UAL Corp.'s (UAUA) profit soared as the United Airlines parent
saw a key revenue metric surge.
The carrier, like much of the industry, has seen recent
performance numbers improve from last year's woeful levels. It
faces a regulatory maze and other challenges in its bid to merge
with Continental Airlines (CAL) and create the world's largest
airline.
UAL posted a profit of $273 million, or $1.29 a share, up from
$28 million, or 19 cents a share, a year earlier. Excluding items
such as hedge gains and accounting charges, the results swung to
profit of $1.95 from a year-earlier loss of $2.21. Revenue jumped
28% to $5.16 billion.
Revenue per available seat mile, a key industry measurement,
jumped 28% at namesake operations after falling 20% a year ago.
Fuel costs jumped 80%.
UAL reported earlier this month traffic at namesake operations
rose 1.4% while load factor -- the percentage of seats filled --
increased to 85% from 82.5% and capacity dropped 1.6%.
The shares closed Monday at $21.18.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240,
matthew.jarzemsky@dowjones.com