Source: Los Angeles Business Author: 03/20/2009
Subject Concerned: Airlines Aviation Fuel
UAL Corp., the parent company of United Airlines, will take an US$80 million cash loss in the first quarter related to fuel hedges, according to a Reuters report.
The hedges were set up during peak energy prices last year, after which, prices have dropped.
Fuel hedges were a contributing factor in the company's fourth-quarter loss of US$1.3 billion.
United is the largest airline serving Los Angeles International Airport.