United Continental Holdings reports fourth-quarter and full-year 2010 results

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.