United Continental loses $ 723 million in 2012

The losses reported by United Continental is U.S. $ 723 million, representing a loss per share of U.S. $ 2.18 per what the airline has also announced the cancellation of about 600 jobs to keep costs in line with reductions in flights. The company explained that the cuts include mergers, layoffs and job openings that are not filled.

Of these cuts, most are expected to focus on Chicago, where the company is based and where it has its main center at O’Hare International Airport. The positions most affected could be those related to the management and administration of the company.

For now, the company employs about 84,000 people worldwide announced that in the fourth quarter of last year, the company had a loss of $ 620 million or $ 1.87 per share.

According to United, the storm produced Sandy reducing their income in the fourth quarter of about $ 140 million and therefore reduced earnings by $ 85 million. The company shared $ 119 million to its employees.

Jeff Smisek, CEO of United said in reference to the merger with Continental that «I want to thank our employees for working together in 2012, the year he completed the most difficult aspects of our integration.»