CHICAGO, April 25 (Reuters) - UAL Corp., parent of No. 2 U.S. carrier United Airlines, reported a quarterly loss on Wednesday due in part to weather-related flight cancellations.

UAL said its loss amounted to $152 million, or $1.32 per share, compared with a year-ago profit that was exaggerated by bankruptcy reorganization items.

The airline exited bankruptcy in February 2006, and year-over-year financial comparisons are skewed by accounting related to that. UAL also issued new shares on its emergence from bankruptcy in February 2006.

UAL estimated that cancellations due to severe winter storms reduced passenger revenue by about $32 million.

The company ended the quarter with cash and short-term investments worth $4.2 billion, including $856 million of restricted cash.

The airline industry has been battered in recent years by low-fare competition and high fuel costs. Carriers have been in recovery mode, however, thanks to strong demand and higher fares.