United Airlines sees first-quarter revenue falling 66%

Airline said its average daily cash burn for the quarter is expected to be about $9mln per day

  
A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. Image used for illustrative purpose

A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. Image used for illustrative purpose

REUTERS/Chris Helgren

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%. 

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) ((Ankit.Ajmera@thomsonreuters.com;))

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