Company posts $1.16 billion loss

Thursday, Nov. 1, 2001 | 10:24 a.m.

United Airlines and Delta Air Lines reported massive third-quarter losses today.

Large cash infusions from a federal bailout helped their performances.

United's parent, UAL Corp. of Elk Grove Village, Ill., had its worst quarterly performance in the company's 75-year history with a $1.16 billion loss in the third quarter.

Atlanta-based Delta reported a $259 million third-quarter loss that was eased by the federal assistance and investment gains even though revenues were decimated by the Sept. 11 terrorist attacks.

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