United Continental trims first quarter losses

United Continental trims first quarter losses

Losses as United Continental were reduced in the first quarter as the world's largest airline gained from lower fuel prices and higher passenger revenue.

The carrier lost $417 million in the first three months against $448 million in the same period last year. Revenue rose to $8.7 billion from $8.6 billion.

Expenses from aircraft fuel fell 5.5% during the three months.

Chief executive Jeff Smisek said it had been a “difficult quarter financially”.

However, the carrier recorded its best first-quarter punctuality performance in more than a decade, with 81% of flights arriving within 14 minutes of the scheduled time.

“Our co-workers pulled together in the first quarter to significantly improve our operational performance and customer service despite challenging weather and high load factors,” Smisek said.

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