United Airlines Holdings Inc warned on Tuesday that travel demand will remain suppressed until there is a widely accepted treatment or vaccine ...
United Airlines Holdings Inc warned on Tuesday that travel demand will remain suppressed until there is a widely accepted treatment or vaccine for COVID-19, which plunged the carrier to a deep quarterly loss on Tuesday.
The setback does not bode well for airline jobs in the fall, when a U.S. government stimulus package expires. To avoid furloughs, airlines have rolled out a number of packages to encourage employees to leave voluntarily. While early data from trials of three potential COVID-19 vaccines released on Monday was encouraging, it is still far from clear whether the efforts will result in a vaccine capable of ending the global pandemic that has claimed more than 600,000 lives.
The airline burned through about US$40 million per day in the second quarter but sees that amount slowing to roughly US$25 million in the third quarter as it matches its flight schedule to demand.
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