UAL reported fourth-quarter 2010 net income of $160 million excluding $485 million of special items consisting primarily of merger-related costs and other special charges, an improvement of $347 million compared to the pro forma results year-over-year. On a GAAP basis, UAL reported fourth-quarter net loss of $325 million. UAL reported pro forma full-year 2010 net income of $1.6 billion excluding $765 million of special items, resulting in a net margin of 4.8%. On a GAAP basis, UAL reported full-year 2010 net income of $253 million. UAL consolidated passenger revenue increased 15.8% in the fourth quarter of 2010 compared to the pro forma results for the same period in 2009. Fourth-quarter 2010 consolidated passenger revenue per available seat mile (PRASM) increased 11.5% compared to the pro forma results year-over-year. UAL ended the year with $8.7 billion in unrestricted cash, cash equivalents and short-term investments.
Up to 26,000 jobs secured in Spain until 2060 with latest Eurofighter contracts
A recent study by Pricewaterhouse Coopers (PWC) shows clear indications that two Eurofighter programme contracts will secure up to 26,000 jobs in Spain. The study was funded by Airbus and took six months to complete. The report focuses on the economic impact of the ‘Halcon’ and ‘Quadriga’ contracts which are relevant to Spain. The report