United (UAL) earnings Q1 2020

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A United Airlines plane prepares to take off at the Benito Juarez International airport in Mexico City, on March 20, 2020.

Pedro Pardo | AFP | Getty Images

UnitedĀ AirlinesĀ posted a $1.7 billion loss in the first three months of the year and expects to burn an average of $40 million to $45 million a day in the second quarter as the coronavirus continues to hurt bookings.

The Chicago-based airline and its competitors are facing a 95% decline in air travel demand, just as travelers are normally starting to think about summer trips. The second and third quarters are generally the most lucrative for airlines but the virus and shelter-in-place orders keep would-be travelers home.

The airline earlier this month disclosed a pretax loss of $2.1 billion in the quarter.

This is breaking news. Check back for updates.

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