NEW YORK (CNN/Money) - UAL Corp., the parent of United Airlines, reported a significant first-quarter loss Friday as it continued to be hit by the lingering effects of the Sept. 11 attacks on the airline industry, but it beat analyst expectations by more than $1 a share.

UAL (UAL: up $0.21 to $15.05, Research, Estimates) posted a net loss of $510 million, or $9.22 a share, in the first quarter, compared with a loss of $313 million, or $5.97 a share, in the year-earlier period.

Before items, the company reported a loss of $487 million, or $8.81 a share, compared with a loss of $305 million, or $5.82 a share, a year earlier. The special items include a $52 million charge for closing its business jet unit, Avolar. Analysts had expected a loss of $10.24 a share, according to tracking firm First Call.

"We certainly are seeing signs that our industry's situation is beginning to improve, but there is still a long way to go," CEO Jack Creighton said.

The airline's operating revenue fell 26 percent to $3.3 billion from $4.42 billion in the first quarter of 2001, and its cash burn rate fell to less than $5 million daily in the first quarter from $10 million in the previous quarter.

UAL officials said they expect the company to post another significant loss in the second quarter and for the year.

Separately, America West Airlines, a unit of America West Holdings (AWA: up $0.04 to $5.30, Research, Estimates), reported a first-quarter net loss of $358.3 million, or $10.62 a share, after charges and accounting changes.

Excluding special charges, AmericaWest lost $47.6 million, or $1.41 a share. Analysts' average loss estimate was $1.50 a share, according to First Call.

America West, the only major carrier to apply for and accept federal loan guarantees, said total operating revenue fell 21.6 percent to $460 million in the first quarter.

Also Friday, Alaska Air Group Inc. (ALK: up $0.24 to $31.14, Research, Estimates), parent of Alaska Airlines and regional carrier Horizon Air, reported a $34.4 million first-quarter net loss, amounting to $1.30 a share, compared with a loss of $33.1 million, or $1.25 a share, a year ago. Analysts estimated a loss of $1.53 a share on average, according First Call.

The airline's operating revenue dropped 3.7 percent from a year earlier to $497 million in the first quarter.  

--from staff and wire reports