United loses $609M in 1Q; fares don't cover costs

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Associated Press

Posted on April 24, 2014 at 5:01 AM

Updated Thursday, Apr 24 at 5:04 AM

United Airlines is the one U.S. carrier that can't seem to get its act together, losing $609 million during the first three months of this year.

The airline, in part, blamed "historic severe" winter weather for its loss. But by comparison, Delta Air Lines made $213 million in the quarter, despite dealing with the same nasty storms.

Chicago-based United is still struggling following its 2010 merger with Continental Airlines. In the first quarter, its cost for each mile passengers flew rose 1 percent, but its related revenue fell 2 percent.

United lost $1.66 per share, worse than the $1.26 per share it lost during the same period last year. Excluding special items, the loss was $1.33 per share, barely beating the $1.35 loss expected by Wall Street analysts.

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