Saturday, 9 December 2017

United's Share buyback and November results

United Airlines announced during the week that the Board of Directors of its parent company, United Continental Holdings, Inc. (UAL), authorized a new $3 billion share repurchase program. This amount represents approximately 17 percent of the company's market capitalization based on the closing stock price on 6th Dec. 2017.

"We continue to invest in our employees, our customer experience and the growth of our business. Returning cash to our shareholders reflects the strength of our balance sheet and the confidence we have in our future," said Andrew Levy, executive vice president and chief financial officer of United Airlines.

The company is expected to complete its most recently authorized July 2016 $2 billion share repurchase program by the end of December 2017. The company's share repurchases under today's $3 billion repurchase authorization will be made in accordance with applicable securities laws in open market, or accelerated repurchase transactions from time to time, depending on market conditions, and may be discontinued at any time. There is no expiration date for the share repurchase program.

Read on for the November results



United Airlines November 2017 operational results.

UAL's November 2017 consolidated traffic (revenue passenger miles) increased 5.1 percent and consolidated capacity (available seat miles) increased 5.1 percent versus November 2016. UAL's November 2017 consolidated load factor was flat compared to November 2016.

For the month of November, UAL had the fewest cancellations of any month in the company's history and set a new record with its best ever on-time arrival rate. Additionally, UAL achieved an all-time company record for on-time departures.


The company now expects fourth-quarter consolidated passenger unit revenue to be down 2.0 percent to flat compared to the fourth quarter of 2016.

Preliminary Operational Results




November

Year-to-Date


2017
2016
Change

2017
2016
Change









 REVENUE PASSENGER MILES (000)








Domestic
10,284,451
9,565,841
7.5%

113,788,397
108,780,065
4.6%

Mainline
8,414,435
7,705,031
9.2%

93,734,002
87,442,280
7.2%

Regional
1,870,016
1,860,810
0.5%

20,054,395
21,337,785
(6.0%)

International
6,736,201
6,623,715
1.7%

84,396,997
83,933,369
0.6%

Atlantic
2,459,110
2,334,085
5.4%

33,575,589
33,378,022
0.6%

Pacific
2,651,756
2,738,444
(3.2%)

31,010,551
31,160,166
(0.5%)

Latin
1,625,335
1,551,186
4.8%

19,810,857
19,395,181
2.1%

Mainline
1,555,059
1,476,770
5.3%

19,032,647
18,553,408
2.6%

Regional
70,276
74,416
(5.6%)

778,210
841,773
(7.6%)

Consolidated
17,020,652
16,189,556
5.1%

198,185,394
192,713,434
2.8%









AVAILABLE SEAT MILES (000)








Domestic
11,936,101
11,233,503
6.3%

133,372,492
127,384,340
4.7%

Mainline
9,706,089
9,024,065
7.6%

109,035,519
101,983,163
6.9%

Regional
2,230,012
2,209,438
0.9%

24,336,973
25,401,177
(4.2%)

International
8,867,120
8,566,289
3.5%

107,050,550
105,023,588
1.9%

Atlantic
3,312,838
3,131,075
5.8%

43,954,274
43,910,263
0.1%

Pacific
3,502,771
3,554,585
(1.5%)

39,171,150
37,916,995
3.3%

Latin
2,051,511
1,880,629
9.1%

23,925,126
23,196,330
3.1%

Mainline
1,956,738
1,776,219
10.2%

22,861,773
22,023,596
3.8%

Regional
94,773
104,410
(9.2%)

1,063,353
1,172,734
(9.3%)

Consolidated
20,803,221
19,799,792
5.1%

240,423,042
232,407,928
3.4%









PASSENGER LOAD FACTOR








Domestic
86.2%
85.2%
1.0 pt

85.3%
85.4%
(0.1) pts

Mainline
86.7%
85.4%
1.3 pts

86.0%
85.7%
0.3 pts

Regional
83.9%
84.2%
(0.3) pts

82.4%
84.0%
(1.6) pts

International
76.0%
77.3%
(1.3) pts

78.8%
79.9%
(1.1) pts

Atlantic
74.2%
74.5%
(0.3) pts

76.4%
76.0%
0.4 pts

Pacific
75.7%
77.0%
(1.3) pts

79.2%
82.2%
(3.0) pts

Latin
79.2%
82.5%
(3.3) pts

82.8%
83.6%
(0.8) pts

Mainline
79.5%
83.1%
(3.6) pts

83.3%
84.2%
(0.9) pts

Regional
74.2%
71.3%
2.9 pts

73.2%
71.8%
1.4 pts

Consolidated
81.8%
81.8%
0.0 pts

82.4%
82.9%
(0.5) pts









ONBOARD PASSENGERS (000)








Mainline
8,788
8,222
6.9%

99,011
92,468
7.1%

Regional
3,417
3,401
0.5%

36,614
38,794
(5.6%)

Consolidated
12,205
11,623
5.0%

135,625
131,262
3.3%









CARGO REVENUE TON MILES (000)








Total
300,195
256,982
16.8%

3,014,572
2,546,641
18.4%









OPERATIONAL PERFORMANCE








Mainline Departure Performance1
76.5%
68.8%
7.7 pts





Mainline Completion Factor
99.9%
99.7%
0.2 pts





1Based on mainline scheduled flights departing by or before scheduled departure time
Note: See Part II, Item 6 Selected Financial Data of the company's Annual Report on Form 10-K for the year ended December 31, 2016 for the definition of these statistics





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