United is 'transforming' and 'building a new airline', 1% capacity reduction forecast for 2013
- Broad, business-centric network: Mr North said the carrier has hubs in the four largest US cities and serves "the most destinations of any global carrier";
- Capacity discipline and business flexibility: Mr North said "maintaining capacity discipline is core to our long-term success". The carrier is now reducing capacity in response to the economic outlook with capacity (ASMs) forecast to decline 0.75% to 1.7% in 2012 and by 1% in FY2013;
- Strengthening the balance sheet. The carrier said its liquidity position is "solid". The carrier has USD4 billion of non-aircraft debt coming due through 2016;
- Investing in people, customers, products and technology;
- Growing high-margin businesses.
He also noted the carrier has "industry-leading unit revenue", and is "generating solid earnings despite elevated fuel prices". The carrier achieved its 10% return on invested capital (ROIC) goal in most recent twelve month period despite elevated fuel
prices. [more - original PR]