Tags: United | airlines | earnings | loss

Parent of United Airlines Posts Big Loss on Costly Fuel

Thursday, 26 Apr 2012 08:11 AM

The parent of United Airlines posted a big loss for the quarter as it dealt with higher fuel prices and expenses from integrating with Continental Airlines.

The company lost $448 million, or $1.36 per share. That's twice as big as its loss during the same period last year.

Not counting integration costs, it would have lost $286 million, or 87 cents per share. Analysts surveyed by FactSet expected a loss of $1.12 per share.

Revenue rose 4.9 percent to $8.6 billion, which is what analysts forecast.

United Continental Holdings Inc.. President and CEO Jeff Smisek called it a "difficult quarter" and says things should get better now that so much of the integration is done.

United recently switched two important computer systems that hurt its performance.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved