dpa/GNA – The coronavirus pandemic delivered US airline United Airlines another major loss at the end of 2020.
The three months to the end of December closed with a net loss of 1.9 billion dollars, the company announced in Chicago on Wednesday after the close of US stock market trading for the day.
A year ago, the company recorded a profit of 641 million dollars. Revenue slumped 69 per cent to 3.4 billion.
First quarter estimates for 2021 weren’t optimistic either, with the company expecting to be down 65-70 per cent on 2019 earnings for the same period.
With the pandemic bringing most air travel to a halt, full-year results also showed major losses. United suffered a 7.1-billion-dollar loss in 2020, after earning 3 billion dollars the previous year. Revenue fell 65 per cent to 15.4 billion dollars.
The annual report was lower than market expectations, and shares dipped into the negative after markets closed.