United slightly lower after cautious outlook
Jul. 21, 2020 4:25 PM ETUnited Airlines Holdings, Inc. (UAL)UALBy: Clark Schultz, SA News Editor13 Comments
- United Airlines (NASDAQ:UAL) says its cash burn during Q2 averaged $40M a day, including $3M of principal payments and severance expenses.
- Investors will have their eyes on the current quarter, for which United expects the daily cash burn to be around $25M.
- United sees capacity falling 65% Y/Y during Q3. Full-year capital expenditures of $3.7B are anticipated.
- The company says it will continue to proactively evaluate and cancel flights on a rolling 60-day basis until it sees signs of a recovery in demand, and expects demand to remain suppressed until the availability of a widely accepted treatment and/or vaccine for COVID-19.
- UAL -0.41% AH to $32.90.
- Previously: United Airlines EPS misses by $0.06, beats on revenue (July 21)