UAL net loss widens in fourth quarter 2008

UAL Corporation reported results for the fourth quarter ended Dec. 31, 2008. The company reported a pre-tax loss, excluding non-cash, net mark-to- market hedge losses and certain accounting charges, of $547 million for the quarter. This compared to an adjusted pre-tax loss of $105 million in the fourth quarter of 2007, as the recent fall in fuel prices drove losses on fuel hedges put in place earlier in the year when prices were rising to unprecedented levels. Including these items the company’s fourth quarter pre- tax loss was $1.3 billion in 2008 compared to a pre-tax loss of $98 million in 2007.