UAL Corp. posted a fourth quarter net loss of $1.3 billion

United Airlines parent versus a net loss of $53 million a year earlier. The company cited nearly $1 billion in losses related to fuel hedges "as the recent fall in fuel prices drove losses on hedges put in place earlier in the year to mitigate the steep increase in prices that had occurred in the second and third quarters of 2008." For full-year 2008, the company's net loss topped $5.3 billion as compared with a $403 million net profit in 2007.