United parents loses $510 million, second-worst ever

Friday, April 19th 2002, 12:00 am
By: News On 6

CHICAGO (AP) _ United Airlines parent UAL Corp. reported a $510 million first-quarter loss Friday, its second-biggest setback ever, as it continues to struggle to lure back business travelers.

The loss was the seventh in a row for the nation's second-biggest airline, exceeded only by the $1.16 billion loss in last year's third quarter, when the terrorist attacks threw the industry into crisis. Two of the jetliners hijacked Sept. 11 were United flights.

On Thursday, Northwest and US Airways, the nation's fourth- and sixth-largest airlines, reported first-quarter losses of $171 million and $269 million, respectively. Southwest, the only profitable major airline after last year's recession and terrorist attacks, said it earned $21.4 million, a drop of 82 percent from the same period a year ago.