AirCal expects to report a fourth-quarter loss.

The Newport Beach-based airline said it has been hurt by renewed fare wars. It will be the first quarterly loss that the regional carrier has incurred in two years. AirCal officials did not indicate how large the loss will be. However, John Pincavage, an airline analyst with Paine Webber in New York, predicted earlier in the week that AirCal would have a loss of between $3 million and $4 million for the quarter and net of about $11 million for the year.