Higher fares and traffic boost United Airlines 4Q profit, with help from cheaper fuel, too The parent of United Airlines said Thursday that it earned $140 million in the fourth quarter, as more passengers flew and paid more for their tickets. The airline’s fuel bill also shrank.Its shares fell, though, after a disappointing prediction for revenue growth in the current quarter.Net income at United Continental Holdings Inc. amounted to 37 cents per share. A year earlier it lost $620 million, or $1.87 per share.Not counting special charges, United would have earned 78 cents per share — well above the 66 cents expected by analysts surveyed by FactSet.Revenue rose more than 7 per cent to $9.33 billion, also higher than analysts had expected.Passengers paid 3 per cent more per mile to fly compared to a year earlier. They paid more in add-on fees, too. United said ancillary revenue, which covers items such as baggage fees and seats with more legroom, rose 15 per cent in the quarter to nearly $21 per passenger.Fuel expenses fell 4 per cent to $2.97 billion for the quarter.United said in November that it intends to cut $2 billion in annual costs. The company is still working to integrate Continental after their 2010 merger. Although all the paint on the planes and the signs at the ticket counters read “United,” the company still has to schedule flight crews and planes separately for the two airlines, reducing the savings from the merger.“We have a lot of work ahead of us to deliver the financial results we’re capable of but I am confident that we have the plans, the people and the focus to reach our long-term potential,” chairman and CEO Jeff Smisek said on a conference call.United said it expects a key measure of revenue to be flat to up 2 per cent in the current quarter. Its main competitor, Delta Air Lines, on Tuesday predicted growth of up to 4 per cent. Analysts expect Delta to report a profit in the first quarter of 27 cents per share, excluding items, but are forecasting a loss for United of 29 cents per share.United’s guidance means its first-quarter loss would, at best, meet expectations, and at worst be as large as last year’s adjusted loss of 98 cents per share, JPMorgan analyst Jamie Baker wrote.“2014 appears off to a somewhat inauspicious start for UAL,” he wrote.Snowstorms and a cold snap earlier this month caused thousands of cancellations across all the big airlines, including some 6,000 flights cancelled by United. The storm hurt revenue by about $80 million as some business travellers ended up not making their trips, United said. The impact on profits was less than that because the cancelled flights meant the airline didn’t burn as much fuel.For all of 2013, United earned $571 million, after losing $723 million in 2012. Revenue rose 3 per cent to $38.28 billion.Shares of the Chicago-based company fell $1.18, or 2.4 per cent, to $48. They set a new 52-week high on Wednesday at $49.20. FILE – In this Saturday, Dec. 21, 2013, file photo, Holiday travelers check in at the United Airlines ticket counter at Terminal 1 in O’Hare International Airport in Chicago. United Airlines reports quarterly earnings on Thursday, Jan. 23, 2014. (AP Photo/Nam Y. Huh) by Joshua Freed, The Associated Press Posted Jan 23, 2014 6:55 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email
Heavy showers, which could still involve hail, are likely to push across the southern parts of England as the night progresses, starting with Dorset from around 6am.They are then predicted to move eastwards, hitting London between 8am and 10am, and clearing East Anglia by lunchtime.Further showers are also likely in Lincolnshire, where the weather warning is in place until 5pm. The wet weather is likely to make conditions muddier than many will have expected at Glastonbury Festival. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings. A 16-year-old boy died at a reservoir in Rochdale, Greater Manchester, on Monday, while a 15-year-old boy died after going into a lake with friends in the Pelsall area of the Black Country, in the West Midlands, on Tuesday evening.UK weather forecast: Thursday, May 22 The sweltering temperatures placed “unprecedented demand” on ambulance services in London, with people fainting, collapsing and becoming unconscious in the heat.On Monday, London Ambulance Service call handlers answered 6,613 emergency calls, compared with 4,695 the week before – a 41 per cent increase – and the service warned this was expected to continue while the heatwave lasted.Youngsters were urged not to go swimming in lakes, rivers and reservoirs during the hot weather, following the deaths of two teenagers in separate incidents. Met Office meteorologist Alex Burkhill said: “Once these showers clear away it’s not looking too bad.”It should be a fairly fine day, cloudier than of late but there will still be some sunshine.” Most areas can expect mid to high 20s (77-82.4F) – nowhere near the sweltering 34C reached on Wednesday, the UK’s hottest June day since 1976.Heathrow in west London had recorded temperatures of 34.5C (94.1F) by 4pm, the highest for June since the 35.6C (96F) recorded in Southampton on June 28 1976.The 40-year high – which is the hottest summer solstice on record – was recorded as parts of Britain sweltered for a fifth consecutive day with temperatures above 30C (86F). Sunseekers enjoy the hot weather in Brighton on WednesdayCredit:Gareth Fuller/PA He added that Thursday will see a “marked drop” in temperatures, with conditions feeling fresher into the afternoon.In the far south-east corner of the UK, Kent is expected to hold on to the heat for the longest, with maximum temperatures of 27-28C (80.6- 82.4F) predicted. With the potential for severe #thunderstorms and #hail be prepared for sudden downpours today and stay #weatheraware pic.twitter.com/XwOBxVS6ZZ— Met Office (@metoffice) June 21, 2017 A band of thunderstorms is expected to sweep across the UK and put an end to its record-breaking heatwave.Severe weather warnings are in place throughout Thursday, with a cold front set to bring heavy rain and thunderstorms to parts of southern Scotland, northern England, north Wales and the Midlands.The Met Office warned of the potential for torrential downpours, frequent lightning, very large hailstones and strong gusts of wind, which could lead to localised flooding and temporary disruption of power supplies overnight until early on Thursday.