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Home INTERNATIONAL Coronavirus pushes United Airlines (UAL) to a $1.6 billion loss in second...

Coronavirus pushes United Airlines (UAL) to a $1.6 billion loss in second quarter

A United Airlines Boeing 777-200 aircraftNicolas Economou | NurPhoto | Getty ImagesUnited Airlines posted a $1.62 billion internet loss for the second quarter, pushed by a plunge in air vacation demand for the reason that of the coronavirus pandemic, the provider reported Tuesday.Revenue fell more than 87% from a year before to $1.48 billion from a in the a few months finished June 30, when compared with analysts’ estimates for sales of $1.32 billion.United’s shares had been down 1.4% in postmarket buying and selling.The Chicago-centered carrier and other substantial-airline competition that put in decades building up their global networks are grappling with what are expected to be very long-lasting impacts of the pandemic.United earlier this month warned 36,000 staff members that their work opportunities are at risk this drop when the phrases of federal payroll support expire in October. The provider has slashed hundreds of flights and parked hundreds of planes to lower its cash melt away.United Airlines executives will hold a call with analysts to crack down their effects and outlook at 10:30 a.m. ET Wednesday.Southwest Airlines and American Airlines are scheduled to report quarterly effects before the market opens on Thursday.This is breaking information. Check again for updates.

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