Reported fourth quarter net income of
Reported fourth quarter adjusted net income of
Reported full year net income of
Reported full year adjusted net income of
Consolidated fourth quarter passenger revenue per available seat mile (PRASM) increased 0.8 percent year-over-year.
Consolidated fourth quarter unit cost per available seat mile (CASM) decreased 1.3 percent year-over-year and consolidated full year unit cost per available seat mile (CASM) decreased 1.2 percent year-over-year.
Consolidated fourth quarter CASM, excluding special charges, third party business expenses, fuel and profit sharing, increased 2.7 percent year-over-year. Consolidated full year CASM, excluding special charges, third-party business expenses, fuel and profit sharing, increased 1.0 percent year-over-year.
Repurchased
'2019 was a great year for our United team-highlighted by achieving our
1 Excludes special charges, unrealized gains and losses on investments and imputed interest on certain finance leases. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included in the tables accompanying this release.
2 Excludes special charges and unrealized gains and losses on investments, the nature of which are not determined at this time. Accordingly, UAL does not provide earnings guidance on a GAAP basis.
For more information on UAL's first quarter and full year 2020 guidance, please visit ir.united.com for the company's investor update.
2019 Highlights
Operations and Employees
Flew most revenue passengers in company history.
Set new company record for most mainline departures with nearly 800,000 departures.
Number one in on-time departures at all hubs with direct competitors-
Hosted Backstage 2019, which brought all 25,000 flight attendants to
Profit sharing for 2019 was on average 45 percent higher per participating employee year-over-year.
Launched Aviate, a new pilot recruiting and development program and career website to establish a more structured career path to becoming a United pilot.
Hired nearly 9,000 aviation professionals in well paying careers with great benefits in 2019.
Customer Experience
Introduced ConnectionSaver, a new tool dedicated to improving the experience for customers connecting from one United flight to the next, saving nearly 100,000 connections to be made in 2019.
Became the first
Announced MileagePlus award miles never expire, giving members a lifetime to use miles on flights, experiences, hotels and more.
Announced free live DIRECTV on 211
Introduced a re-imagined mobile app to customers featuring a more dynamic experience that updates customers at each step of their travel journey.
Customers are now provided three inflight snack options on domestic flights regardless of departure time, including the Stroopwafel.
MileagePlus members between the ages of 18 to 22 received a discount on domestic flights when booked through the United mobile app through the end of 2019.
Opened the fifth of its award-winning United Polaris Lounges at
Opened three new
Announced the addition of more than 1,600 United Polaris business class and United First seats to nearly 250 international and domestic aircraft.
Began flight operations at
Customers can now pre-pay for bags as soon as their ticket is issued. Previously customers had to wait until check-in to pay for their bags.
Announced partnership with CLEAR which includes a free or discounted CLEAR membership for
Network
Announced a total of nine new international routes and two new expanded routes beginning in 2020, including four new daily nonstop flights to
Strengthened the domestic route network with 69 new routes including launching 54 new routes and announcing 15 routes beginning in 2020.
Launched 11 new international routes in 2019, including direct flights from
Fleet
Took delivery of 49 aircraft in 2019, including eight
Signed agreements to purchase 50 Airbus A321 XLR, 20 used
Introduced a brand new and revolutionary regional flying experience with the addition of the two-cabin, 50-seat
Unveiled next paint design, which brings a refreshed look to its fleet, serving as a visual representation of the airline's ongoing brand evolution.
Launched
Community and Environment
Launched Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel.
Pledged on Giving Tuesday to match up to 10 million MileagePlus miles to featured Miles on a Mission partners.
Committed
Made history with the departure of the 'Flight for the Planet,' the most eco-friendly commercial flight of its kind in the history of aviation.
Renewed contract with
Launched Her Art Here, a contest where two women artists were chosen to have their work painted on
Celebrated Women in
Became the first public company to be inducted into Pride Live's Stonewall Ambassador program in recognition of the airline's commitment to LGBTQ+ equality.
Reached a milestone of 1 million meals packed for charity partner
Donated
Earnings Call
UAL will hold a conference call to discuss its fourth quarter and full year 2019 financial results as well as its financial and operational outlook for first quarter and full year 2020 on
About United
United's shared purpose is 'Connecting People. Uniting the World.' We are more focused than ever on our commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements included in this release are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and uncertainties relating to our operations and business environment that may cause actual results to differ materially from any future results expressed or implied in such forward-looking statements. Words such as 'expects,' 'will,' 'plans,' 'anticipates,' 'indicates,' 'believes,' 'estimates,' 'forecast,' 'guidance,' 'outlook,' 'goals,' 'targets' and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. Our actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: our ability to execute our strategic operating plan, including our growth, revenue-generating and cost-control initiatives; general economic conditions (including interest rates, foreign currency exchange rates, investment or credit market conditions, crude oil prices, costs of aircraft fuel and energy refining capacity in relevant markets); risks of doing business globally, including instability and political developments that may impact our operations in certain countries; demand for travel and the impact that global economic and political conditions have on customer travel patterns; our capacity decisions and the capacity decisions of our competitors; competitive pressures on pricing and on demand; changes in aircraft fuel prices; disruptions in our supply of aircraft fuel; our ability to cost-effectively hedge against increases in the price of aircraft fuel, if we decide to do so; the effects of any technology failures or cybersecurity breaches; disruptions to services provided by third-party service providers; potential reputational or other impact from adverse events involving our aircraft or operations, the aircraft or operations of our regional carriers or our code share partners or the aircraft or operations of another airline; our ability to attract and retain customers; the effects of any terrorist attacks, international hostilities or other security events, or the fear of such events; the mandatory grounding of aircraft in our fleet; disruptions to our regional network; the impact of regulatory, investigative and legal proceedings and legal compliance risks; the success of our investments in other airlines, including in other parts of the world; industry consolidation or changes in airline alliances; the ability of other air carriers with whom we have alliances or partnerships to provide the services contemplated by the respective arrangements with such carriers; costs associated with any modification or termination of our aircraft orders; disruptions in the availability of aircraft, parts or support from our suppliers; our ability to maintain satisfactory labor relations and the results of any collective bargaining agreement process with our union groups; any disruptions to operations due to any potential actions by our labor groups; labor costs; an outbreak of a disease that affects travel demand or travel behavior; the impact of any management changes; extended interruptions or disruptions in service at major airports where we operate;
tables attached-
On
STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED)
See full release at: https://hub.united.com/2020-01-21-united-airlines-reaches-2020-adjusted-earnings-per-share-target-one-year-ahead-of-schedule-2644883756.html
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