Higher fares boost United Airlines profit
{{#rendered}} {{/rendered}}A United Airlines airplane is unloaded after arriving at Newark Liberty International Airport in Newark, New Jeresy, June 18, 2011. A United Airlines computer problem caused system wide cancellations Friday evening forcing passengers to be stranded across the U.S. on Saturday. REUTERS/Gary Hershorn (UNITED STATES - Tags: TRANSPORT BUSINESS SCI TECH) (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.
{{#rendered}} {{/rendered}}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.