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United’s 4Q profits completely turned around in one year in part to higher fares, but also higher ancillary revenue, which jumped 15 percent to almost $21 per passenger last quarter.
The parent of United Airlines says fourth-quarter net income totaled $140 million as more passengers flew, and paid more for their tickets. The airline’s fuel bill also shrank.
United Continental Holdings Inc. earned $140 million, or 37 cents per share. A year earlier it lost $620 million, or $1.87 per share.
Not counting special charges, United would have earned 78 cents per share — well above the 66 cents expected by analysts surveyed by FactSet.
Revenue rose more than 7 percent to $9.33 billion, also higher than analysts had expected.
Passengers paid 3 percent more per mile to fly compared to a year earlier.
United said in November that it intends to cut $2 billion in annual costs. The company is still working to integrate Continental after their 2010 merger.
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