NYTimes.com Article: UAL Posts $889 Million Third-Quarter Loss

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UAL Posts $889 Million Third-Quarter Loss

October 18, 2002


By REUTERS






Filed at 8:11 a.m. ET

CHICAGO (Reuters) - UAL Corp. (UAL.N), parent of No. 2 U.S.
air carrier United Airlines, on Friday reported an $889
million quarterly loss on weak traffic and fares, capping a
week of major airline losses.

Elk Grove Village, Illinois-based UAL, which has warned of
a possible autumn bankruptcy, said the third-quarter net
loss amounted to $15.57 per share, compared with a net loss
of $1.2 billion, or $21.43 a share, a year earlier.

Before special items, the per share loss was $8.82.


Analysts had forecast UAL to post a loss between $5.00 and
$9.00 a share in the quarter, with an average expected loss
of $7.42 a share, according to market research firm Thomson
First Call.

Airline stocks have plummeted in the year following the
Sept. 11, 2001, attacks as carriers struggle to attract
passengers and raise revenues amid low demand for air
travel.

UAL shares lost 81 percent of their value in the third
quarter, while the American Stock Exchange airline
indexfell about 54 percent.

http://www.nytimes.com/reuters/business/business-airlines-united-earns.html?ex=1035945376&ei=1&en=c4ee26a225febb7e



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