United Continental reports loss as traffic fell

The parent company of United Airlines is reporting a $620 million loss in the fourth quarter as passengers stayed away following its problems earlier in the year with integrating Continental.

It posted a full-year loss of $723 million, too, almost wiping out its $840 million profit from 2011.

The fourth-quarter loss worked out to $1.87 per share. Excluding special items the loss would have been 58 cents per share, matching expectations of analysts surveyed by FactSet.

Superstorm Sandy cut $85 million from profits in 2012's final quarter.

United's struggles with technology issues -- tied to the Continental integration -- caused some customers to fly on other airlines. Traffic fell 3.2 percent in the fourth quarter.

A year ago United Continental Holdings Inc. (UAL) lost $138 million, or 42 cents per share.