UAL Corp. reports $179 million February operating loss

UAL Corp. reports $179 million February operating loss    Chicago-based UAL Corp., parent company of United Airlines, reported an operating loss of $179 million for February.
   Bankrupt UAL also reported a net loss of $291 million, including $92 million of reorganization expenses, in its monthly report to the U.S. bankruptcy court Thursday. UAL said it ended February with a cash balance of $2.2 billion, which includes $870 million in restricted cash.
   UAL said fuel expense for the month was $57 million higher than February 2004 on 4 percent lower capacity.
   “Recent fare increases have been modestly encouraging, but the industry still has a long way to go in raising fares and reducing capacity to offset burgeoning fuel costs,” said Jake Brace, executive vice president and chief financial officer.