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United Continental Arm to Boost New York-Shanghai Service

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United Continental Holdings, Inc.’s (UAL - Free Report) wholly owned subsidiary United Airlines plans to add a flight between New York/Newark Liberty and Shanghai Pudong from June 2020 onward.

The company intends to launch a second daily flight on the route owing to growing demand for travel between the two places over the past few years. However, government approval for the same is still pending. To this end, the carrier recently submitted an application to the U.S. Department of Transportation. On approval of the proposal, United Airlines will offer a morning as well as an afternoon departure from both New York/Newark and Shanghai.

The additional flight frequency will strengthen the carrier’s footprint in China. Notably, United Airlines began operations to China in 1986 and currently runs more than 90 weekly flights from the United States to Greater China, the maximum among all U.S. carriers.

United Airlines has been making continued efforts to expand operations worldwide. Recently, in another expansion related initiative, the company began non-stop flights connecting the San Francisco International Airport to the capital of Tahiti, i.e, Pape’ete. Moreover, the carrier has decided to extend the current seasonal service between the destinations to a year-round one from Mar 30, 2019 onward. The carrier also announced its decision to operate a daily non-stop service throughout the year to Amsterdam. The flights are likely to be operational from Mar 30, 2019.

With the earnings season on, let’s shed some light on United Continental’s third-quarter 2018 earnings report. The company’s earnings (on an adjusted basis) of $3.06 per share fell short of the Zacks Consensus Estimate of $3.09. However, the bottom line improved year over year despite high fuel costs.

Operating revenues came in at $11,003 million, which outpaced the Zacks Consensus Estimate of $10,956.4 million. Moreover, the top-line figure was up 11.2% year over year. (Read more: United Continental's Q3 Earnings Miss, Revenues Beat)

Other key airline players like American Airlines Group Inc. (AAL - Free Report) , Southwest Airlines Co. (LUV - Free Report) and Alaska Air Group, Inc. (ALK - Free Report) also released third-quarter earnings numbers in October. Each of the carriers delivered better-than-expected results in the quarter.

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