United posts US$1 billion profit in 2013

TD Guest Writer

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United continued its fleet renewal programme in 2013 (photo by Songquan Deng)
United continued its fleet renewal programme in 2013 (photo by Songquan Deng)

United Airlines has posted a strong US$1.08 billion net profit for 2013.

The world’s second biggest airline, in terms of passenger traffic, managed to boost its annual net profits by 84% compared to 2012. This result was driven by 3% rise in revenues, to US$38.28bn, and a 6% reduction in fuel costs, which fell to US$12.35bn.

“We significantly improved our operations, customer service and financial results in 2013 thanks to the outstanding work of the United team,” said Jeff Smisek, United’s chairman, president & CEO. “Our goals for 2014 are to provide even more reliable operations, great customer service and materially better financial performance.”

United carried 139.2m passengers last year, 0.9% fewer than 2012, but the airline’s available seat capacity was reduced by 1.4%, allowing United to increase average load factors by one percentage point, to 83.6%.

United also continued its fleet renewal programme in 2013, taking delivery of two more Boeing 787-8 Dreamliners and 24 B737-900ERs. It also retired 23 B757-200s and the last of its Boeing 737-500s and Boeing 767-200s.

Klook.com

EXPERT OPINION

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