Good grief!  Today United Airlines reported that they lost $292 million between April and June of this year.

A recent Reuters story also reported that "The airline said it has deferred about $66 million in incremental direct costs related to the US Airways acquisition.  In addition, UAL said it may have to pay a $50 million breakup fee related to the deal.  Both charges would be reflected in its second-quarter results."

In today's NewsReal, Jim Goodwin is quoted as attributing the loss to "the weaker economy on business travel, particularly on the West Coast and Asia."  He also blames higher fuel and labor costs.  Under 'labor costs', NewsReal states that these higher costs are the result of:

• The new pilot contract
• Wage increases for salaried and management employees
• Funds the company is setting aside for retroactive payments to United's International Association of Machinists and Aerospace Workers

Let us also be the first to remind everyone of the many costs involved to prepare this airline for that mythical DAY ONE operation of a merger that isn't going to happen. That, and the $50 million breakup fee United will most likely be obligated to pay US Airways.

According to today's Associated Press story, "UAL's second-quarter loss will end up being as much as $116 million higher if the merger proposal fails within the next month, as is widely expected."

This is the fourth quarter in a row United Airlines has lost money, after going for five years straight with consistent profits.

In the meantime, we still have the US Airways merger plugging forward until August 1, when the Department of Justice will render their decision.  So until then, consider this loss of $292 million very sad news for such a great company with great potential.

Once the DOJ rejects the US Airways merger and that annoying distraction disappears, it will then be a very good time for both the United Airlines shareholders and employees to hold a few people responsible for their leadership skills.  No holds barred, folks.