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UAL Reports $1.1 Billion Net Loss for 209January 27, 2010 By: George Dooley
UAL Corporation, the holding company for United Airlines, reported results for the fourth quarter ending December31, 2009 including a fourth quarter net loss of $176 million. UAL reported a full year 2009 net loss of $1.1 billion, excluding non-cash, net mark-to-market hedge gains and certain accounting charges. UAL said this was an improvement of $645 million compared to the full year 2008. The company reported a full year 2009 GAAP net loss of $651 million, an improvement of $4.7 billion compared to full year 2008.
"Against a backdrop of extraordinary challenges in 2009, we responded with our best work. This has been a year of solid progress against our priorities of building network strength in key geographies, creating and maximizing revenue opportunities, and improving operational performance and customer satisfaction metrics, such as finishing first among network carriers in on-time performance," said Glenn Tilton, UAL Corporation chairman, president and CEO. "We have established tight cost control across the company, and, with strengthened liquidity, we are well positioned to continue to take actions to create a stronger United and improve our competitive position."