United first 1/4 loss...

Montague S · #1 22nd April 2008, 10:34 PM

...and its not pretty!

Quote:

CHICAGO, April 22, 2008 /PRNewswire-FirstCall/ -- UAL Corporation (Nasdaq: UAUA - News), the holding company whose primary subsidiary is United Airlines, reported a pre-tax loss of $542 million for the first quarter ended March 31, 2008, $305 million higher than the first quarter of 2007, driven primarily by a $618 million increase in consolidated fuel expense. For the quarter, the company:

http://biz.yahoo.com/prnews/080422/aqtu012.html?.v=48

Andrew M · #2 23rd April 2008, 01:06 AM

Not going to get any easier for them as well, oil prices show no sign of dropping, even though we have been told that they will. Refurb of the current longhaul fleet will be costing a nice packet at well.

Can't get the Yahoo article to load as my current connection is running very slow. So not sure if there were any other contributing factors to the loss

Challenging times ahead

NickN · #3 23rd April 2008, 04:11 PM

Didn't they file for Chapter 11 a while back? How much longer can they afford to keep going?

Kent Broadhead · #4 24th April 2008, 08:34 AM

Surprised no-ones mentioned discussions taking place elsewhere re. a possible UA/CO merger......

Kent

NickN · #5 24th April 2008, 09:26 AM

What would be the incentive for CO to merge with a company who is currently bleeding money?

Kent Broadhead · #6 24th April 2008, 11:02 AM

Expansion target. It appears that, after this UA loss announcement, CO has the higher market capitalisation, and might be seen as a takeover...

Kent