United Continental Holdings, Inc. announced unaudited consolidated earnings and traffic results fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total passenger revenue of $7,977 million against $7,533 million a year ago. Total operating revenue was $9,329 million against $8,702 million a year ago. Operating income was $235 million against operating loss of $465 million a year ago. Income before income taxes was $112 million against loss before income taxes of $632 million a year ago. Net income was $140 million or $0.37 diluted per share against net loss of $620 million or $1.87 basic and diluted per share a year ago. Gross capital expenditures were $760 million.

For the year, the company reported total passenger revenue of $33,122 million against $32,583 million a year ago. Total operating revenue was $38,279 million against $37,152 million a year ago. Operating income was $1,249 million against $39 million a year ago. Income before income taxes was $539 million against loss before income taxes of $724 million a year ago. Net income was $571 million or $1.53 diluted per share against net loss of $723 million or $2.18 basic and diluted per share a year ago.

For the quarter, the company's total passengers travelled during the quarter were 22,155,000 against 21,811,000 for the same period last year. Revenue passenger miles were 42,531 million against 41,555 million for the same period last year. Available seat miles were 51,670 million against 50,376 million for the same period last year. Cargo ton miles were 599 million against 601 million a year ago. Passenger load factor for Mainline was 82.3% against 82.5% for the same period last year. Passenger load factor for Domestic was 84.8% against 84.3% for the same period last year. Passenger load factor for international was 79.7% against 80.6% for the same period last year.

For the year, the company's total passengers travelled during the year were 91,329,000 against 93,595,000 for the same period last year. Revenue passenger miles were 178,578 million against 179,416 million for the same period last year. Available seat miles were 213,007 million against 216,330 million for the same period last year. Cargo ton miles were 2,213 million against 2,460 million a year ago. Passenger load factor for Mainline was 83.8% against 82.9% for the same period last year. Passenger load factor for Domestic was 85.7% against 84.9% for the same period last year. Passenger load factor for international was 81.9% against 80.9% for the same period last year.

For the quarter, the company reported impairment of non-operating aircraft, engines and related equipment was $32 million, related primarily to impairment of its flight equipment held for disposal associated with its 737-300 and 737-500 fleets and recorded a $1 million charge associated with a route to Manila to reflect the estimated fair value of this asset as part of its annual impairment test of indefinite-lived intangible assets.

The company provided operating guidance for the first quarter of 2014 and expected earnings guidance for 2014. The company expects first quarter 2014 consolidated capacity will increase between 0.3% and 1.3%. The company expects productivity to improve approximately 3.5% in 2014 through improved tools for customers and employees, reduced overtime and modifying layouts and processes at airports, among other initiatives.

For 2014, the company expects between $2.9 billion and $3.1 billion of gross capital expenditures, including purchase deposits.

The company also expects to introduce 27 Embraer 175 regional aircraft. These 76-seat aircraft are far more fuel-efficient and provide a superior customer experience and ancillary revenue opportunity versus the 50-seat aircraft they'll be replacing.