Reduced fuel costs and a redefined network helped United Airlines reach a new income record during this year.
In a financial update, the carrier reported a net income of $1.3 billion for the second-quarter of the 2014/15 year.
The rise comes alongside a 6.7 percent rise in ancillary revenue per passenger during the same period.
Despite income growth, United did experience a slight four percent dip in total revenue, which reached $9.9 billion. This was a result of a 3.4 percent decrease in consolidated passenger revenue to $8.7 billion compared to the same six month period in 2014.
United’s Vice Chairman and Chief Revenue Officer, Jim Compton, welcomed the figures, saying it was a result of progress in the airline’s long-term network and people plan.
“This quarter, we continued to build and refine our route network.”
Jim Compton, United Airlines Vice Chairman and Chief Revenue Officer
“These decisions will enhance our network and provide our customers with more choice and convenience.
“We will continue to improve our leading network by focusing on our strengths, while investing in our people, fleet and products to increase revenue and deliver a flyer-friendly customer experience.”
According to the airline, second-quarter total operating expenses, excluding special charges, decreased $840 million, or 9.1 percent, year-over-year.
Including special charges, total operating expenses decreased $954 million, or 10.1 percent, in the second quarter versus the same period in 2014.
“Our record profit in the quarter is the result of the great work of all of our employees, as demonstrated by our seventh consecutive quarter of good cost performance.”
John Rainey, United Airlines Vice President and Chief Financial Officer
“We are pleased to announce an additional $3 billion share repurchase program which supports our goals of returning cash to shareholders while investing in our business and improving our capital structure.”
