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

April 30, 2020 admin Stock News 0

© Reuters. FILE PHOTO: A United Airlines passenger jet takes off with New York City as a backdrop

(Reuters) – United Airlines Holdings Inc (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.

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