Driven by a $773 million increase in consolidated fuel expense, UAL Corporation reported a net loss of $2.7 billion or $151 million, excluding certain largely non-cash accounting charges.
UAL announced further capacity cuts and the retirement of the entire B737 fleet as well as six B747s. In total, United will retire 100 aircraft and will reduce fourth-quarter mainline domestic capacity 15.5 percent to 16.5 percent year-over-year. In conjunction with the capacity reductions, the company expects to reduce its workforce by approximately 7,000 by year-end 2009.
