United Airlines (NYSE: UAL) has reported third-quarter 2016 net income of USD965 million, the company said.
For the third quarter of 2016, total revenue was USD9.9 billion, a decrease of 3.8 percent year-over-year. Third-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 5.8 percent and consolidated yield decreased 5.7 percent compared to the third quarter of 2015.
Total operating expense in the third quarter 2016 including special charges was USD8.3 billion in the third quarter, down 1.4 percent year-over-year. Excluding special charges, total operating expense was USD8.2 billion, a 1.0 percent improvement year-over-year.
In the third quarter, UAL generated USD1.1 billion in operating cash flow and ended the quarter with USD6.2 billion in unrestricted liquidity, including USD1.35 billion of undrawn commitments under its revolving credit facility. The company continued to invest in its business through capital expenditures of USD689 million in the third quarter.
United Airlines and United Express operate more than 4,500 flights a day to 339 airports across five continents. In 2015, United and United Express operated more than 1.5 million flights carrying more than 140 million customers.