United Airlines Holdings, Inc. engages in the operation of its wholly-owned subsidiary United Airlines, Inc, which offers satellite based Wi-Fi, including on long-haul overseas routes. It operates through the following geographical segments: Domestic (U.S. and Canada); Pacific; Atlantic; and Latin America. It also transports people and cargo through its mainline and regional operations. The company was founded on December 30, 1968 and is headquartered in Chicago, IL.
The Company recorded net income of $1.1 billion in the second quarter of 2019 as compared to net income of $683 million in the second quarter of 2018. The Company considers a key measure of its performance to be operating income, which was $1.5 billion for the second quarter of 2019, as compared to $1.1 billion for the second quarter of 2018. Significant components of the Company's operating results for the three months ended June 30 are as follows (in millions, except percentage changes):
Operating Revenue. The table below shows year-over-year comparisons by type of operating revenue for the three months ended June 30 (in millions, except for percentage changes):
Passenger revenue increased $606 million, or 6.1%, in the second quarter of 2019 as compared to the year-ago period primarily due to a 5.1% increase in traffic. Second quarter PRASM increased 2.5% compared to the second quarter of 2018 primarily as a result of increased close-in demand in the domestic markets and overall demand improvements in the Atlantic and Latin markets.