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Higher fares boost United Airlines profit

United Airlines

 (Reuters)

The parent of United Airlines says its profit rose 38 percent even though it flew less in the second quarter.

United cut flying by 2 percent compared to a year earlier, but passengers paid more to fly.

United Continental Holdings earned $469 million, or $1.21 per share, for the quarter. It would have earned $1.35 per share if not for special items. That's a penny better than expected by analysts surveyed by FactSet.

Revenue rose almost 1 percent to $10 billion, about what analysts had expected.

United struggled last year with issues related to its integration with Continental. A key measure of per-seat passenger revenue rose 1 percent in the most recent quarter as United recovered.