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United Faces a Tough Turnaround as Unit Revenue Weakens

Company forecasts a decline of 1 percent to 3 percent in the fourth quarter

United Continental Holdings Inc. may be in for more turbulent times ahead. Shares tumbled on Thursday after management skirted Wall Street’s questions on how it would get its turnaround back on track following an underwhelming earnings report the day before. For the fourth quarter, the company forecast that passenger revenue for each seat flown a mile (also known as unit revenue) will fall 1 percent to 3 percent, after a third-quarter decline of 3.7 percent, a drop that followed a short-lived recovery.

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