United Airlines (UAL) posts $1.2 billion loss amid coronavirus, seeks more federal aid

[ad_1]

A United Airlines Holdings Inc. employee waits for a traveler at San Francisco International Airport in San Francisco, California, U.S., on Thursday, April 2, 2020.

David Paul Morris | Bloomberg | Getty Images

United Airlines on Monday reported a $2.1 billion loss for first quarter as the coronavirus pandemic drove travel demand down to the lowest level in decades.

The Chicago-based airline said has applied for up to $4.5 billion in government loans on top of about $5 billion federal payroll grants and loans it also expects to receive to weather the crisis.

United is the first major U.S. airline to detail the results of the virus on its results in the first three months of the year. The disease and harsh measures to stop it from spreading such as stay-at-home orders has ravaged air travel demand and and prompted carriers to slash most of their flights.

This is breaking news. Check back for updates.

[ad_2]

Source link