UAL Expects Loss to Be Wider Than Forecast
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UAL Corp., parent of No. 2 U.S. carrier United Airlines, expects its second-quarter loss to be wider than it anticipated because consumers traveled less and labor and fuel costs rose.
UAL, which in April forecast a loss for the quarter, now expects “an even greater” drop in results from a year earlier, it said. The Chicago-based company’s second-quarter loss is estimated at $3.40 a share, according to the average of analyst forecasts in a First Call/Thomson Financial survey.
UAL shares fell $1.37 to close at $31.72 on the NYSE.
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