jsled

CHICAGO (AP) -- UAL Corp. said Tuesday its third-quarter profit surged nearly 76 percent, a better-than-expected performance due largely to pared-down costs and a boost in passenger revenue at United Airlines.

It was the company's most profitable quarter in seven years, besting a record set during the previous quarter.

The parent of the nation's No. 2 carrier said it earned $334 million, or $2.21 per share, for the July-through-September quarter. That's up from $190 million, or $1.30 per share, during the same period last year.

Excluding special items, many related to the company's emergence from federal bankruptcy protection last year, the company earned $295 million, or $1.96 per share, easily topping Wall Street forecasts.

Meanwhile, revenue for the Chicago-based company climbed 6.8 percent to $5.53 billion, up from $5.18 billion.

On average, analysts surveyed by Thomson Financial forecast earnings of $1.88 a share on revenue of $5.36 billion.

UAL shares rose 7 cents to $48.20 in early trading.

bigfatdaddy

Congratulations, nicely done!

Whaledriver101

I didnt think any of the pax airlines made money. And oil at an all time high. I guess management cant blame losses on high oil prices anymore.

flyguy1

Remember the high oil prices ($85 plus) haven't really hit until the 4th quarter. These profits were for the 3rd quarter. Also, 2nd and 3rd quarter are the strongest quarters due to high demand when compared to 1st and 4th quarters. It will be interesting to see if the increased fares due to high gas prices stick through the winter. Let's hope they do.

7576FO

You should read the news. lol Not bashing you. AAL (AMR) made money so did CAL.