Looks like with the earlier "temporary" pay cuts they've cut the losses to only about $12 million a day:
UAL loses $382 million in January
United aims to cement labor changes ahead of March 17
CHICAGO, March 4 — UAL Corp., parent of bankrupt United Airlines, said Tuesday it lost $382 million for the month of January as it pushes ahead with labor talks to cement long-term contract changes before a March 17 deadline.
THE NO. 2 U.S. airline reported in a filing with the Securities and Exchange Commission that it had $1.18 billion in operating revenue and $1.51 billion in operating expenses before additional expenses were included.
Just last week, bankrupt US Airways Group said it lost $98.6 million in January on operating revenue of $476 million, which fell short of projections for the month. US Airways plans to emerge from bankruptcy by the end of March.
Faced with such daunting losses, United is trying to cement long-term contract changes before a March 17 deadline when it may formally ask that all labor agreements be scrapped.
Trading in United shares was halted briefly on the New York Stock Exchange Tuesday. The shares have traded around $1 for some time, after peaking at more than $100 in the late 1990s.
March 17 is the date when the airline may formally ask that all labor agreements be scrapped.
United filed for bankruptcy in December after amassing gigantic losses and failing to get the federal government to back a big loan guarantee.
Since then, fighting for survival under new Chief Executive Glenn Tilton, United has embarked on yet another round of talks about concessions with its labor groups, which are currently working under temporary pay cuts. Those reductions are saving the airline around $70 million a month. UAL in January posted its largest annual net loss ever, $3.2 billion for 2002.
Sticky long-term issues revolve mostly around productivity and, especially important for the pilots’ union, what a proposed low-cost carrier will look like...
http://www.msnbc.com/news/880620.asp?sym=UAL