United Airlines has given a first glimpse of how ugly the first quarter was for U.S. airlines with a $2.1 billion pre-tax loss warning
... [+]d Airlines estimates it lost $2.1 billion on a pre-tax basis in the first quarter and has applied to borrow up to $4.5 billion from the U.S. Treasury, it said in an SEC filing Monday morning that offered the first financial details from a U.S. airline since the coronavirus pandemic abruptly brought the global travel industry to a near halt.
United was losing $100 million a day in the last two weeks of March, the company said, and this quarter will be worse: It carried fewer than 200,000 passengers during the first two weeks of April, down 97% from the same period last year, and it expects to fly fewer people this May than on a single day in The Chicago-based airline expects to receive $5 billion in grant aid and loans from a fund to cover airline industry payrolls that was set up in the $2.2 trillion stimulus package passed by Congress last month. In return for that and the $4.
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