United Airlines operating profit down 12% in 1Q2016

United Airlines revenue down 5% - financial highlights for three months ended 31-Mar-2016:

• Total operating revenue: USD8195 million, -4.8% year-on-year;
• • Passenger: USD6990 million, -5.8%;
  • Cargo: USD194 million, -19.8%;
• Total operating costs: USD7546 million, -4.1%;
• • Labour: USD2490 million, +8.2%;
  • Fuel: USD1218 million, -34.7%;
• Operating profit: USD649 million, -12.4%;
• Net profit: USD313 million, -38.4%;
• Passenger numbers: 32.1 million, +1.8%;
• • Mainline: 22.3 million, +4.2%;
  • Regional: 9.8 million, -3.3%;
• Passenger load factor: 79.9%, -1.2 ppt;
• • Mainline: 79.9%, -1.2 ppt;
  • • Domestic: 83.4%, -1.0 ppt;
    • International: 76.5%, -1.6 ppt;
  • Regional: 80.6%, -0.4 ppt;
• Total revenue per ASM: USD 14.06 cents, -6.5%;
• Passenger revenue per ASM: USD 12.00 cents, -7.4%;
• • Mainline: USD 10.90 cents, -8.0%;
  • Regional: USD 19.88 cents, -4.1%;
• Yield: USD 15.01 cents, -6.1%;
• • Mainline: USD 13.65 cents, -6.5%;
  • Regional: USD 24.68 cents, -3.7%;
• Average stage length: 1461 miles, -0.8%;
• • Mainline: 1859 miles, -3.0%;
  • Regional: 575 miles, +2.5%. [more - original PR]

United Airlines: "For the first quarter of 2016, total revenue was US$8.2 billion, a decrease of 4.8 percent year-over-year. First-quarter 2016 consolidated passenger revenue per available seat mile (PRASM) decreased 7.4 percent and consolidated yield decreased 6.1 percent compared to the first quarter of 2015. The decline in PRASM continues to be driven by economic factors including a strong U.S. dollar and lower oil prices. In addition, the company experienced a larger-than-anticipated decrease in close-in business travel during the weeks surrounding the Easter holiday and spring break." Source: Company statement, 20-Apr-2016.