Printer Friendly

UAL REPORTS FIRST QUARTER RESULTS

 UAL REPORTS FIRST QUARTER RESULTS
 CHICAGO, April 30 /PRNewswire/ -- UAL Corp. (NYSE: UAL), the holding


company whose primary subsidiary is United Airlines, today reported a first quarter net loss of $92.3 million, or $3.86 per share of common stock. These results compare to a net loss in the first quarter of 1991 of $157.0 million, or $7.05 per share.
 UAL Corp. Chairman and President Stephen M. Wolf commented, "Although significantly improved from our record first quarter loss last year, when industry traffic, particularly in the Pacific, was severely impacted by the outbreak of the Persian Gulf war, these results are, by any measure, woefully unsatisfactory.
 "The anemic economic recovery in the United States, where United has about two-thirds of its capacity, coupled with pricing actions of certain carriers, had a very significant impact on first quarter revenue. Under these circumstances, we are pleased that we have planned only modest domestic growth for 1992. In the first quarter, we increased domestic capacity by less than 2 percent from year ago.
 "Our primary focus this year is on further development of our international route system, where United's first quarter capacity grew by 39 percent and traffic by 55 percent."
 UAL Corp.'s first quarter operating revenues were $2.97 billion versus first quarter 1991 revenues of $2.56 billion. First quarter operating expenses were $3.12 billion versus first quarter 1991 expenses of $2.83 billion. A first quarter operating loss of $149.7 million compares to an operating loss in the first quarter of 1991 of $269.0 million.
 United's revenue passenger miles were up 14.3 percent and yield (passenger revenue per mile flown) was up 2.8 percent to 13.60 cents. Available seat miles were up 10.5 percent. Passenger load factor of 61.0 percent is up 2.1 points from 58.9 percent in 1991.
 The financial data are unaudited.
 -0- 4/30/92
 /CONTACT: Lynn Martenstein, 708-952-4933; Joe Hopkins, 708-952-5770; or Ann Thoma (investors), 708-952-7501, all of UAL; or after hours, UAL corporate communications, 708-952-4088/
 /FIRST AND FINAL ADD TO FOLLOW/
 (UAL) CO: UAL Corp. ST: Illinois IN: AIR SU: ERN


GK -- NY063 -- 4907 04/30/92 12:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 30, 1992
Words:369
Previous Article:ASC INC. RELEASES CONVERTIBLE CAR SALES FIGURES FOR U.S. AND EUROPE
Next Article:FORD OFFICIAL URGES COOPERATION


Related Articles
UAL COMMENTS ON 1991 RESULTS
UAL REPORTS 1991 RESULTS
UAL CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS
UAL CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS
UAL CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS
UAL CORPORATION REPORTS THIRD QUARTER FINANCIAL RESULTS
UAL CORP. REPORTS FIRST QUARTER FINANCIAL RESULTS; OPERATING LOSS NARROWS FROM A YEAR AGO
UAL CORP. REPORTS FOURTH QUARTER, FULL YEAR 1993 FINANCIAL RESULTS
UAL Corporation's Strong First-Quarter Earnings Continue Record-Breaking Trend

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters