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UAL CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS

 UAL CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS
 CHICAGO, July 30 /PRNewswire/ -- UAL Corp., the holding company


whose primary subsidiary is United Airlines, today reported a second quarter net loss of $95.1 million, or $3.94 per share of common stock. The results compare with net earnings in the second quarter last year of $52.7 million, or $2.23 per share.
 "Our clearly unsatisfactory second quarter results reflect the severe impact of revenue-dilutive pricing activity in the U.S., as well as the effects of the recessionary environment throughout much of the world. We expect these same factors to have a negative effect on our results for at least the balance of 1992. Unless this situation is reversed, alternative actions to reduce our expenses will have to be considered," UAL Chairman and Chief Executive Officer Stephen M. Wolf said.
 UAL said operating revenues in the second quarter this year were $3.14 billion compared with $2.95 billion in the same quarter a year ago, while operating expenses were $3.21 billion in the second quarter, compared with $2.89 billion last year. The operating loss for the quarter was $73.9 million compared with operating earnings of $63.7 million in the same quarter last year.
 United's cost per available seat mile in the second quarter remained flat, at 9.4 cents.
 United's second quarter 1992 revenue passenger miles were up slightly, from 21.2 billion last year to 22.6 billion this year, while available seat miles increased 9.6 percent from 30.7 billion to 33.6 billion.
 For the first six months of the year, UAL Corp. reported a net loss of $187.4 million, or $7.81 per share of common stock, compared with a net loss last year of $104.3 million, or $4.57 per share.
 The first six months' operating revenues were $6.11 billion compared with $5.52 billion in the same period last year, while operating expenses were $6.34 billion, compared with $5.72 billion. Operating loss for the first six months was $223.6 million, compared with an operating loss last year of $205.3 million.
 -0- 7/30/92 R
 /CONTACT: Joe Hopkins, 708-952-5770, or night, 708-952-4088; or investor, Pamela Hanlon, 708-952-7501, both of UAL/
 /FIRST ADD -- TABULAR MATERIAL -- TO FOLLOW/
 (UAL) CO: UAL Corp. ST: Illinois IN: AIR SU: ERN


SM -- NY040 -- 5178 07/30/92 14:28 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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