Airlines Reported Massive Earnings In Third Quarter
Airlines Reported Massive Earnings In Third Quarter

Airlines such as Continental Airlines, United Airlines and Southwest Airlines, gained heavily in the third quarter.

Southwest’s airlines had spent $2.38 per gallon in the third quarter jut on the fuel and are expecting to pay $2.45 to $2.50 per gallon in the fourth quarter.

United Airlines total expenditure increased by $463 million out of which $211 million is on fuel, in comparison to that of last year’s third quarter.

On account of the merger of the Houston-based Continental with Chicago-based United, on Oct. 1, the third quarter reports cannot be compared.

Net income reported by United is $387 million, or $1.75 per share. The company has lost $57 million in third quarter of 2009.

Continental gained $354 million or $2.16 a share as compared to $18 million loss in third quarter in the previous year.

United's third-quarter revenue jumped by 21.7 percent to $5.4 billion while Continental gained 19.2 percent to $4 billion in comparison to revenues of the same period for the previous year.

Southwest in third-quarter gained 19.7 percent to $3.2 billion.

New flights such as from Houston to Bakersfield, Calif.; Palm Springs, Calif.; Cedar Rapids, Iowa; Grand Junction, Colo.; Hobbs, N. M.; Montreal; and Reno will be started by Continental. In addition to this the airline will also starts its flights to Cincinnati, and from Newark Des Moines, Iowa.

United is also planning to launch new air services from Washington Dulles International Airport to Louisville, Ky.; Minneapolis-St. Paul., Salt Lake City; Tulsa, Okla.; and Grand Cayman in the Cayman Islands.

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