United sinks with US$2.1b loss heralding more airline pain
United Airlines Holdings tumbled after the company said it expected to record a $2.1b loss in Q1 as the coronavirus outbreak all but erased air-travel demand in March. The pre-tax loss, which will be about $1b on an adjusted basis, came as revenue dropped 17% from a year earlier to $8b, the carrier said Monday. The results are preliminary and subject to change. The airline’s early look at Q1 results is the first for big US carriers and presages a gruesome set of earnings reports after flights were curtailed worldwide. United fell 6.7% at 9:39 am in New York, the biggest drop on a Standard & Poor’s index of major US airlines. The shares had tumbled 67% this year through April 17, also the worst on the industry stock gauge. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-04-21/star/united-sinks-with-us-2-1b-loss-heralding-more-airline-pain
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United sinks with US$2.1b loss heralding more airline pain
United Airlines Holdings tumbled after the company said it expected to record a $2.1b loss in Q1 as the coronavirus outbreak all but erased air-travel demand in March. The pre-tax loss, which will be about $1b on an adjusted basis, came as revenue dropped 17% from a year earlier to $8b, the carrier said Monday. The results are preliminary and subject to change. The airline’s early look at Q1 results is the first for big US carriers and presages a gruesome set of earnings reports after flights were curtailed worldwide. United fell 6.7% at 9:39 am in New York, the biggest drop on a Standard & Poor’s index of major US airlines. The shares had tumbled 67% this year through April 17, also the worst on the industry stock gauge. <br/>
