"United Airlines Posts Wider 4Q Loss"

Friday, March 18, 2005

United Airlines Posts Wider 4Q Loss 
The Associated Press


United Airlines said Friday that its loss widened in the fourth quarter to
$819 million from $630 million a year ago. 

The carrier's parent company, UAL Corp., posted a loss of $741 million for
the quarter, compared with a loss of $475 million a year ago. 

United Airlines, which has been operating under Chapter 11 bankruptcy
protection since December 2002, said its loss from operations for the
quarter was $655 million, compared with $231 million a year earlier.
Operating revenue rose to $3.89 billion from $3.68 billion. 

In its annual report filed with the Securities and Exchange Commission,
United Airlines said fourth-quarter 2004 results include a charge of $47
million from adjusting its Mileage Plus liability. The company also
recognized a gain from the sale of its investment in Orbitz of $158 million
and recorded $226 million in reorganization items during the quarter. The
fourth quarter also includes a curtailment charge of $152 million related to
the Pension Benefit Guaranty Corporation's move to take over the pension
plan for United's active and retired pilots. 

In the year-ago quarter, United Airlines had a gain of $78 million from
selling its investment Orbitz, a charge for writing down aircraft leased to
Air Canada and $294 million in reorganization items. 

For the full year, United Airlines posted a narrower loss of $2 billion in
2004, compared with a loss of $3 billion in 2003. The company's loss from
operatons was $1.17 billion, compared with $1.61 billion a year ago. 

Total operating revenue rose to $16.03 billion from $14.6 billion. Passenger
revenue for the airline increased to $12.48 billion from $11.3 billion. 

Parent UAL posted a narrower loss of $1.72 billion in 2004, compared with a
loss of $2.81 billion a year earlier.


 Do you have an opinion about this story?
Share it with other readers in our CAA Discussion Forums

http://www.californiaaviation.org/dcfp/dcboard.php


*****************************************