United Airlines announced preliminary consolidated traffic results for the month and year ended December 2016. For the month, the company announced consolidated revenue passenger miles of 17,595,994,000 compared to 17,148,875,000 a year ago. Consolidated available seat miles were 21,181,626,000 compared to 20,654,783,000 a year ago. Consolidated passenger load factor was 83.1% compared to 83.0% a year ago. Consolidated onboard passengers were 11,915,000 compared to 11,603,000 a year ago. Total cargo revenue ton miles were 258,651,000 compared to 223,908,000 a year ago.

For the year, the company announced consolidated revenue passenger miles of 210,309,428,000 compared to 208,611,208,000 a year ago. Consolidated available seat miles of 253,589,554,000 compared to 250,003,434,000 a year ago. Consolidated passenger load factor was 82.9% compared to 83.4% a year ago. Consolidated onboard passengers were 143,177,000 compared to 140,369,000 a year ago. Total cargo revenue ton miles were 143,177,000 compared to 140,369,000 a year ago.

The company expects fourth-quarter 2016 consolidated passenger unit revenue to decline 1.25% to 1.75% compared to the fourth quarter of 2015. The improvement from revised guidance provided on Dec. 8 is due to stronger than expected close-in bookings and yields during the month of December. Expect a tax rate of approximately 36% for the fourth quarter of 2016. However, the company expects that there will be no material cash taxes due to United's net operating loss carryforwards (NOLs), which were approximately $8 billion as of year-end 2015. Fourth-quarter and full-year 2016 gross capital expenditures were higher than previous guidance in part due to the delivery of a 777-300 ER aircraft in the fourth quarter of 2016 that was originally scheduled for delivery in the first quarter of 2017 and purchase deposits related to the Embraer 175 aircraft purchase agreement announced on November 15, 2016.

For the full year, company expects consolidated passenger unit revenue to decline 5.3% to 5.4% compared to the fourth quarter of 2015. Expect a tax rate of approximately 36%.