United Airlines loses $1.7 billion in first quarter as bookings plunged in coronavirus pandemic
Airlines are posting their first losses in years because of the pandemic.A United Airlines plane prepares to take off at the Benito Juarez International airport in Mexico City, on March 20, 2020.posted a $1.7 billion loss in the first three months of the year and expects to burn an average of $40 million to $45 million a day in the second quarter as the coronavirus continues to hurt bookings.
The Chicago-based airline and its competitors are facing a 95% decline in air travel demand, just as travelers are normally starting to think about summer trips. The second and third quarters are generally the most lucrative for airlines but the virus and shelter-in-place orders keep would-be travelers home.
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