UAL Posts Loss, Cites Fuel Prices

United Airlines’ parent company reported a wider loss of $664 million for the fourth quarter Thursday and a narrower $1.6-billion deficit for the full year, blaming high fuel costs and continued pressure on fares.

It is the 18th straight quarterly loss for UAL Corp., which is trying to emerge from 26 months in Chapter 11 bankruptcy.

The net loss for the final three months of 2004 amounted to $5.73 a share and was larger than the loss of $476 million, or $4.33 a share, for the same period a year earlier. Excluding special items, the quarterly loss was $553 million, or $4.77 a share.

Revenue for the fourth quarter rose 5% to $4 billion, from $3.8 billion.

The company said its fuel costs for the fourth quarter increased nearly 58% to $842 million.

But United’s $1.6-billion loss for the year was smaller than the net loss of $2.8 billion in 2003. United lost $3.21 billion in 2002, when it filed for bankruptcy.

Shares of UAL were unchanged at $1.22 in over-the-counter trading.