United Airlines parent loses $476 million, cites progress 2 hours, 24 minutes ago DAVE CARPENTER CHICAGO (AP) - United Airlines' parent company posted a $476 million US loss for the fourth quarter, extending its string of money-losing quarters to 14, but cited "significant progress" and said it remains on target to emerge from bankruptcy protection by midyear. Related Quotes DJIA NASDAQ ^SPC 10609.92 2116.04 1144.05 -92.59 -37.79 -11.33 delayed 20 mins - disclaimer Quote Data provided by Reuters High Tech Sports Technology is changing sports-- for better or worse. Plus, tech tools for athletes and sports fans alike. The figures released Tuesday left UAL Corp. with a whopping $2.81 billion loss for 2003, its second-worst ever and only slightly better than the $3.21 billion deficit for 2002, when heavy losses forced it to make the largest bankruptcy filing in aviation history. But chief executive Glenn Tilton said the restructuring actions and improved results are building a "dramatically different" company under the protection of federal bankruptcy court - one more focused on costs and customers than before. The net loss for the final three months of 2003 amounted to $4.33 a share, compared with a loss of $1.47 billion, or $20.70 per share, for the same period a year earlier. Results included $225 million in one-time charges related mostly to breaking aircraft leases as part of its cost-cutting restructuring. Excluding those items, the loss was $251 million. Analysts surveyed by Thomson First Call had expected a per-share loss of $2.58. Revenues rose to $3.62 billion from $3.47 billion, including a 10 per cent increase in passenger revenue over a year earlier. Tilton cited an improved operating loss of $135 million in the fourth quarter as evidence of United's success in cutting costs and raising revenue. The company also reduced unit costs by 17 per cent and ended the quarter with a cash balance of $2.4 billion. In December, the company had a net loss of $272 million, including $155 million in restructuring items. For the full year, the loss amounted to $27.36 a share, compared with the record loss a year earlier of $53.55 per share. Revenues were $13.7 billion, down four per cent, from about $14.3 billion. Roger EWROPS