United Airlines Inc (CALPRB) has reported a 51.76 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $0.40 million, or $1.26 a share in the quarter, compared with $0.82 million, or $2.24 a share for the same period last year. Revenue during the quarter went up marginally by 0.18 percent to $9.05 million from $9.04 million in the previous year period. Gross margin for the quarter expanded 56 basis points over the previous year period to 63.91 percent. Total expenses were 88.90 percent of quarterly revenues, up from 88.04 percent for the same period last year. That has resulted in a contraction of 86 basis points in operating margin to 11.10 percent.
Operating income for the quarter was $1 million, compared with $1.08 million in the previous year period.
“Our fourth quarter financial and operating performance capped an outstanding year for United Airlines,” said Oscar Munoz, chief executive officer of United Airlines. “In 2016 we put into action our plan to become the best airline in the world and last year’s results demonstrate we are on our way to achieving that ambition. We will continue delivering on this commitment by investing in our employees, elevating our customer experience and driving strong and consistent returns for our shareholders.”
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