United Airlines 2014 Annual Report Download - page 38
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Table of Contents
Operating Revenue
The table below illustrates the year-over-year percentage change in the Company’s operating revenues for the years ended December 31 (in millions, except
percentage changes):
Passenger—Mainline $25,997 $25,804 $ 193 0.7
Passenger—Regional 7,125 6,779 346 5.1
Total passenger revenue 33,122 32,583 539 1.7
Cargo 882 1,018 (136) (13.4)
Other operating revenue 4,275 3,551 724 20.4
$38,279 $37,152 $ 1,127 3.0
The table below presents the Company’s selected passenger revenue and selected operating data based on geographic region (regional flights consist
primarily of domestic routes):
Passenger revenue (in millions) $ 58 $(212) $ 331 $ 16 $ 193 $ 346 $ 539
Passenger revenue 0.5 % (4.3)% 5.9 % 0.6 % 0.7 % 5.1 % 1.7 %
Average fare per passenger 4.0 % (3.7)% 4.4 % 0.8 % 3.2 % 2.8 % 2.6 %
Yield 1.7 % (3.7)% 5.1 % (0.2)% 1.3 % 3.1 % 1.8 %
PRASM 2.7 % (3.2)% 7.2 % 0.8 % 2.3 % 5.7 % 3.1 %
Average stage length 2.3 % 0.3 % (0.6)% 2.1 % 2.1 % — % 1.2 %
Passengers (3.4)% (0.5)% 1.5 % (0.2)% (2.4)% 2.2 % (0.9)%
RPMs (traffic) (1.2)% (0.5)% 0.8 % 0.8 % (0.5)% 2.0 % (0.2)%
ASMs (capacity) (2.1)% (1.1)% (1.2)% (0.2)% (1.5)% (0.6)% (1.4)%
Passenger load factor (points) 0.8 0.4 1.6 0.8 0.9 2.1 1.0
(a)See Part II, Item 6 of this report for the definition of these statistics.
Consolidated passenger revenue in 2013 increased $539 million, or 1.7%, as compared to 2012. This increase was primarily due to an increase in
consolidated yield of 1.8% and an increase in average fare per passenger of 2.6%, offset in part by a decline in capacity of 1.4% and a reduction in traffic of
0.2% as compared to the year-ago period. Consolidated passenger revenue was also impacted by factors including additional competitive capacity in China
and the Japanese yen weakening against the U.S. dollar, resulting in lower Pacific yields and a revenue management demand forecast which underestimated
the amount of close-in booking demand resulting in a lower-than-expected yield mix in 2013.
Cargo revenue decreased by $136 million, or 13.4%, in 2013 as compared to 2012 due to lower volumes on freight primarily in the Domestic and Atlantic
regions offset slightly by an increase in mail revenue for the period. Both freight volume and yield continued to decrease in 2013 compared to 2012 due
primarily to the continuation of declining demand for shipments of freight.
Other operating revenue increased $724 million, or 20.4%, in 2013 as compared to 2012, which was primarily due to the sale of aircraft fuel of approximately
$400 million to a third party. Other operating revenue also increased due to additional revenue from non-airline partners under our MileagePlus loyalty
program, passenger ticket change fees and sales of airport lounge access.
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