United Airlines Holdings Inc. said Wednesday it expects the coronavirus pandemic to continue to weigh on travel demand this year as the airline will focus on rebuilding itself.
United posted a net loss of $ 1.9 billion for the fourth quarter, compared to a profit of $ 641 million in the same period last year. In total, United lost $ 7.1 billion in 2020.
While the outlook for the coming months remains bleak for airlines, United said it has managed to control how it survives its immediate challenges and outlined its plan to overcome its profit margins. 2019 to 2023, through a combination of return trips. reduction of income and costs.
“Aggressive management of the 2020 challenges depended on our innovation and quick decision-making. But the truth is, Covid-19 has changed to United Airlines forever, “said Scott Kirby, executive director of United Airlines.
United’s losses come almost a week after Delta Air Lines Inc. say it lost $ 12 billion last year, also its worst annual performance. The poor results of both airlines reflect the damage the pandemic has caused to the airlines. Carriers with Southwest Airlines Co. and American Airlines Group Inc. they will have to report fourth-quarter results next week.