Transportation
UAL Corp. announced a first quarter net loss of $537 million
United Airlines parent , versus $152 million a year earlier. The company blamed a $618 million increase in fuel expenses. United now plans to remove 30 narrowbody aircraft from its fleet and reduce domestic mainline capacity by 9 percent this year, following a 5 percent cut at the end of 2007. United is targeting $400 million in non-fuel cost reduction, including hundreds of job cuts. "The path to sustainable profitability requires us to fundamentally overhaul every facet of our business," said CEO Glenn Tilton.