BRIEF: United Airlines parent to take $177M 3Q hit
(MCT) — United Airlines parent company said Thursday its third-quarter results, which are set to be released next week, will include $177 million in charges related to new labor deals and more integration costs from its merger with Continental.
United Continental Holdings said $127 million is related to lump sum cash payments it agreed to pay as part of the deal with the union that represents its fleet and passenger service workers and storekeepers. If the labor agreement is ratified, United expects to start making the payments early next year.
The $50 million in integration costs include system upgrades and related training, marketing, some employee relocation, severance and new uniforms.
In last year's third quarter, United earned a profit of just $6 million after $514 million in special charges.
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