UAL Corporation loses $82 million in the first quarter

UAL Corporation (Chicago), the holding company for United Airlines, reported results for the first quarter ended March 31, 2010. The company reported a first quarter operating profit of $58 million, excluding non-cash, net mark-to-market hedge gains and certain accounting charges as outlined in note 4 of the attached statement of consolidated operations, the company’s first operating profit in the first quarter since 2000. The company reported a GAAP operating profit of $69 million.

UAL Corporation reported a first quarter net loss of $92 million, or $0.55 per basic share, excluding non-cash, net mark-to-market hedge gains and certain accounting charges of consolidated operations, narrowing its net loss by $479 million compared to the first quarter of 2009. The company reported a GAAP net loss of $82 million, or $0.49 per basic share.

Copyright Photo: Brian McDonough. United’s Boeing 777-222 N776UA (msn 26937) majestically climbs away from the Washington (Dulles) hub.