while seeing the fewest cancellations and the best baggage performance in company history.
For the fourth quarter of 2017, revenue was USD 9.4 billion, an increase of 4.3 percent year-over-year. Fourth-quarter 2017 consolidated passenger revenue per available seat mile (PRASM) was up 0.2 percent compared to the fourth quarter of 2016. Cargo revenue was USD 304 million in the fourth quarter of 2017, an increase of 21.6 percent year-over-year primarily due to higher international freight volume and yields. For the full year of 2017, total revenue was USD 37.7 billion, an increase of 3.2 percent year-over-year.
United Airlines and United Express operate approximately 4,500 flights a day to 338 airports across five continents. In 2017, United and United Express operated more than 1.6 million flights carrying more than 148 million customers. United is proud to have the world´s most comprehensive route network, including US mainland hubs in Chicago, Denver, Houston, Los Angeles, Newark/New York, San Francisco and Washington, D.C. United operates 744 mainline aircraft and the airline´s United Express carriers operate 518 regional aircraft. The airline is a founding member of Star Alliance, which provides service to 191 countries via 28 member airlines. For more information, visit united.com.