United Airlines Warns of 75% Fewer Flights in July, 65% in August
As the COVID-19 pandemic continues to depress demand for air travel, United Airlines (NASDAQ: UAL) is losing $40 million due to a dearth of traffic, reports The Wall Street Journal this morning. The traffic situation is improving -- but only slowly.
In a pair of filings with the SEC last night, United advised that its "consolidated" capacity (that's the total number of seat-miles flown on domestic and international routes combined) in June 2020 was down 88% from June 2019. This month, that number is expected to improve to 75% down (i.e., the airline will fly 25% as many flights in July 2020 as it did a year ago), and capacity will improve further to a 65% decline in August.
Image source: United Airlines.
Source Fool.com
