United Airlines, one of the US's largest airlines, lost on average of $40 million per day in the second quarter of 2020.
It was the toughest period in the company's 94-year history. To deal with $1.6 billion net loss and imminent crisis, UA took out $16.1 million loans, Report informs.
During the mentioned time frame, due to pandemic restrictions, passenger transportation dropped to almost zero, and the operating profit of the corporation dropped 87.1% compared to the same duration of the previous year.
UA expects an increase in passenger traffic in the third quarter and an average loss of $25 million a day soon.