United anticipates $439m in charges during Q4

Washington DC
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United Airlines anticipates that it recorded $439 million in special charges during the fourth quarter.

Charges include $408 million related to the on-going integration of the United and Continental Airlines operations, $24 million from the impairment of assets including foreign exchange rates, $21 million from its new labour agreement with its pilots and a $14 million gain from the sale of three aircraft, says the Chicago-based carrier.

Integration costs include $99 million including systems integration, training, aircraft repainting and employee reductions, as well as $309 million related to a modified debt agreement with the US Pension Benefit Guaranty Corporation.

Special charges net a $9 million income tax benefit during the quarter are expected to be $430 million.

United paid $514 million in special charges during the third quarter.