United Continental Holdings: Bookings increase, PRASM to be up 2.5% to 3.5% in 3Q2013

United Continental Holdings issued (26-Sep-2013) an investor update with the following highlights for 3Q2013:

• ASM guidance:
• • 3Q2013: -1.1% year-on-year (y-o-y);
  • 3Q2013 domestic: -1.6% y-o-y;
  • 3Q2013 international: -0.3% y-o-y;
• Revenue guidance:
• • PRASM: +2.5% to 3.5% y-o-y;
  • Cargo: USD1.28 billion to USD1.33 billion;
• Advanced booking seat factor (For the next six weeks, against the same six week period in 2012):
• • Mainline domestic: +1.1%;
  • Mainline international: +0.9%;
  • Mainline Atlantic: +3.4%;
  • Mainline Pacific: -1.7%;
  • Mainline Latin America: +0.3%;
  • Regional: +1.6%;
• CASM ex-fuel and third-party business expense: +6.4% to 7.4% y-o-y;
• • The carrier expects to record approximately USD220 million of third-party business expense in 3Q2013;
• 3Q2013 estimated fuel cost: USD3.08 per gallon;
• 3Q2013 non-operating expense: USD115 million to USD145 million;
• 3Q2013 capex guidance:
• • Gross capex: USD620 million;
  • Net capex: USD500 million;
• 3Q2013 debt and capital lease payments: USD250 million;
• Liquidity: Carrier expects to end 3Q2013 with approximately USD6.6 billion in unrestricted liquidity, comprised of USD5.6 billion of unrestricted cash, cash equivalents and short-term investments and USD1 billion in undrawn commitments under its revolving credit facility. [more - original PR]