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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Ual Corp. Earnings Surge To $243 Million

From Staff And Wire Reports

United Airlines’ parent company reported surprisingly strong earnings Tuesday for the summer quarter due to higher ticket prices and more traffic on its most profitable routes.

In the quarter ended Sept. 30, UAL Corp. earned $243 million, or $14.06 per share, on revenues of $4.13 billion. A year ago, the company had a profit of $82 million, or $4.24 per share, on sales of $3.81 billion.

Last year’s third quarter included after-tax costs of $96 million to cover the employee stock ownership plan. Without the charge, UAL’s profit increase would have amounted to 36 percent in the latest quarter.

The company’s operating earnings of $467 million were 50 percent above last year’s $312 million and a record high.