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UAL reports 2Q loss of $2.73 billion
posted 9:03 am Tue July 22, 2008 - MINNEAPOLIS
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United Airlines parent UAL Corp. says it lost $2.73 billion in the second quarter on a combination of accounting charges and high fuel prices.The nation's second-largest airline said Tuesday its loss of $21.47 per share compared with a quarterly profit last year of $274 million, or $1.83 per share.
Revenue rose 3 percent to $5.37 billion, from $5.21 billion a year ago.
United's loss included a non-cash special accounting charge of $2.3 billion.
Analysts surveyed by Thomson Financial expected UAL to lose $2.05 per share on revenue of almost $5.39 billion. Analysts' estimates generally exclude one-time charges. United lost $1.19 per share without the accounting charges.
United's loss included a non-cash special accounting charge of $2.3 billion.
Analysts surveyed by Thomson Financial expected UAL to lose $2.05 per share on revenue of almost $5.39 billion. Analysts' estimates generally exclude one-time charges. United lost $1.19 per share without the accounting charges.
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