United announces first-quarter 2012 results

United Continental Holdings reported a first-quarter 2012 net loss of $286m, excluding $162m of net special charges consisting primarily of integration-related costs. Including special charges, UAL reported a first-quarter 2012 net loss of $448m. UAL first-quarter consolidated passenger revenue increased 5.5% year-over-year while consolidated fuel expense increased 20.8%. UAL ended the first quarter with $7.8bn in unrestricted liquidity.