United Airlines (UAL) Misses Q2 EPS by 29c, Revenue Beats

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Go back to United Airlines (UAL) Misses Q2 EPS by 29c, Revenue Beats

United Airlines Took Industry-Leading Steps to Manage Historic Impact of COVID-19 in Q2

July 21, 2020 4:15 PM EDT

CHICAGO, July 21, 2020 /PRNewswire/ -- United Airlines (UAL) today announced second quarter 2020 financial results, the most difficult financial quarter in its 94-year history, with a net loss of $1.6 billion, and an adjusted net loss¹ of $2.6 billion. Total operating revenues were down 87.1% year-over-year, on an 87.8 percent decrease in capacity year-over-year. The company's total liquidity as of the close of business on Monday, July 20, 2020 was approximately $15.2 billion. United now expects liquidity at the end of the third quarter to be over $18 billion.

Cash burn2 during the second quarter averaged $40 million a day, including $3 million of principal payments and severance... More