Procurement
United Continental Holdings reported a fourth-quarter net loss of $190 million, excluding special charges,
and a net loss of $620 million including all items.Hurricane Sandy reduced quarterly revenue by about $140 million and profit by about $85 million. Total passenger revenue slipped 3.6 percent versus the year-earlier period to $7.5 billion while average passenger fare edged up 0.5 percent to $271. For full-year 2012, the company posted net income of $589 million, excluding $1.3 billion in special charges and including $739 million in costs related to the United-Continental integration. Total 2012 passenger revenue for the year rose marginally to $32.6 billion. According to chief revenue officer Jim Compton, "While we didn't meet our revenue goals in 2012, we have addressed the integration issues that drove our underperformance."