United Airlines Reports ‘Most Difficult’ Quarter in Nearly 100 Years
Photo Credit: A United Airlines Boeing 787 in Frankfurt. Flickr / Kevin Hackert.
Skift Take
United Airlines said it had the worst quarter in its history. But given the demand climate, the current third quarter might be just as bad. For recovery to happen, U.S. airlines need the U.S. government to figure out how to reduce Covid-19 outbreaks.
Typically, when a public company reports earnings, it highlights a positive in its release, no matter how much money it lost in the previous three months. But on Tuesday, United Airlines did not spin, telling investors it recently completed "the most difficult financial quarter in its 94-year-history."
United reported a net loss of $1.6 billion, and an adjusted net loss of $2.6 billion. Its revenue for the quarter, which ended June 30, decreased by almost $10 billion, or 87.8 percent, year-over-year.
Airlines have been hoping they can spur a domestic travel rebound, with Americans canceling planned trips to Europe, Asi
