United Continental posts a loss - Hawaii News Now - KGMB and KHNL

United Continental posts a loss

By Howard Dicus - bio | email

CHICAGO and HONOLULU (HawaiiNewsNow) - United Continental, parent company of both airlines, lost $136 million in the first quarter, and blamed higher jet fuel and lower Japan traffic.

The company said Thursday its revenue rose almost 11 percent from the winter quarter last year but its jet fuel costs rose 26.5 percent, offsetting fare hikes.

CEO Jeff Smisek said the Japan calamity reduced passenger revenue by about $30 million.

"I especially want to thank my co-workers who conducted our Japan operations, overcoming tremendous personal hardship to help our customers and keep our operation safe and reliable after the tragic earthquake and tsunami," he said.

The quarter at a glance:

  • Revenue: $8.2 billion. Year before: $7.4 million.
  • Net loss: $136 million. Year before loss: $82 million.
  • Per share loss: 41 cents. Year before loss: 49 cents.

A day after American Airlines posted a $436 million first quarter loss and announced plans to reduce capacity by 1 percent, United Continental said it would reduce its own capacity 1 percent in May and another 4 percent in September.

United Airlines flies more seats to Hawaii than any other airline and has direct service from Chicago, Denver, San Francisco, Los Angeles, Tokyo and Osaka, while Continental Airlines has nonstops to Hawaii from Los Angeles, Houston, New York and Guam. The two carriers are in the process of integrating their operations.

Copyright 2011 by HawaiiNewsNow. All rights reserved.

  • Hawaii News Now headlinesNewsMore>>

  • Trump talks tougher, now says he warned Putin on meddling

    Trump talks tougher, now says he warned Putin on meddling

    Wednesday, July 18 2018 12:31 AM EDT2018-07-18 04:31:41 GMT
    Wednesday, July 18 2018 7:38 PM EDT2018-07-18 23:38:31 GMT
    (AP Photo/Andrew Harnik). President Donald Trump speaks to members of the media as he meets with members of Congress in the Cabinet Room of the White House, Tuesday, July 17, 2018, in Washington. Trump says he meant the opposite when he said in Helsink...(AP Photo/Andrew Harnik). President Donald Trump speaks to members of the media as he meets with members of Congress in the Cabinet Room of the White House, Tuesday, July 17, 2018, in Washington. Trump says he meant the opposite when he said in Helsink...

    Rebuked as never before by his own party, including a stern pushback from usually reserved Senate Majority Leader Mitch McConnell, the U.S. president sought to end 27 hours of recrimination by delivering a rare admission of error.

    More >>

    Rebuked as never before by his own party, including a stern pushback from usually reserved Senate Majority Leader Mitch McConnell, the U.S. president sought to end 27 hours of recrimination by delivering a rare admission of error.

    More >>
  • Thai boys recount cave rescue: Voices in dark, then 'hello'

    Thai boys recount cave rescue: Voices in dark, then 'hello'

    Wednesday, July 18 2018 3:11 AM EDT2018-07-18 07:11:51 GMT
    Wednesday, July 18 2018 7:35 PM EDT2018-07-18 23:35:57 GMT
    In a press conference on Wednesday after they were released from the hospital, the boys apologized to their parents. (Source: NBT WORLD/CNN)In a press conference on Wednesday after they were released from the hospital, the boys apologized to their parents. (Source: NBT WORLD/CNN)

    Divers found the soccer team 10 days after they were trapped in a flooded cave, and rescuers eventually extracted them over three days, concluding July 10.

    More >>

    Divers found the soccer team 10 days after they were trapped in a flooded cave, and rescuers eventually extracted them over three days, concluding July 10.

    More >>
  • Iceberg looming over Greenland village spotted from space

    Iceberg looming over Greenland village spotted from space

    Tuesday, July 17 2018 3:50 PM EDT2018-07-17 19:50:45 GMT
    Wednesday, July 18 2018 7:31 PM EDT2018-07-18 23:31:53 GMT
    (esa via AP). The satellite image, which was captured by Sentinel-2A on July 9, 2018, provided by European Space Agency esa on Tuesday, July 18, 2018 shows a huge iceberg perilously close to the village of Innaarsuit on the west coast of Greenland. If ...(esa via AP). The satellite image, which was captured by Sentinel-2A on July 9, 2018, provided by European Space Agency esa on Tuesday, July 18, 2018 shows a huge iceberg perilously close to the village of Innaarsuit on the west coast of Greenland. If ...
    An iceberg that drifted perilously close to a remote Greenland village is so big, it can be seen from space.More >>
    An iceberg that drifted perilously close to a remote Greenland village is so big, it can be seen from space.More >>
Powered by Frankly