Passengers check in at the United Airlines ticket counter, at Logan International Airport in Boston in July. (AP Photo/Michael Dwyer)

By Julie Johnsson | Spurred by strong revenue growth, United Airlines parent UAL Corp. performed better than analysts
had expected as it narrowed its first quarter loss to $92 million, or
$0.55 cents per share, in earnings reported Tuesday. That’s an
improvement from the $382 million net loss, or $2.64 per share, that
United reported a year ago.

United also reported an operating profit of $58 million, excluding
non-cash charges. That’s the strongest first quarter showing in a
decade by United, which traditionally sees passenger demand slow during
the winter months.
 
United’s passenger revenue jumped 15 percent to $3.87 billion versus
prior-year results, even though its capacity declined 3.3 percent.
 
“We are pleased to report an operating profit in what is traditionally
a weak quarter for United compared to our peers,” said Glenn Tilton,
chairman, president and CEO of United parent company UAL Corp.
 
United said it raised $700 million in April, bringing its total cash reserves to $4.5 billion.