United-Continental posts Q1 loss
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United-Continental Holdings has posted its Q1 2011 results, with net losses widening to US$213 million, from US$183 million in the same period last year. The newly-merged airline group actually recorded a 10.8% increase in revenues, which totalled US$8.2 billion, US$7.2 billion of which was passenger revenue. The airline’s costs however, also increased. United-Continental’s total fuel bill jumped 28.4% year-on-year to US$2.7 billion. Despite the increased expenses, United’s Vice President and Chief Financial Officer, Zane Rowe, said he was happy with the performance. “The whole team did a good job controlling costs while running a great operation despite significant challenges this quarter,” said Rowe. “We will continue to improve our cost performance and focus on further operational efficiencies.”
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