United Airlines improves cash burn after matching flying to demand
United Airlines Holdings Inc said on Tuesday it burned through about $40 million per day in the second quarter but sees that amount slowing to roughly $25 million in the third quarter as it matches its flight schedule to coronavirus-hit demand.
US airlines are scrambling to adjust operations to hard-to-predict travel demand as Covid-19 infections surge, forcing some US states to scale back reopening plans and reinstate quarantines.
Chicago-based United reported an adjusted net loss of $2.6 billion for the June quarter, or a $9.31 per-share loss, versus a $4.21 per-share profit a year ago, as revenue dropped 87 percent to $1.475 billion.
