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United Airlines (UAL) Load Factor Fell 1 Point in Oct. 2016

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November 8, 2016 4:16 PM EST

United Airlines (UAL) reported October 2016 operational results.

UAL's October 2016 consolidated traffic (revenue passenger miles) increased 0.6 percent and consolidated capacity (available seat miles) increased 1.8 percent versus October 2015. UAL's October 2016 consolidated load factor decreased 1.0 point compared to October 2015.

The company continues to expect fourth-quarter 2016 consolidated passenger unit revenue to decline 4.0 to 6.0 percent compared to the fourth quarter of 2015. The year-over-year performance is driven primarily by yield weakness and the timing of certain holidays.

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 737NGs, 787s and 777s, as well as six used Airbus A319 aircraft. 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

October

Year-to-Date

2016

2015

Change

2016

2015

Change

REVENUE PASSENGER MILES (000)

Domestic

8,450,289

8,258,786

2.3%

79,737,249

78,162,422

2.0%

International

7,256,058

7,205,523

0.7%

76,542,297

76,473,877

0.1%

Atlantic

3,126,986

3,289,326

(4.9%)

31,043,937

32,390,565

(4.2%)

Pacific

2,856,346

2,712,891

5.3%

28,421,722

28,071,183

1.2%

Latin

1,272,726

1,203,306

5.8%

17,076,638

16,012,129

6.6%

Mainline

15,706,347

15,464,309

1.6%

156,279,546

154,636,299

1.1%

Regional

2,046,586

2,181,245

(6.2%)

20,244,332

20,902,235

(3.1%)

Consolidated

17,752,933

17,645,554

0.6%

176,523,878

175,538,534

0.6%

AVAILABLE SEAT MILES (000)

Domestic

9,833,717

9,462,051

3.9%

92,959,098

90,433,037

2.8%

International

9,262,525

9,093,098

1.9%

95,388,975

94,296,790

1.2%

Atlantic

4,146,215

4,101,355

1.1%

40,779,188

40,557,478

0.5%

Pacific

3,617,445

3,489,221

3.7%

34,362,410

34,256,238

0.3%

Latin

1,498,865

1,502,522

(0.2%)

20,247,377

19,483,074

3.9%

Mainline

19,096,242

18,555,149

2.9%

188,348,073

184,729,827

2.0%

Regional

2,439,923

2,598,182

(6.1%)

24,260,063

25,122,788

(3.4%)

Consolidated

21,536,165

21,153,331

1.8%

212,608,136

209,852,615

1.3%

PASSENGER LOAD FACTOR

Domestic

85.9%

87.3%

(1.4) pts

85.8%

86.4%

(0.6) pts

International

78.3%

79.2%

(0.9) pts

80.2%

81.1%

(0.9) pts

Atlantic

75.4%

80.2%

(4.8) pts

76.1%

79.9%

(3.8) pts

Pacific

79.0%

77.8%

1.2 pts

82.7%

81.9%

0.8 pts

Latin

84.9%

80.1%

4.8 pts

84.3%

82.2%

2.1 pts

Mainline

82.2%

83.3%

(1.1) pts

83.0%

83.7%

(0.7) pts

Regional

83.9%

84.0%

(0.1) pts

83.4%

83.2%

0.2 pts

Consolidated

82.4%

83.4%

(1.0) pt

83.0%

83.6%

(0.6) pts

ONBOARD PASSENGERS (000)

Mainline

8,829

8,354

5.7%

84,246

80,512

4.6%

Regional

3,656

3,868

(5.5%)

35,393

36,927

(4.2%)

Consolidated

12,485

12,222

2.2%

119,639

117,439

1.9%

CARGO REVENUE TON MILES (000)

Total

274,804

232,766

18.1%

2,289,659

2,167,739

5.6%

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

Fourth Quarter Preliminary Fuel Costs Per Gallon

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

$1.56 - $1.61

Operating cash-settled hedge loss price per gallon

($0.02)

Estimated average price per gallon of fuel, excluding hedges

$1.54 - $1.59

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

$1.56 - $1.61

Non-operating cash-settled hedge loss price per gallon2

$0.00

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

$1.56 - $1.61

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

October On-Time Performance4

69.5%

65.5%

4.0 pts

October Completion Factor5

98.9%

99.1%

(0.2) pts

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

5Consolidated completion percentage


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