United, Continental report 3Q profits

[October 21, 2010]  MINNEAPOLIS (AP) -- United Continental Holdings Inc. says its two airlines both posted profits in their last quarters as independent airlines.

United Airlines had a profit of $387 million, or $1.75 per share. A year earlier it lost $57 million.

Continental Airlines turned a profit of $354 million, or $2.16 per share. A year earlier it lost $18 million.

The Chicago-based company runs United and Continental airlines. Those two were separate companies until Oct. 1, the day after the quarter ended. Eventually they will be combined into a single airline called United. The company will report combined results for the two airlines starting next quarter.

Delta, American, and US Airways all reported quarterly profits on Wednesday. The airline business has been benefiting from a resurgence of travel demand, and higher fares.

[Associated Press; By JOSHUA FREED]

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