United Airlines Holdings Inc. said Tuesday that it lost $1.63 billion in the second quarter as revenue plunged 87%, and it will operate at barely over one-third of capacity through September as the COVID-19 pandemic throttles air travel. The Chicago airline burned through $40 million a day in the April-through-June quarter but said it will trim losses to $25 million a day in the current quarter by slashing costs. Chief Executive Scott Kirby said United cut its cash-burn rate below its closest rivals’ by shrinking its schedule to meet lower demand and cutting costs across the company. In a statement, he said the moves “positioned United to both survive the COVID crisis and capitalize on...
Full ArticleUnited Airlines posts $1.6-billion loss, says it’s shedding 6,000 workers
WorldNews
0 shares
1 views
You might like
Related news coverage
Airbus plane deliveries halved as airlines scrounge for cash
SeattlePI.com
PARIS (AP) — European plane maker Airbus saw its deliveries halve during the first six months of the year as travel collapsed..
-
Support in House for $32B more for airlines but fate unclear
SeattlePI.com
-
American, Southwest add to US airline industry's 2Q losses
SeattlePI.com
-
United sees revenue stalling at 50% without a virus vaccine
SeattlePI.com
-
United Airlines posts $1.6 billion loss in virus-scarred second quarter
ChicagoTribune
Advertisement
More coverage
United Airlines posts $1.6 billion loss in virus-scarred 2Q
SeattlePI.com
United Airlines said Tuesday that it lost $1.63 billion in the second quarter as revenue plunged 87%, and it will operate at barely..
-
United Airlines posts $1.6 billion loss in virus-scarred 2Q
Seattle Times
-
“Growth has stalled" .... surge in US infections hits Delta
SeattlePI.com
-
“Growth has stalled" .... surging infections hit Delta
SeattlePI.com
-
United sending layoff notices to nearly half of US employees
SeattlePI.com