United Airlines posted a $1.36 billion loss in the first quarter and will need a rebound in lucrative business and international travel before it returns to profitability.
The loss reported Monday would have been even wider without federal payroll aid, but it was still slightly worse than expected. However, investors are far more interested in how quickly United and other airlines can recover from their pandemic-caused financial crisis.
United executives have said recently that bookings are rising ahead of the peak summer vacation season, and they expect that trend to grow stronger as more Americans get vaccinated against COVID-19. The airline predicted that a number of financial measures will improve from the first quarter into the second.
Source: Associated Press – DAVID KOENIG