United cuts Q3 capacity, revenue forecasts
United Wednesday forecast a bigger drop in Q3 passenger revenue than its own expectations and said it would look to cancel more flights until it sees a recovery in air travel. United said it now expects an 85% drop in passenger revenue, a closely watched performance measure in the airline industry, down from its previous estimate of 83% year-over-year. The airline also expects Q3 capacity to decrease about 70% year-over-year, compared with its prior forecast of 65%, despite seeing a moderate improvement in bookings for leisure travel in the US and certain short-haul destinations in Latin America and the Caribbean in the two ended Sept. 7. US airlines have collectively been bleeding about $5b a month as 30% of the planes remain parked amidst the coronavirus pandemic that prompted passengers to cancel their flights and seek refunds rather than book new travel.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-09-10/star/united-cuts-q3-capacity-revenue-forecasts
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United cuts Q3 capacity, revenue forecasts
United Wednesday forecast a bigger drop in Q3 passenger revenue than its own expectations and said it would look to cancel more flights until it sees a recovery in air travel. United said it now expects an 85% drop in passenger revenue, a closely watched performance measure in the airline industry, down from its previous estimate of 83% year-over-year. The airline also expects Q3 capacity to decrease about 70% year-over-year, compared with its prior forecast of 65%, despite seeing a moderate improvement in bookings for leisure travel in the US and certain short-haul destinations in Latin America and the Caribbean in the two ended Sept. 7. US airlines have collectively been bleeding about $5b a month as 30% of the planes remain parked amidst the coronavirus pandemic that prompted passengers to cancel their flights and seek refunds rather than book new travel.<br/>
