The Chicago-based airlines recently reported a $2.1 billion loss in the first three months of 2020, demonstrating the severe impact of the recent pandemic on travel demand. They have applied for $5 billion in federal payroll grants and loans as well as $4.5 billion in government loans. United Airlines revenue was reported to decrease by 17% since last year and the situation is not likely to improve in the near future. Due to the current stay-home measures being put into place, it is unlikely that consumers are returning anytime soon to traveling.
To read the full article by Leslie Josephs from CNBC, click here.