United parent posts $1.7B loss

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United parent posts $1.7B loss
The parent company of United Airlines continued to bleed red ink as restructuring costs took a toll on their third quarter. 

 

 
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UAL Corp. lost $1.77 billion, or $15.26 a share, in the quarter. In the third quarter last year, the company lost $274 million, or $2.38 a share. The loss includes a $1.7 billion charge related to its reorganization to emerge from Chapter 11 bankruptcy. 

It was the company's 21st-straight quarter posting a loss. 

Revenues were up 8.1 percent, coming in at $4.7 billion, up from $4.3 billion a year ago. 

For the nine-month period ended Sept. 30, UAL lost $4.3 billion, or $36.82 a share, on revenues of $13 billion. A year ago, the company lost $980 million, or $8.77 a share, on revenues of $12.4 billion. 

Chicago's UAL Corp. is the parent of United Airlines, the largest carrier at Los Angeles International Airport. 



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