The Covid-19 pandemic has already cost United Airlines $2.1 billion.
It announced preliminary pre-tax first quarter revenue was down 17%.
The airline said the loss was adjusted to $1 billion as it had $1 billion in special charges.
Still, all the losses came from a single month – March, and it is warning the next two quarters will likely be worse.
United cut capacity by about 90%, with travel demand ‘essentially zero.’
United has bagged $US5 billion in relief from the US government and plans to apply for additional loans of up to $US4.5 billion to see it through the bleakest period for the travel industry ever.
Top executives at United have become increasingly despondent about a quick recovery and expect ‘no sign of improving in the near term.’
Delta Air Lines and Southwest Airlines are due to post first-quarter results this week.
