United Airlines Has 4Q Profit of $140 Million

(AP) -

The parent of United Airlines said fourth-quarter net income totaled $140 million, as more passengers flew and paid more for their tickets. The airline’s fuel bill also shrank.

United Continental Holdings Inc. earned $140 million, or 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 percent to $9.33 billion, also higher than analysts had expected.

Passengers paid 3 percent more per mile to fly compared to a year earlier.

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.