UAL insolvency costs Slam loss of $ 1.77B
Without the sum of $ 1.8 billion in restructuring costs for the period UAL, said they had a net profit of $ 68 million. Operating income $ 245 million were better than the result of the third quarter of 2004. The company said it has spent more than $ 405 million for the reduction of fuel consumption in the fall quarter or a year ago, the result would have been even better.
The lease cost of restructuring the State net loss by far the biggest of all USA airline to report third quarter and surpassed Northwest Airlines Corp. ’s $ 475 million deficit. The parent company of three companies _ Carrier Southwest Airlines, Alaska Airlines and Continental Airlines _ has all the profits, while American Airlines parent AMR Corp. had a loss of $ 153 million.
Have yet to report to Delta Air Lines Inc. and U.S. Airways Group Inc., which now includes the former America West. Both are scheduled for November 9 results
United has been in Chapter 11 bankruptcy since December 2002. It provides a profit next year for the first time since 2000, but it is on the basis of a business plan that foresees the price of crude oil from an average $ 50 a barrel _ nearly $ 10 under current level.
The company lost $ 14.2 billion since the last power-up, a profit in the second quarter of 2000.
Brace said the remaining challenges in bankruptcy for the most part the “nuts and bolts to get final approval for the plan of reorganization undertaken by creditors, a process which is the culmination of the consultation in January .
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