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

Credit: REUTERS/Chris Helgren

United Airlines Holdings Inc 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.

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.

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