United Continental Holdings, Inc. today reported March 2011 operational results for United Air Lines, Inc. and Continental Airlines, Inc.

United and Continental's combined consolidated traffic (revenue passenger miles) in March 2011 decreased 2.2 percent versus pro forma March 2010 results on a consolidated capacity (available seat miles) increase of 2.1 percent. The carriers' combined consolidated load factor in March 2011 was down 3.5 points compared to the pro forma results from the same period last year.

United and Continental's March 2011 combined consolidated passenger revenue per available seat mile (PRASM) increased an estimated 8.0 to 9.0 percent compared to the pro forma results from March 2010, while combined mainline PRASM in March 2011 increased an estimated 8.0 to 9.0 percent compared to the pro forma results from the same period last year.

United and Continental's combined March 2011 PRASM results were reduced due to the impact of accounting for our trans-Atlantic joint venture revenue sharing agreement which is accounted for as net revenue in first quarter 2011 and all periods going forward. The impact of this agreement prior to the fourth quarter of 2010 was recorded as an out of period adjustment to operating expenses, and therefore the 2010 revenue results do not reflect the negative impact of the joint venture obligation. Offsetting this reduction is the impact of the required implementation of Financial Accounting Standards Board (FASB) Accounting Standards Update No. 2009-13, Multiple Deliverable Revenue Arrangements -- A Consensus of the FASB Emerging Issues Task Force, as discussed in our February traffic release issued on March 7, 2011.