EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

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UNITED CONTINENTAL HOLDINGS REPORTS SEPTEMBER 2010

OPERATIONAL PERFORMANCE FOR UNITED AIRLINES

CHICAGO, Oct. 7, 2010 – United Continental Holdings, Inc. (NYSE: UAL) today reported September 2010 and year-to-date 2010 operational results for United Air Lines, Inc. On Oct. 1, United Continental Holdings, Inc., formerly UAL Corporation, announced that a wholly-owned subsidiary merged with Continental Airlines, Inc., and that Continental and United Air Lines, Inc. are now wholly-owned subsidiaries of United Continental Holdings, Inc. Stand-alone operational results for September 2010 for Continental were reported on Oct. 1.

United’s consolidated traffic (Revenue Passenger Miles) in September 2010 increased 7.6 percent versus September 2009 on a consolidated capacity increase of 4.4 percent. United’s consolidated load factor increased 2.5 points compared to the same period last year.

For September 2010, consolidated passenger revenue per available seat mile (RASM) for United is estimated to have increased between 13.5 and 14.5 percent compared to September 2009, while United’s mainline RASM is estimated to have increased between 14.0 and 15.0 percent compared to the same period last year.

United ended the third quarter of 2010 with an unrestricted cash, cash equivalents and short-term investments balance of approximately $4.9 billion.

Beginning with the release of October’s operational results in November, United Continental Holdings, Inc. will issue one news release with monthly operational results for both United and Continental on the fifth business day following the end of the prior month. In November, United Continental Holdings, Inc. will report October 2010 passenger RASM estimates on an individual carrier basis based on the respective historical presentations for each carrier. Currently United and Continental currently have different accounting presentations for passenger revenue. United Continental Holdings, Inc. will publish conformed accounting presentations for passenger revenue once its review of certain accounting adjustments and income statement classifications is completed.

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UNITED CONTINENTAL HOLDINGS REPORTS SEPTEMBER 2010 OPERATIONAL RESULTS FOR UNITED AIRLINES / PAGE 2

About United Continental Holdings, Inc.

United Continental Holdings, Inc. (NYSE: UAL) is the holding company for both United Airlines and Continental Airlines. Together with United Express, Continental Express and Continental Connection, these airlines operate a total of approximately 5,800 flights a day to 371 airports throughout the Americas, Europe, Asia and Africa from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York/Liberty, San Francisco, Tokyo and Washington, D.C. United and Continental are members of Star Alliance, which offers more than 21,200 daily flights to 1,172 airports in 181 countries worldwide through its 28 member airlines. United’s and Continental’s more than 80,000 employees reside in every U.S. state and in many countries around the world. For more information about United Continental Holdings, Inc., go to UnitedContinentalHoldings.com. For more information about the airlines, see united.com and continental.com, and follow each company on Twitter and Facebook.

-tables attached-

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UNITED CONTINENTAL HOLDINGS REPORTS SEPTEMBER 2010 OPERATIONAL RESULTS FOR UNITED AIRLINES / PAGE 3

United Preliminary Operational Results

 

     September      Year-to-Date
     2010      2009      Change            2010      2009    Change      

REVENUE PASSENGER MILES (000)

                              

North America

    4,549,020      4,483,981      1.5 %         43,371,541      44,410,794    -2.3 %   

International

    4,009,710      3,608,727      11.1 %         34,061,548      32,099,397    6.1 %   

Atlantic

    1,784,114      1,606,258      11.1 %         14,301,667      13,627,611    4.9 %   

Latin America

    221,276      191,087      15.8 %         2,464,780      2,361,972    4.4 %   

Pacific

    2,004,320      1,811,382      10.7 %         17,295,101      16,109,814    7.4 %   

Mainline

    8,558,730      8,092,708      5.8 %         77,433,089      76,510,191    1.2 %   

Regional

    1,395,862      1,155,076      20.8 %         12,336,750      10,224,160    20.7 %   

Consolidated

    9,954,592      9,247,784      7.6 %         89,769,839      86,734,351    3.5 %   

AVAILABLE SEAT MILES (000)

                              

North America

    5,409,021      5,445,643      -0.7 %         50,860,163      52,833,924    -3.7 %   

International

    4,719,744      4,415,768      6.9 %         40,773,955      40,912,219    -0.3 %   

Atlantic

    2,096,337      1,868,727      12.2 %         17,309,373      16,892,057    2.5 %   

Latin America

    276,203      255,542      8.1 %         3,076,535      3,098,916    -0.7 %   

Pacific

    2,347,204      2,291,499      2.4 %         20,388,047      20,921,246    -2.5 %   

Mainline

    10,128,765      9,861,411      2.7 %         91,634,118      93,746,143    -2.3 %   

Regional

    1,766,997      1,530,288      15.5 %         15,666,762      13,339,408    17.4 %   

Consolidated

    11,895,762      11,391,699      4.4 %         107,300,880      107,085,551    0.2 %   

PASSENGER LOAD FACTOR

                              

North America

    84.1  Percent      82.3  Percent      1.8  pts         85.3  Percent      84.1 Percent    1.2  pts   

International

    85.0  Percent      81.7  Percent      3.3  pts         83.5  Percent      78.5 Percent    5.0  pts   

Atlantic

    85.1  Percent      86.0  Percent      -0.9  pts         82.6  Percent      80.7 Percent    1.9  pts   

Latin America

    80.1  Percent      74.8  Percent      5.3  pts         80.1  Percent      76.2 Percent    3.9  pts   

Pacific

    85.4  Percent      79.0  Percent      6.4  pts         84.8  Percent      77.0 Percent    7.8  pts   

Mainline

    84.5  Percent      82.1  Percent      2.4  pts         84.5  Percent      81.6 Percent    2.9  pts   

Regional

    79.0  Percent      75.5  Percent      3.5  pts         78.7  Percent      76.6 Percent    2.1  pts   

Consolidated

    83.7  Percent      81.2  Percent      2.5  pts         83.7  Percent      81.0 Percent    2.7  pts   

ONBOARD PASSENGERS (000)

                              

Mainline

    4,420      4,425      -0.1 %         40,948      42,933    -4.6 %   

Regional

    2,416      2,132      13.3 %         21,447      18,875    13.6 %   

Consolidated

    6,836      6,557      4.3 %         62,395      61,808    0.9 %   

CARGO REVENUE TON MILES (000)

                              

Total

    148,133      145,847      1.6 %         1,421,774      1,128,262    26.0 %   

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UNITED CONTINENTAL HOLDINGS REPORTS SEPTEMBER 2010 OPERATIONAL RESULTS FOR UNITED

AIRLINES / PAGE 4

United Preliminary Operational and Financial Results

 

     Change

August 2010 year-over-year consolidated RASM change

    18.5  Percent

August 2010 year-over-year mainline RASM change

    18.6  Percent

September 2010 estimated year-over-year consolidated RASM change

    13.5 - 14.5  Percent

September 2010 estimated year-over-year mainline RASM change

    14.0 - 15.0  Percent

September 2010 estimated average price per gallon of fuel, including fuel taxes1

    2.40  Dollars

Third Quarter 2010 estimated average price per gallon of fuel, including fuel taxes1

    2.36  Dollars

 

September   2010     2009     Change

On-Time Performance 2

   89.7 %    87.9 %    1.8  Points

Completion Factor 3

   99.4 %    99.2 %    0.2  Points

 

1

Excluding non-cash, net mark-to-market gains and losses

2

Department of Transportation Arrivals within 14 minutes

3

Mainline Segment Completion Percentage

GAAP To Non-GAAP Reconciliations

Pursuant to SEC Regulation G, the Company has included the following reconciliation of reported non-GAAP financial measures to comparable financial measures reported on a GAAP basis. Since the Company did not apply cash flow hedge accounting prior to April 1, 2010, the Company believes that the net fuel hedge adjustments provide management and investors with a better perspective of its performance and comparison to its peers because the adjustments reflect the economic fuel cost during the periods presented and many of our peers apply cash flow hedge accounting. The non-cash mark-to-market gain/loss adjustment includes the reversal of prior period non-cash mark-to-market gain/loss related to September hedge settlements.

 

     September 2010    3Q 2010

Mainline fuel price per gallon (GAAP)

    2.43  Dollars    2.39  Dollars

Less: Non-cash, net mark-to-market gains and (losses) per gallon

    (0.03) Dollars    (0.03) Dollars

Mainline fuel price per gallon excluding non-cash, net mark-to-market gains and losses

    2.40  Dollars    2.36  Dollars

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