UPDATED: US Airways, United report narrower 1Q losses

US Airways reported a $45 million first-quarter loss today, better than analysts expected and a significant improvement over the same three months of 2009. The airline, PHL's biggest by a wide margin, said its loss would have been even smaller were it not for the winter storms that disrupted travel on the East Coast and a big jump in fuel costs.

United Airlines also reported a much-improved quarter, a $92 million first-quarter loss and its first operating profit for the first three months of a year since 2000.

UPDATE: More detail on both airlines can be found here.