20-Nov-2020 10:52 AM

United Airlines witnesses slowdown in bookings due to COVID-19 spike

United Airlines announced (19-Nov-2020) it continues to experience significant impacts to demand, with a deceleration in system bookings and increase in cancellations for the week ended 18-Nov-2020, due to a spike in COVID-19 cases. United does not anticipate a linear recovery in growth from COVID-19, and has since decreased scheduled capacity to down at least 55% year-on-year for 4Q2020, compared to previous guidance of down about 55%. The company continues to expect total revenue to be down approximately 67% in 4Q2020, and average daily cash burn to be in the range of USD15 million to USD20 million, plus USD10 million in daily debt principal payments and severance payments. [more - original PR]

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