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Old 10-18-2002, 02:03 PM   #1
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UAL Reports $889 Million 3Q Loss

UAL Reports $889 Million 3Q Loss

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The parent company of ailing United Airlines reported an $889 million third-quarter loss Friday, its second-biggest setback ever, reflecting the continued bleak environment for U.S. carriers.

It was the ninth consecutive quarterly loss for UAL Corp., which is negotiating with its unions to shed billions of dollars in costs in a bid to avoid filing for bankruptcy.

Its only worse quarterly result was the $1.16 billion loss in last year's third quarter, when the terrorist attacks threw the airline industry into a tailspin from which it has yet to recover.
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