United announces third-quarter 2012 profit

United Continental Holdings reported third-quarter 2012 net income of $520m, excluding $514m of net special charges. Including special charges, UAL reported third-quarter 2012 net income of $6m. UAL third-quarter consolidated passenger revenue decreased 2.6% year-over-year. Third-quarter consolidated passenger revenue per available seat mile (PRASM) decreased 1.3% compared to the same period in 2011. Consolidated unit costs (CASM) holding fuel rate and profit sharing constant and excluding special charges and third-party business expense increased 2.5% year-over-year on a consolidated capacity reduction of 1.4%. Third-quarter consolidated CASM increased 6.6% year-over-year. UAL ended the third quarter with $7.2bn in unrestricted liquidity.