UAL reports first quarter net loss of $579 million

UAL Corporation reported results for the first quarter ended March 31, 2009. UAL reported a first quarter net loss of $579 million excluding non-cash, net mark-to-market hedge gains and certain accounting charges. The company reported a GAAP loss of $382 million including these items. The company reduced its full-year outlook for mainline non-fuel CASM, excluding profit sharing programs and certain accounting items, to an increase of only 1.0% to 2.0% year-over-year – a reduction of approximately $150 million from prior company guidance. The company also reduced its non-aircraft capital expenditure plan for 2009 by $100 million, from $450 million to $350 million.