Cheaper fuel helps United's 3Q profit take off

CHICAGO (AP) — United Airlines appears to be hitting its stride after struggling to make a 2010 merger pay off.

The airline's formula is lower fuel prices and more revenue for every mile that passengers fly.

United Continental Holdings Inc. said today that third-quarter net income soared to $924 million, or $2.37 per share, compared with $379 million a year earlier.

But the Chicago company's shares fell in morning trading as analysts expressed disappointment with part of a fourth-quarter forecast. United said that revenue for every seat flown one mile, a closely watched figure in the airline business, would range between down 1 percent and up 1 percent.

Stifel, Nicolaus & Co. analyst Joseph DeNardi said the forecast surprised investors because Delta predicted flat to 2 percent growth in the same figure. United said it was competing against a ticket-sales gain that it recorded in last year's fourth quarter.

In trading shortly after the opening bell, United shares were down $2.02, or 4.1 percent, to $47.09.