United: fuel costs soaring to $9.5 billion

CHICAGO - United Airlines on Tuesday projected its 2008 fuel bill to hit $9.5 billion based on current prices, or more than $3.5 billion higher than last year. The nation's No. 2 carrier made the forecast in a statement submitted in Washington to back legislation aimed at enabling additional regulation of oil futures trading, where volatility has spurred record prices. United parent UAL Corp. also estimated that passenger revenue for the second quarter will rise by between 4 percent and 5 percent over a year ago. It said it will take significant second-quarter charges for impairment, severance and the termination of contracts. it announced last month.