United Airlines sees first-quarter revenue falling 66%
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FILE PHOTO: A United Airlines Boeing 737-800 sits at a gate after arriving at O'Hare International Airport in Chicago, Illinois, U.S., June 5, 2019. REUTERS/Kamil Krzaczynski/File Photo
(Reuters) -United Airlines said it expects first-quarter revenue to drop by 66%, which is near the lower end of its prior forecast, buoyed by improving demand for domestic travel.
The company said it now expects first-quarter revenue to fall 66% to $3.2 billion from the same period in 2019. It had previously forecast a drop of between 65% and 70%. (https://bit.ly/3t79pIq)
The airline said its average daily cash burn for the quarter is expected to be about $9 million per day, an improvement of about $10 million compared to the fourth quarter of 2020.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)
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