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Non-Tech : Airline Discussion Board

JETS 23.99

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Nov 17 4:00 PM EST

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To: Sam who wrote (1231)	7/21/2020 8:34:39 PM
From: Moonray	of 1868

United Airlines loses $1.6 billion in the second quarter amid travel slowdown Sara Salinas, Leslie Josephs United Airlines reported a second-quarter net loss of more than $1.6 billion, driven by a near-shutdown in air travel spurred by the coronavirus pandemic. Revenue for the period fell 87%, on a year-over-year basis, to $1.48 billion, bad news for the start of the peak summer travel season. The airline is now focused on further slashing its cash burn to $25 million a day in the third quarter from an average $40 million per day, according to the airline’s quarterly report. The Chicago-based airline has added capacity back into the market cautiously and said it expects to operate 35% of what it flew in the third quarter of last year. “United believes it did the best job of matching actual capacity to demand among its largest network peers,” the airline said in a release. “The company also expects to finish the quarter with the lowest average daily cash burn among large network carriers.” o~~~ O

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