PSA will report a first-quarter loss.

PSA Inc., parent company of Pacific Southwest Airlines, will report a loss for the quarter ending March 31 that will be “substantially larger” than the $448,000 net loss reported during the first quarter a year ago, according to a document filed with the Securities and Exchange Commission. PSA linked the loss to bad weather that adversely affected its airline operations and to costs generated by last year’s airline expansion to seven new destinations. PSA said it will use proceeds from the sale of 2 million shares of common stock and $75 million in senior notes to retire existing debt and to bolster its gas and oil field holdings.