Merger costs hit United profits

Merger costs hit United profits
By admin


Continuing merger costs hit United Continental in the fourth quarter as it reported a US$620 million loss.

The deficit pushed United's full year loss to US$723m.

Chairman, president and chief executive Jeff Smisek admitted he was "absolutely not satisfied" with the results but said the "most difficult aspect of our merger integration" have now been completed.

"With much of our integration work behind us, our significantly improved operational performance and our increasing customer satisfaction, we can now go forward as one company," he said.

UAL vice chairman and chief revenue officer Jim Compton added: "While we didn't meet our revenue goals in 2012 we have addressed the integration issues that drove our underperformance.

"We're now positioned to capitalise on market opportunities across our network and to earn back our share of revenue based on solid operations and great customer service."

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