United Airlines and Continental Airlines both announced a double-digit rise in passenger revenue during the third quarter of 2010.
Between July and September United saw passenger revenue rise to $4,989 million, an increased of 21.4% compared to the same period in 2009.
Profits at United hit $473 million, an improvement of $533 million year-on-year.
Over the same period, Continental’s passenger revenue increased 20.6% to $3,555 million.
The airline saw profits of $367 million, an improvement of $365 million on Q3 2009.
While passenger revenue is up, the airlines also reported a rise in operating costs during the quarter.
Continental’s expenses increased $263 million between July and September, of which $103 million was related to higher fuel costs.
United’s expenses saw a rise of $463 million during the same period, of which $211 million was due to an increase in the cost of fuel.
The Q3 financial results mark a key milestone in the merger between the two airlines – from the next quarter United and Continental’s financial results will be combined.
In the new year the airlines will finalise their merger, creating a new airline called United. The Continental name will disappear from the skies, but its globe logo will remain.
It is thought the merger of the two US airlines will eventually bring savings of more than $1 billion a year.