United writes off $412 million after losing Newark bulwark

The U.S. argued that United controlled about 900 of the 1,200 takeoff and landing authorizations allocated to the airport by the Federal Aviation Administration, while no other airline held more than 70.

Newark had the highest average fares ($459) of the largest U.S. airports in the fourth quarter of 2015, the latest data available, from the Bureau of Transportation Statistics.

The legal action became moot in April, however, when the FAA decided to lift all the restrictions at Newark, essentially opening it to as many flights and airlines that could secure gate space at the airport.