United Airlines (UAL) Load Factor Rose 0.5 Points in July 2016

August 8, 2016 4:45 PM EDT
Get Alerts UAL Hot Sheet
Trade UAL Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

United Airlines (UAL) today reported July 2016 operational results.

UAL's July 2016 consolidated traffic (revenue passenger miles) increased 1.2 percent and consolidated capacity (available seat miles) increased 0.7 percent versus July 2015. UAL's July 2016 consolidated load factor increased 0.5 points compared to July 2015.

The company continues to expect third-quarter 2016 consolidated passenger unit revenue to decline 5.5 to 7.5 percent compared to the third quarter of 2015. The year-over-year performance is primarily impacted by demand growth not keeping pace with capacity growth, declining close-in yields, lower surcharges, competitive actions and travel reductions in the energy sector.

About United

United Airlines and United Express operate more than 4,500 flights a day to 339 airports across five continents. In 2015, United and United Express operated more than 1.5 million flights carrying more than 140 million customers. United is proud to have the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates more than 720 mainline aircraft, and this year, the airline anticipates taking delivery of 21 new Boeing aircraft, including 737 NGs, 787s and 777s. The airline is a founding member of Star Alliance, which provides service to 192 countries via 28 member airlines. For more information, visit united.com, follow @United on Twitter or connect on Facebook. The common stock of United's parent, United Continental Holdings, Inc., is traded on the NYSE under the symbol UAL.

Preliminary Operational Results

July

Year-to-Date

2016

2015

Change

2016

2015

Change

REVENUE PASSENGER MILES (000)

Domestic

9,100,554

9,084,764

0.2%

54,235,177

53,630,825

1.1%

International

9,421,736

9,127,005

3.2%

52,984,654

53,099,860

(0.2%)

Atlantic

4,070,506

4,148,144

(1.9%)

20,469,285

21,460,197

(4.6%)

Pacific

3,197,578

2,996,672

6.7%

19,574,484

19,630,885

(0.3%)

Latin

2,153,652

1,982,189

8.7%

12,940,885

12,008,778

7.8%

Mainline

18,522,290

18,211,769

1.7%

107,219,831

106,730,685

0.5%

Regional

2,187,434

2,250,812

(2.8%)

14,088,570

14,465,377

(2.6%)

Consolidated

20,709,724

20,462,581

1.2%

121,308,401

121,196,062

0.1%

AVAILABLE SEAT MILES (000)

Domestic

10,263,338

10,222,420

0.4%

63,251,200

62,270,345

1.6%

International

10,882,677

10,651,412

2.2%

66,511,799

65,776,813

1.1%

Atlantic

4,862,537

4,826,553

0.7%

27,436,530

27,384,124

0.2%

Pacific

3,617,618

3,561,769

1.6%

23,674,812

23,808,178

(0.6%)

Latin

2,402,522

2,263,090

6.2%

15,400,457

14,584,511

5.6%

Mainline

21,146,015

20,873,832

1.3%

129,762,999

128,047,158

1.3%

Regional

2,525,271

2,635,612

(4.2%)

16,906,548

17,415,958

(2.9%)

Consolidated

23,671,286

23,509,444

0.7%

146,669,547

145,463,116

0.8%

PASSENGER LOAD FACTOR

Domestic

88.7%

88.9%

(0.2) pts

85.7%

86.1%

(0.4) pts

International

86.6%

85.7%

0.9 pts

79.7%

80.7%

(1.0) pt

Atlantic

83.7%

85.9%

(2.2) pts

74.6%

78.4%

(3.8) pts

Pacific

88.4%

84.1%

4.3 pts

82.7%

82.5%

0.2 pts

Latin

89.6%

87.6%

2.0 pts

84.0%

82.3%

1.7 pts

Mainline

87.6%

87.2%

0.4 pts

82.6%

83.4%

(0.8) pts

Regional

86.6%

85.4%

1.2 pts

83.3%

83.1%

0.2 pts

Consolidated

87.5%

87.0%

0.5 pts

82.7%

83.3%

(0.6) pts

ONBOARD PASSENGERS (000)

Mainline

9,674

9,280

4.2%

57,590

55,516

3.7%

Regional

3,818

3,993

(4.4%)

24,405

25,510

(4.3%)

Consolidated

13,492

13,273

1.6%

81,995

81,026

1.2%

CARGO REVENUE TON MILES (000)

Total

238,125

216,250

10.1%

1,539,336

1,511,428

1.8%

Note: See Part II, Item 6 Selected Financial Data of the company's Annual Report on Form 10-K for the year ended December 31, 2015 for the definition of these statistics

Third Quarter Preliminary Fuel Costs Per Gallon

Estimated average price per gallon of fuel, including operating cash-settled hedges1

$1.47 - $1.52

Operating cash-settled hedge loss price per gallon

($0.03)

Estimated average price per gallon of fuel, excluding hedges

$1.44 - $1.49

Estimated average price per gallon of fuel, including operating cash-settled hedges1

$1.47 - $1.52

Non-operating cash-settled hedge loss price per gallon2

$0.00

Estimated average price per gallon of fuel, including all cash-settled hedges3

$1.47 - $1.52

1This price per gallon corresponds to fuel expense in UAL's income statement

2This price per gallon corresponds to the impact of non-operating hedges that appear in non-operating expense in the income statement

3This price per gallon corresponds to the total economic cost of the company's fuel consumption including all cash-settled hedges but does not directly correspond to fuel expense in UAL's income statement

Preliminary Operational Results

2016

2015

Change

July On-Time Performance4

62.3%

56.9%

5.4 pts

July Completion Factor5

97.0%

97.9%

(0.9) pts

4Based on consolidated scheduled flights arriving on or before scheduled arrival time

5Consolidated completion percentage



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News, Guidance

Related Entities

Twitter, Crude Oil

Add Your Comment