27-Sep-2013 9:19 AM

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]