OREANDA-NEWS. In the fourth quarter, UAL generated USD 1.1 billion in operating cash flow and USD 324 million in free cash flow, and ended the quarter with USD 6.5 billion in unrestricted liquidity, including USD 1.35 billion of undrawn commitments under its revolving credit facility.

During the fourth quarter, the company continued to invest in its business through gross capital expenditures of USD 791 million, excluding fully reimbursable projects, including approximately USD 300 million in aircraft-related deposits that shifted to the fourth quarter of 2015 from the first quarter of 2016.

The company spent USD 520 million toward its USD 3 billion share repurchase authorization in the fourth quarter. For the year, United repurchased approximately USD 1.2 billion worth of shares.

UAL earned a 21.0 percent return on invested capital for the 12 months ended Dec. 31, 2015.