CHICAGO (Reuters) - UAL Corp and Continental Airlines, which merged this month to form the world’s largest airline, earned third-quarter profits as the industry extends a rebound.
UAL, parent of the former United Airlines, posted a third-quarter net profit of $387 million, or $1.75 per share, compared with a loss of $57 million, or 39 cents per share, a year earlier. Continental posted a net profit of $354 million, or $2.16 per share, compared with a loss of $18 million, or 14 cents per share, a year ago.
The two airlines combined to form a new United Airlines owned by United Continental Holdings (UAL.N) but continue to operate separately while they pursue a single operating certificate from the government.
UAL’s operating revenue was $5.39 billion. Continental reported operating revenue of $3.95 billion.
United and Continental ended the third quarter with a combined $9.1 billion in unrestricted cash, cash equivalents and short-term investments.
Reporting by Kyle Peterson; Editing by Steve Orlofsky