Updated from 11:52 a.m. EDT
United Airlines parent UAL(UAUA Quote) beat analysts' third-quarter estimates and said it is well-positioned for the fourth quarter as a result of deep capacity cuts.
Excluding items, including noncash mark-to-market losses on fuel-hedging contracts, the carrier loss $252 million, or $1.99 a share. Analysts surveyed by Thomson Reuters had estimated a loss of $2.48. Revenue rose 0.7% to $5.6 billion and slightly exceeded the consensus projection.
When the special items were counted, UAL lost $779 million, or $6.13 a share. That included $519 million in mark-to-market losses as a result of the decline in oil prices during the quarter. The losses haven't been realized. Hedges that settled during the quarter produced a gain of $17 million. The contracts still outstanding have a fair value of negative $230 million. ...
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