United Airlines (UAL) has reported its first-quarter 2018 financial results. UAL reported first-quarter net income of US$147m, pre-tax earnings of US$184m and pre-tax margin of 2.0%.
Excluding special charges and mark-to-market adjustments, UAL reported first-quarter net income of US$143m, pre-tax earnings of US$179m and pre-tax margin of 2.0%.
UAL has repurchased US$747m of its common shares year-to-date through April 16, 2018, representing approximately 4% of its shares outstanding as of year-end 2017.
Consolidated passenger revenue per available seat mile (PRASM) increased 2.7% year-over-year.
Consolidated total revenue per available seat mile (TRASM) increased 3.4% year-over-year.
Consolidated unit cost per available seat mile (CASM) increased 4.3% year-over-year.
First-quarter consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, increased 0.6% year-over-year.
UAL now expects full-year 2018 diluted earnings per share, excluding special charges and mark-to-market adjustments, to be $7.00 to $8.501.
