United expects first profit since 2000

25th Jul 2006

United Airlines parent UAL Corp. confirmed it made its first profit in six years in the second quarter, an expected $119 million gain that beat Wall Street’s expectations but fell short of other U. S. airline companies.According to AFX news wire, higher fares and packed planes helped the company post double-digit operating revenue growth in its first full quarter out of bankruptcy, and cost controls improved the bottom line.

Based on the preliminary results announced by the company a week ahead of its formal earnings report, it will be UAL’s first result in the black since a $408 million profit in the second quarter of 2000. That also was its last profitable year before high costs, management missteps and the 2001 terrorist attacks forced it into bankruptcy.



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