United only US airline to post a Q1 loss

Victoria
By Victoria April 29, 2013 12:34

United only US airline to post a Q1 loss

 

United Continental Holdings (UAL) posted a first-quarter loss –the only one of the major US carriers to do so.

United posted an adjusted loss of $325 million, or 98 cents a share, on the back of a 1.3% rise in total operating costs. Sales rose 1.4% to $8.7 billion.

 

Losses at United included costs of $11 million for the grounding its six 787 since January 16 as well as a 7.6% increase in aircraft maintenance costs and a 12% increase in wages.

 “We are focused companywide on operating more efficiently,” United Chief Financial Officer John Rainey said in a statement.

Victoria
By Victoria April 29, 2013 12:34
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