UAL Corp. posts $47 million April operating loss
Chicago-based UAL Corp., parent company of United Airlines, reported an operating loss of $47 million in April, marking a $28 million year-over-year improvement.
UAL also reported a net loss of $124 million, including $28 million of reorganization expenses, in its monthly report to the U.S. bankruptcy court Thursday. UAL said it ended April with a cash balance of $2.4 billion, which includes $866 million in restricted cash.
UAL said fuel expense for the month was $94 million higher than April last year on 4 percent lower capacity.
“Given the challenge of high fuel prices, our success lowering non-fuel unit expenses, increasing unit revenue, and building our cash balance is encouraging,” said Jake Brace, executive vice president and chief financial officer.
