UAL Q1 Operating Revenues Up 15%
The company posted a net loss of $82m for the first quarter of 2010, or $0.49 per diluted share, compared to $382m, or $2.64 per diluted share, for the prior year period. Earnings from operations were $69m, compared to loss of $282m for the year ago period.
The company expects both mainline and consolidated CASM, excluding fuel, profit sharing and certain accounting charges for the full year 2010 to be up two to three percent year-over-year. The company expects consolidated CASM, excluding fuel, profit sharing and certain accounting charges for the second quarter 2010 to be up 3.8 to 4.8 percent year-over-year.
Glenn Tilton, chairman, president and CEO of UAL Corporation, said: “We are pleased to report an operating profit in what is traditionally a weak quarter for United compared to our peers, clearly reflective of our commitment to drive systemic improvements that are delivering results across the company.
“We are committed to margin leadership, having produced the best net margin of the five major carriers this quarter, and are doing the work to put our company on the path to sustained profitability.”
Will UAL further reduce net loss in Q2?
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