CHICAGO — United Airlines Holdings Inc.'s latest quarter was tough. How tough?
The second quarter was the "most difficult financial quarter in its 94-year history," the airline said, reporting a quarterly loss of $1.6 billion and a year-over-year revenue drop of more than 87%.
In the latest quarter, United Airlines saw a 93.4% drop in passengers, falling to 2.8 million passengers carried in April, May and June 2020 compared with 42.6 million the same period a year earlier.
Total operating revenue fell to $1.47 billion from $11.4 billion a year earlier, and the company reported a loss of $5.79 per share, compared with earnings of $4.02 a year earlier. But those results are better than analysts' expectations. Analysts polled by Thomson Reuters First Call expected a second-quarter loss of $9.02 per share, and expected revenue to fall to $1.32 billion.
United officials said they reacted quickly to the COVID-19 crisis.
> Top stories curated daily just for you! Sign up for the 9NEWSLETTER to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.
Subscribe to our daily 9NEWSLETTER
Download the 9NEWS APP
iTunes: http://on9news.tv/itunes
Google Play: http://on9news.tv/1lWnC5n
SUGGESTED VIDEOS: Warrior Way
HOW TO ADD THE 9NEWS APP TO YOUR STREAMING DEVICE
ROKU: add the channel from the ROKU store or by searching for KUSA.
For both Apple TV and Fire TV, search for "9news" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.
Avs podcast: From the Cheap Seats
This fan-centered podcast about the Colorado Avalanche is brought to you by two 9NEWSers who bought season tickets in the literal cheap seats — so close to the top, they can practically touch the ceiling.
HOW TO LISTEN
Find episodes on your favorite podcast app, or even better, watch them on YouTube!
Broncos podcast: Klis' Mike Drop
Denver Broncos headlines, game previews and interviews with our 9NEWS insider Mike Klis.
HOW TO LISTEN