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Home mySSlife Travel United Airlines parent lost $382 million in 1Q

United Airlines parent lost $382 million in 1Q

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MINNEAPOLIS (AP) — United Airlines lost $382 million during the first quarter, as travelers pulled back on their flying.

The loss reported Tuesday at the unit of UAL Corp.'s was $2.64 per share, versus a loss of $549 million, or $4.55 per share during the same period last year. But if not for an accounting change, the loss would have been $4.45 per share this year.

Revenue fell 21.7 percent to $3.69 billion, from $4.71 billion a year ago.

Analysts surveyed by Thomson Reuters were expecting a loss of $4.45 per share on revenue of $3.8 billion.

United says demand fell across all types of travel, but it was especially hurt by a 30 percent drop in first- and business-class travel.

 Copyright 2009 The Associated Press.

 

 

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