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Jun 30, 2020
United Airlines Q2 2020 Earnings Report
United Airlines announced second quarter 2020 financial results, which were heavily impacted by the COVID-19 pandemic.
Key Takeaways
United Airlines reported a net loss of $1.6 billion and an adjusted net loss of $2.6 billion for the second quarter of 2020. Total operating revenues decreased by 87.1% year-over-year due to an 87.8% decrease in capacity. The company took aggressive actions to mitigate the impact of COVID-19 by raising liquidity and reducing cash burn, ending the quarter with $15.2 billion in liquidity.
United Airlines reported a net loss of $1.6 billion in Q2 2020.
Total operating revenues decreased 87.1% year-over-year.
The company raised $16.1 billion through debt offerings, stock issuances, and the CARES Act.
United expects Q3 capacity to be down 65% compared to Q3 2019.
Revenue by Segment
Forward Guidance
The company expects consolidated system capacity to be down 65% in Q3 2020 versus Q3 2019 and will continue to proactively evaluate and cancel flights on a rolling 60-day basis until it sees signs of a recovery in demand. Demand is expected to remain suppressed until the availability of a widely accepted treatment and/or vaccine for COVID-19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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