United Airlines financial hole grew deeper over the summer as a modest recovery in air travel slowed down, pushing the carrier to a loss of $1.84 billion in the typically strong third quarter.
The airline said Wednesday that revenue plummeted 78% from a year earlier. The loss was worse than analysts had expected. The results from United, and those issued a day earlier by Delta Air Lines, reinforced the damage that the pandemic is doing to a major industry. Seven months into the worst of the coronavirus impact in the U.S., air travel remains down 65% from a year ago. The decline in lucrative business travel is even deeper. To read the full article please click here.