United Airlines reports Q1 2012 losses

United Airlines flights failed to put up a strong showing in the first quarter of 2012. The airline recently announced its operational results for Q1 this year and reported significant losses.

The airline attributed the loss to high fuel costs saying that it absorbed more than half a billion dollars worth of increased fuel costs. The airline also cited that converting to a new reservation system might have resulted in low sale of air tickets.

Providing the details of Q1 2012 operational results, United Airlines said that it suffered a loss of $448 million, or $1.36 per share, as compared to a loss of $213 million, or 65 cents per share, in Q1 last year. The airline stated that excluding $162 million in charges primarily related to integrating United and Continental airlines, the loss was $286 million or 87 cents per share. However, analysts had expected a loss of $1.04 cents per share. The airline also disclosed that consolidated fuel expense in Q1 2012 increased 20.8 percent, or $557 million, y-o-y.