United Airlines parent company posts loss

New signage is shown on a United Airlines boarding gate at San Francisco International Airport in San Francisco July 13, 2011. AP Photo

(AP) The parent of United Airlines (UAL) posted a big loss for the quarter as it dealt with higher fuel prices and expenses from integrating with Continental Airlines.

The company lost $448 million, or $1.36 per share. That's twice as big as its loss during the same period last year.

Not counting integration costs, it would have lost $286 million, or 87 cents per share. Analysts surveyed by FactSet expected a loss of $1.12 per share.

Revenue rose 4.9 percent to $8.6 billion, which is what analysts forecast.

Fuel hedging helps Delta land a profit
US Airways books profit on gain

United Continental Holdings Inc.. President and CEO Jeff Smisek called it a "difficult quarter" and says things should get better now that so much of the integration is done.

United recently switched two important computer systems that hurt its performance.

Comments

CBSN Live

pop-out
Live Video

Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

Market News

Stock Watchlist