The lack of demand for flights amid the COVID-19 outbreak has caused significant financial damage to the airlines
issued to United Airlines employees Wednesday, CEO Oscar Munoz and President Scott Kirby said the company has seen a 97 percent drop in demand during the first two weeks of April compared to the same time frame in 2019.You'll get the latest updates on this topic in your browser notifications.
“Travel demand is essentially zero and shows no sign of improving in the near-term,” Munoz and Kirby wrote. “To help you understand how few people are flying in this environment, less than 200,000 people flew with us during the first two weeks of April this year, compared to more than 6 million during the same time in 2019, a 97 percent drop.”
The pair added that they “expect to fly fewer people during the entire month of May than we did on a single day in May 2019.” The company continued on to say that the government funding they receive can help protect U.S. employees from involuntary furloughs and pay rate cuts through the end of September. But pay cuts will likely come in the months to follow, United warned.
“The challenging economic outlook means we have some tough decisions ahead as we plan for our airline, and our overall workforce, to be smaller than it is today, starting as early as October 1,” the statement read.Wall Street Journal
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