Significant Q4 losses for United Continental
Jan. 24, 2013, Chicago, Il. - The parent company of United Airlines is reporting a $620 million loss in the fourth quarter as passengers stayed away following its problems earlier in the year with integrating Continental.
It posted a full-year loss of $723 million, almost wiping out its $840 million profit from 2011.
The fourth-quarter loss worked out to $1.87 per share. Excluding special items, the loss would have been 58 cents per share, matching expectations of analysts surveyed by FactSet.
Superstorm Sandy in the U.S. Northeast cut $85 million from profits in 2012's final quarter.
United's struggles with technology issues, tied to the Continental integration, helped cause traffic to fall 3.2 per cent
in the fourth quarter.
A year ago, United Continental Holdings Inc. lost $138 million, or 42 cents per share.