News & Insights

Commodities
UAL

United Airlines posts quarterly loss, shores up $9.6 billion in liquidity

Credit: REUTERS/Chris Helgren

April 30, 2020 — 04:35 pm EDT

Written by Tracy Rucinski for Reuters ->

April 30 (Reuters) - United Airlines Holdings Inc UAL.O on Thursday posted a first-quarter loss of $1.7 billion, including charges against investments in Latin America that have soured as the coronavirus pandemic jolts travel industries worldwide.

Chicago-based United said it had $9.6 billion in liquidity as of April 29 and that its cash burn would range between $40 million and $45 million per day in the second quarter.

The net loss to March 31 compares with a $292 million profit a year earlier. On an adjusted net basis, United's net loss was $639 million.

(Reporting by Tracy Rucinski in Chicago Editing by Matthew Lewis)

((tracy.rucinski@thomsonreuters.com; 1-312-408-8575; Reuters Messaging: tracy.rucinski.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

CommoditiesCompaniesUS Markets
Reuters
Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.
More articles by this source ->

Stocks mentioned

UAL

More Related Articles

Info icon

This data feed is not available at this time.

  • •

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.