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Integration Costs Hurting United Continental Earnings

The parent company of United Airlines said its second-quarter net income dropped 37% as it continued to hit obstacles in its integration of Continental.

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United Continental Holdings had warned on Tuesday that June passenger revenue rose less than it had been expecting. The shortfall occurred because it didn’t correctly estimate the value of tickets that had been bought but not yet used to fly.

The company says it earned $339 million for the quarter, or $0.89 per share. Excluding special items, United would have earned $545 million, or a $1.41 per share.

Analysts surveyed by FactSet had been expecting profit of $1.65 a share. Revenue rose just over 1% to nearly $10 billion.

Andrew Schneider

Andrew Schneider

Politics and Government Reporter

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Andrew Schneider is the senior reporter for politics and government at Houston Public Media, NPR's affiliate station in Houston, Texas. In this capacity, he heads the station's coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments...

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