UAL Inc., parent of United Airlines, said profits for the year surged 98% over the previous year. UAL said its 1984 results included a $96-million net reduction in expenses stemming from a previously announced decline in the amount UAL needed to pay into United Airlines' pension plan. United Airlines' 1984 earnings from operations jumped to $564.1 million from $160.1 million in 1983. UAL said the airline's gain reflected the strong U.S. economy, improvements in United's cost structure and higher fares, which bolstered United's average yield. Chicago-based UAL also has interests in hotels, real estate and business services.
New York-based W. R. Grace & Co. posted a 22% profit gain for the year, while Celanese Corp. reported a 44% gain despite a sharp decline in fourth-quarter earnings. Grace said that its operating results from its core business--specialty chemicals--rose 3% for the year but that competition in the U.S. fluid cracking catalyst business and the adverse impact of the strong dollar on European chemical operations moderated the increase. New York-based Celanese said its full-year results reflected improvements in all of its four major product groups.