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UAL Corp. posts $306 million loss.(Construction Corner)

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| June 01, 2006 | Walters, G. Scott | COPYRIGHT 2006 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

United Airlines parent UAL Corp. reported a larger than expected first-quarter loss a loss of $306 million, before reorganization items, despite the completion of its 38-month bankruptcy overhaul. UAL blames the shortfall on record fuel prices, stock-based compensation expense and a change in accounting methods. Company executives said United's costs remain too high, and have pledged to cut $400 million in expenses by next year by streamlining functions, spending less on advertising and eliminating an unstated number of salaried and management jobs.

UAL Revenue actually rose 14 percent to $4.47 ...

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